1033 Amarillo Ave
Palo Alto,
CA
94303
Property Details
List Price: |
$6,298,000 |
Beds: |
7 |
Baths: |
Full: 4 |
Status: |
Active |
SqFt: |
3276 Square Feet |
Agency: |
KW Advisors |
Description/Comments
Lot Size: |
0 acre(s) |
Garage: |
Garage |
Property Type: |
Residential-Single Family Residence |
Year Built: |
1947 |
Notes: |
Discover an extraordinary opportunity in Palo Alto's vibrant midtown: a sprawling 21k sq ft property, one of the area's largest and most desirable lots. This unique offering includes 4 charming cottages: three 2-bed, 1-bath, and one 1-bed, 1-bath homes, complete with 5 garages, blending cozy living with vast development potential. Just got voted and approved for subdivision into two 10k sq ft lots, the site is ripe for the creation of two luxurious single-family homes, potentially spanning 5,000 sq ft each. The flexibility extends to the option of constructing two 4,000 sq ft main residences plus two expansive 1,200 sq ft ADUs, potentially leveraging the latest AB 1033 bill allowing ADUs to be sold as separate condos. This opens the door to transforming the property into four distinct units, with a resale value potential of $15-20M. The proposed development offers an exceptional profit margin, all within a prime location near Stanford University, Downtown Palo Alto, and top rated schools. |
MlsNumber: |
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Listing Provided By: |
KW Advisors, original listing |
Phone: |
(650) 817-5000 |
Office Phone: |
(650) 627-3700 |
Agent Name: |
Wen Guo RE Group |
Disclaimer: |
Copyright © 2024 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |