$3,750,000
246 Palo Alto Avenue, Palo Alto, CA 94301
30% above the Palo Alto median of $2.9M (59 active listings)
15% of Palo Alto listings have cut their price · half have been listed 17+ days
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About this home
RARE DOWNTOWN NORTH DEVELOPMENT OPPORTUNITY | Exceptional ±7,150 SF site just 3 blocks from University Ave and Downtown Palo Alto Caltrain offers multiple paths to create significant value. City-approved architectural plans envision an approx. 4,365 SF modern 3-level luxury residence with 4BD/3.5BA + attached JADU, expansive entertaining spaces, basement great room, wine room and indoor/outdoor living. The property's exceptional proximity to Caltrain may also provide compelling potential for higher-density transit-oriented residential development under evolving state and local regulations. Rare opportunity for an end-user, builder, developer or investor near Downtown Palo Alto, Stanford and major Silicon Valley employment centers. Existing improvements convey as-is. Buyer to independently verify current zoning, density, unit count, parking, SB 79/AB 2097 applicability and all development standards with the City of Palo Alto.
Property details
- Property type
- Single Family
- Year built
- 1923
- Lot size
- 7,150 sqft
- Garage spaces
- 1
- Stories
- 1
- County
- Santa Clara
- Listed
- 2 days ago
- MLS #
- 82059476
- Listed by
- Julie Tsai Law · Compass
Features
- Detached Garage
- Other
- Fireplace: Wood Burning
- Flooring: Vinyl / Linoleum
- Flooring: Hardwood
- Roof: Composition
- Utilities: Public Utilities
- Sewer: Sewer - Public
- Water: Public
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Location
Approximate location based on the listing address.
