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Listed by Newmark Cornish & Carey
$ 6,300,000
Est. payment | /mo
7,200 SqFt
$ 6,300,000
Est. payment | /mo
7,200 SqFt
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 7,200 sqft
Price per Sqft $875
MLS Listing ID ML82054496
HOA Y/N No
Lot Size 7,200 Sqft
Property Sub-Type Unimproved Land
Source Datashare MLSListings
Property Description
340 Palo Alto Avenue consists of a charming single-story 2 bed 1 bath home on a +/- 0.2 acre lot with rare development potential in prime North Downtown Palo Alto. Ownership has filed an SB79 application to develop a 3-story, 6-luxry condo project. The +/- 1,500-1,550 sq. ft. 3 bedroom 3.5 bath premium condos will feature large terraces overlooking the tree-lined San Francisquito Creek. The property will feature a lobby entry with an elevator, two stairwells, privatized storage for each unit, at-grade parking, an interior trash/recycling room, all-electric service, and an attractive exterior fa ade consisting of painted brick and wood elements, a nod to its contemporary and greenbelt surroundings. Additionally, an option may exist to add a 7th penthouse suite unit which would be a larger +/- 1,800 sq. ft. residence on its own floor, with spectacular views. The property feeds to the #1 ranked school district in California; Addition Elementary, Greene Middle and Palo Alto High schools. The amenity-rich location is convenient to retail and restaurant options of University Avenue and Stanford Shopping Center, Caltrain Station, major transportation arteries, and world-class Silicon Valley employers.
Location
State CA
County Santa Clara
Interior
Fireplace No
Building
Lot Description Level, Rectangular Lot
Water Public
Schools
School District Palo Alto Unified, Palo Alto Unified
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