6-unit apartment building in the heart of Silicon Valley in a great Palo Alto location. 1.5 miles from Stanford University, less than a mile from the Stanford Research Park, and 1 mile from the California Ave Caltrain Station. The property has five 1-bed, 1-bath units, and one large 2-bed, 1-bath owner's unit with private balcony and fireplace. Perfect for an owner to live in the front unit and rent out the rest. Well maintained units with minimal deferred maintenance, but huge upside in rents in their as-is condition, or through renovation. Half of the units are eligible for rent increases, which the seller has already served to them, and the other half have expirations within the next 6 months. New water heater, all copper plumbing and dual pane windows. ADU potential by converting some of the tuck-under spaces into a new unit.
