331 Poe Street

Palo Alto, CA 94301

$4,650,000
Last Sold Price
Beds
5,843 Sq. Ft.
$796 / Sq. Ft.
5,843
Sq. Ft.
$796
per Sq. Ft.

Description

Rarely available pride of ownership 7-unit opportunity in core downtown Palo Alto. This immaculately maintained property contains a large 3+2.5 owner's unit, (2) 2+1.5, and (4) 1+1 unit mix with 1:1 parking. 331 Poe features many amenities not typically found in asset of this size such as electric vehicle charging (each unit), a pool, oversized storage units, and a leasing office. Most apartments have updated kitchens and baths and plank flooring, stainless steel appliances, and dishwashers. The...Rarely available pride of ownership 7-unit opportunity in core downtown Palo Alto. This immaculately maintained property contains a large 3+2.5 owner's unit, (2) 2+1.5, and (4) 1+1 unit mix with 1:1 parking. 331 Poe features many amenities not typically found in asset of this size such as electric vehicle charging (each unit), a pool, oversized storage units, and a leasing office. Most apartments have updated kitchens and baths and plank flooring, stainless steel appliances, and dishwashers. The property is located moments to Stanford University, Shopping Center, and Health Care system, is transit-oriented being a short walk to the Palo Alto Caltrain station, and benefits from quaint retail and restaurants of University Avenue. 331 Poe feeds to the top public school district in California. Attractive assumable financing available: ~6 years remaining at 3.36%.
  1. Listed by Joel Hopman • DRE #01934574 • Newmark Cornish & Carey • 415-722-2200
  2. Listed by David O'such • DRE #01033820 • Cornish & Carey Commercial

Property Details for 331 Poe Street

MLS City Name
PALO ALTO
Building Type
Other
Garage Spaces
0
Parking Spaces
0

Location

Listing Courtesy of Newmark Cornish & Carey, Joel Hopman, DRE #01934574; Cornish & Carey Commercial, David O'such, DRE #01033820

Sold By Newmark Cornish & Carey, Joel Hopman, DRE #01934574

Add your commute
LISTING UPDATED: 06/11/2023 07:40 AM

Property Details for 331 Poe Street

StatusSold
MLS #ML81920951
Days on Compass1
Taxes$61,710 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1965
Lot Size0.21 AC / 9,001 SF
CountySanta Clara County

Location

Listing Courtesy of Newmark Cornish & Carey, Joel Hopman, DRE #01934574; Cornish & Carey Commercial, David O'such, DRE #01033820

Sold By Newmark Cornish & Carey, Joel Hopman, DRE #01934574

Add your commute

Building Information for 331 Poe Street

Stories-Residences-Year Built1965Building Size-Lot Size0.21 AC / 9,001 SF

Payment Calculator

$30,519 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,377

Property Taxes

$5,143

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 331 Poe Street

Features
Features
  • Fireplace: No
  • Living SqFt: 5843
  • Pool: Yes
  • Pool Type: Pool - Fenced, Pool - Heated, Pool - In Ground
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: Ceiling Fan, Central AC, Window / Wall Unit
  • Heating: Central Forced Air, Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 7
Garage
  • Garage and Parking: Assigned Spaces, Carport , Electric Car Hookup
Property Details
Homeowners Association
  • HOA Amenities: Additional Storage, Community Pool, Other
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 7
  • Area Text: Downtown Palo Alto
  • Roof: Metal
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 331
  • Street Name: Poe
  • Street Suffix: Street
  • Area ID: 242
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 5843
  • Structure SqFt Source: Assessor
  • Age: 58
Development Information
  • Zoning Detail: R1
Location Information
  • City Limits: Yes
  • Parcel Number: 120-12-037
  • County Name: Santa Clara
  • City Name: PALO ALTO
  • City Postal ID: 46
  • Postal Code: 94301
  • Elementary School: 309
  • Elementary School District: 481
  • Middle School Text: Frank S. Greene Middle
  • High School District Text: Palo Alto Unified
  • High School Text: Palo Alto High
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .21
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
General Information
  • Annual Tax Amount: $61,710
  • Capitalization Rate: 3.44
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 4
Income / Expense Details
  • Expense Insurance: $5,357
  • Expense Landscape: $2,760
  • Expense Maintenance: $4,257
  • Expense Management: $0
  • Expense Trash: $1,881
  • Expenses Other: $3,876
  • Expenses Utility: $18,444
  • Expenses Total: $98,285
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Pool/Spa, Maintenance - Repair, Services - Gardener, Utilities, Vacancy Factor
  • Gross Rent Multiplier: 17.86
  • Income Annual Gross: $273,798
  • Income Annual Rental: $285,000
  • Income Gross Scheduled: $285,206
  • Income Other: $206
Unit 1 Information
  • Unit 1 Full Bathrooms: 2
  • Unit 1 Half Bathrooms: 1
  • Unit 1 Number of Bedrooms: 3
  • Unit 1 Rent: $3,500
Unit 2 Information
  • Unit 2 Approx Square Footage: 905
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Half Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $3,100
Unit 3 Information
  • Unit 3 Approx Square Footage: 630
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Rent: $3,500
Unit 4 Information
  • Unit 4 Approx Square Footage: 625
  • Unit 4 Full Bathrooms: 1
  • Unit 4 Number of Bedrooms: 1
  • Unit 4 Rent: $3,100
Unit Type 1
  • Unit Type1 Approx SqFt: 1180
  • Unit Type1 Units Total: 1
Unit Type 2
  • Unit Type2 Units Total: 2
Unit Type 3
  • Unit Type3 Units Total: 1
Unit Type 4
  • Unit Type4 Units Total: 3
Listing Info
Rental Info
  • Lease Type: Net

Property History for 331 Poe Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 331 Poe Street

Taxable ValueLand$2,983,500Additions$2,014,500Total$4,998,000
Tax Record2023$60,075 ($5,006 / month)
Home Facts
Total Finished SqFt5,843 SqFtAbove Grade Finished SqFt5,843 SqFtStories2Lot Size9,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningR1CountySANTA CLARAAPN120-12-037Fireplace TypeHas Fireplace

Schools near 331 Poe Street

This home is within Palo Alto Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Addison Elementary School
PublicK to 5

Frank S. Greene Jr. Middle
Public6 to 8

Palo Alto High School
Public9 to 12

Ohlone Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Newmark Cornish & Carey, Joel Hopman, DRE #01934574; Cornish & Carey Commercial, David O'such, DRE #01033820

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.