Active
1033 Amarillo AVE
PALO ALTO CA, 94303
$6,298,000
$1,922.47 per sqft
Active
3,276 sqft
Multi-family
Built in 1947
Listed by KW Advisors, Wen Guo RE Group, Listing Contact: 6508175000
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.
ML81958081
MLSⓇ ID
May 9, 2024
Updated
Map
1033 Amarillo AVE
PALO ALTO CA, 94303
Interior Features
Total Stories
1
Interior Features
Hardwood, Laminate, Tile
Appliances
Dishwasher, Refrigerator, Oven, Range, Washer, Disposal
Floor Description
Hardwood, Laminate, Tile
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.48 Acres
Roof
Composition, Shingle
Sewer
Public Sewer
School Information
School District
481
Other Property Details
Area Name
South Palo Alto
Garage
Yes
Garage Spaces
5
Parking
Attached, Detached
Parking Total
3
View
No
County
Santa Clara
Water Source
Public
Pool
No
Zoning
R1
Buyer Agency Compensation
2.5%
Listed by KW Advisors, Wen Guo RE Group,
Listing Contact: 6508175000
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Data last updated 6:08 AM UTC, 5/9/2024