2050 Hanover ST

PALO ALTO, CA, 94306

$6,300,000

$930 per ft²
$6,300,000
$930 per ft²
Active
Active
 - For Sale
carpenters-square
6,774 ft²
property_type
Commercial
calendar
Built 1938
Once-in-a-lifetime oppty to acquire an irreplaceable asset in Palo Alto (next to Stanford University). 1341 Stanford (7 Homes), 2050 Hanover (6 Homes) available separately or together (13 Detached Homes). Individually-addressed, detached rental homes w/ front & back yards command higher rents compared to Apts. Low Operating Expense (tenants pay all utilities), low maintenance costs, and headache-free, easy management. Current CAP Rate (Avg Rent @ $3.4/SF): 2.11% / Current GRM: 25.7 AND Pro-Forma CAP Rate (Avg Rent @ $5/SF): 3.76% / Pro-Forma GRM: 17.6. High-End Remodel CAP Rate (Avg Rent @ $6/SF): 4.77%/Pro-Forma GRM: 15.1. Cost/SF: $1,056/SF / Investors may consider modifying floorplans (add bedrooms & bath) and conduct high-end renovations of kitchen, bathrooms & fence up private backyards to achieve even higher rents. Potential for adding SF/expansion at back of property and ADUs. Oversized Parcels offer tremendous future potential/possibilities. Co-List w/ Mark Zamudio
MLS® ID:
ML81921601
Updated:
3/22/23

Interior Features

Kitchen Features
Countertop - Granite, Countertop - Marble, Dishwasher, Exhaust Fan, Garbage Disposal, Hookups - Gas, Microwave, Oven Range - Gas, Pantry, Refrigerator
Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Washer / Dryer
Floor Description
Hardwood
Cooling
Central AC, Central Forced Air - Gas
Heating
Central Forced Air - Gas

Exterior/Building Features

Lot Size
0.54 acres lot
Roof
Composition, Shingle
Sewer
Sewer - Public

Other Property Details

Area Name
236
Garage
Yes
Garage Spaces
6
Parking
Detached Garage, Off-Street Parking, Uncovered Parking
Parking Total
6.0
View
Y
County
Santa Clara
Utilities
Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
Water Source
Individual Water Meter, Public
Pool
Yes
Zoning
R1

Courtesy of Colliers Parrish International, Don Sung,
Listing Contact: 650-380-5188 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Mpire Luxe Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 5:12 PM UTC, 3/22/23

 

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