827 University Avenue

Palo Alto, CA 94301

$5,200,000
Price
Beds
6,300 Sq. Ft.
$825 / Sq. Ft.
6,300
Sq. Ft.
$825
per Sq. Ft.

Description

Introducing an extraordinary opportunity to acquire a rare seven-unit multifamily community within walking distance of vibrant Downtown Palo Alto. The property comprises a1900s-era mansion, converted over the past sixty years into a duplex, and five additional one-bedroom units built in 1955. The front mid-century structure includes a large two-bedroom, one-bathroom unit and a large three-bedroom, two-bathroom unit, each rich in character and offering tenants a unique living experience. In the back,...Introducing an extraordinary opportunity to acquire a rare seven-unit multifamily community within walking distance of vibrant Downtown Palo Alto. The property comprises a1900s-era mansion, converted over the past sixty years into a duplex, and five additional one-bedroom units built in 1955. The front mid-century structure includes a large two-bedroom, one-bathroom unit and a large three-bedroom, two-bathroom unit, each rich in character and offering tenants a unique living experience. In the back, the five one-bedroom units provide cozy, private living spaces. The property also offers six private garages, three private backyards, and multiple storage units, enhancing its appeal and functionality. At a listing price of $5,200,000, which equates to $742,857 per unit, this is a rare opportunity to acquire a property in Palo Alto at a fraction of the cost of local single-family homes.
  1. Listed by Jimmy Castellanos • DRE #02024152 • Brokerage DRE #01240999 • Marcus & Millichap • 408-483-5040

Property Details for 827 University Avenue

MLS City Name
PALO ALTO
Building Type
Other
Complex Name
University Apartments
Garage Spaces
6
Parking Spaces
3
Cross Street
Guinda Street
LISTING UPDATED: 01/08/2025 06:24 PM

Property Details for 827 University Avenue

StatusActive
MLS #ML81989705
Days on Compass2
Taxes$61,962 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1955
Lot Size0.29 AC / 12,600 SF
CountySanta Clara County

Building Information for 827 University Avenue

Stories-Residences-Year Built1955Building Size-Lot Size0.29 AC / 12,600 SF

Property Information for 827 University Avenue

Features
Features
  • Fireplace: No
  • Living SqFt: 6300
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: Central AC, Window / Wall Unit
  • Heating: Central Forced Air - Gas, Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Assigned Spaces, Attached Garage
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 7
  • Area Text: Crescent Park
  • Restrictions: None
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 827
  • Street Name: University
  • Street Suffix: Avenue
  • Area ID: 239
Lot / Property Details
Building Information
  • Number of Buildings: 2
  • Structure SqFt: 6300
  • Structure SqFt Source: Other
  • Age: 70
Development Information
  • Construction Type: Wood Frame
  • Ownership Type: Trust
  • Zoning Detail: RM3
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 003-03-018
  • 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: .29
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 7
General Information
  • Annual Tax Amount: $61,962
  • Capitalization Rate: 3.34
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Coin Operated Equip, Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $5,250
  • Expense Landscape: $3,660
  • Expense Maintenance: $3,500
  • Expense Management: $0
  • Expense Trash: $41
  • Expenses Other: $119
  • Expenses Utility: $20,398
  • Expenses Total: $94,930
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Services - Trash Removal, Utilities - Electric, Utilities - Water
  • Gross Rent Multiplier: 18.79
  • Income Annual Gross: $268,453
  • Income Annual Rental: $275,916
  • Income Gross Scheduled: $276,756
  • Income Other: $840
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $2,862
Unit 2 Information
  • Unit 2 Approx Square Footage: 650
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $2,754
Unit 3 Information
  • Unit 3 Approx Square Footage: 650
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Rent: $2,646
Unit 4 Information
  • Unit 4 Approx Square Footage: 650
  • Unit 4 Full Bathrooms: 1
  • Unit 4 Number of Bedrooms: 1
  • Unit 4 Rent: $2,808
Unit 5 Information
  • Unit5 Full Baths: 1
Unit Type 1
  • Unit Type1 Approx SqFt: 650

Property History for 827 University Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 827 University Avenue

Taxable ValueLand$725,152Additions$70,416Total$795,568
Home Facts
Total Finished SqFt5,321 SqFtAbove Grade Finished SqFt5,321 SqFtStories2Lot Size12,600 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningRM3CountySANTA CLARAAPN003-03-018Fireplace TypeHas Fireplace

Schools near 827 University Avenue

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.

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827 University Avenue is for sale in Palo Alto, CA 94301. This property was listed for sale on January 8, 2025 by Marcus & Millichap, it's currently listed at $5,200,000. This listing's school district is Palo Alto Unified School District. Nearby schools include Addison Elementary School, Frank S. Greene Jr. Middle and Palo Alto High School. 827 University Avenue is a 0-bed, 0-bath, 6,300 sqft built in 1955.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Jimmy Castellanos, DRE #02024152

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.