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2106 - 2122 Williams: 4-Plex + Duplex 2122 Williams St 6 Unit Apartment Building $4,590,000 ($765,000/Unit) 2.94% Cap Rate Palo Alto, CA 94306
Investment Highlights
- ix units on two adjacent parcels (Fourplex + Duplex) Available together or individually
- Strong in-place income with value-add, ADU, and redevelopment potential
- Potential for residential-style financing using separate loans on each parcel
- Prime College Terrace location adjacent to Stanford University and Stanford Research Park
- Direct gated access to Cameron Park and walking distance to California Avenue and Caltrain
Executive Summary
Rare opportunity to acquire a six-unit multifamily investment in Palo Alto's highly desirable College Terrace neighborhood. Offered on two adjacent parcels, the property consists of a fourplex and duplex which are available individually or together as 6 well-maintained units with strong in-place income and significant long-term upside. Investors can pursue multiple strategies including value-add renovations, ADU development, owner occupancy, long-term hold, or future redevelopment. Located just steps from Stanford University, Stanford Research Park, California Avenue, and Caltrain, the property benefits from exceptional tenant demand and one of the strongest rental markets in Silicon Valley. The parcels may be purchased together or separately and offer a unique opportunity to utilize residential-style financing through separate loans on each parcel.
Property Facts
| Price | $4,590,000 | Apartment Style | Low-Rise |
| Price Per Unit | $765,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 2.94% | Building Size | 3,298 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 22.67 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1955 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 | ||
| Price | $4,590,000 |
| Price Per Unit | $765,000 |
| Sale Type | Investment |
| Cap Rate | 2.94% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 22.67 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,298 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $2,823 | 721 - 775 |
| 2+1 | 1 | $3,925 | 915 |
| Studios | 2 | $2,400 | 400 - 462 |
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Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 137-02-092 | Improvements Assessment | $466,386 |
| Land Assessment | $1,928,023 | Total Assessment | $2,394,409 |
Property Taxes
Parcel Number
137-02-092
Land Assessment
$1,928,023
Improvements Assessment
$466,386
Total Assessment
$2,394,409
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