1033 Amarillo AVE, Palo Alto, CA 94303
- $6,298,000
- 3,276
- SqFt
- List Price
- $6,298,000
- MLS#
- ML81958081
- Status
- ACTIVE
- Zoning
- R1
- Sqft. of Residence
- 3,276
- Lot Size
- 20,788
- Listing Area
- South Palo Alto
Property Description
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.
Additional Information
- Acres
- 0.48
- Age
- 77
- Cooling System
- None
- Floor Covering
- Laminate, Stone, Tile, Carpet, Hardwood
- Foundation
- Concrete Slab
- Garage Parking
- Attached Garage, Detached Garage
- Heating System
- Wall Furnace
- Laundry Facilities
- Washer / Dryer
- Living Area
- 3,276
- Lot Size
- 20,788
- Neighborhood
- South Palo Alto
- Other Utilities
- Public Utilities
- Roof
- Shingle, Composition
- Sewer
- Sewer - Public
- Special Features
- Other
- Total Number Of Units
- 4
- Zoning
- R1
Mortgage Calculator
Listing courtesy of Wen Guo RE Group from KW Advisors. 650-817-5000
Based on information from MLSListings MLS as of All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Copyright 2024 MLSListings Inc. All rights reserved