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Rare Palo Alto 7 Unit Trophy Asset 251 Middlefield Rd 7 Unit Apartment Building $8,500,000 ($1,214,286/Unit) 1.32% Cap Rate Palo Alto, CA 94301
INVESTMENT HIGHLIGHTS
- Iconic 1915 architecture seamlessly restored and reimagined through a 2019 full renovation
- Trophy multifamily asset in prestigious Palo Alto 94301
- Finished basement with private entrance, kitchenette, and bath—offering flexibility for amenity space or additional income
- A rare blend of historic charm and sophisticated modern luxury
- Timeless design featuring handcrafted stonework, rich hardwood floors, vaulted ceilings, and skylights
- Walkable to Stanford University and downtown Palo Alto, and within minutes of Google, Meta, HP, and leading Silicon Valley firms
EXECUTIVE SUMMARY
Constructed in 1915 and masterfully reimagined in 2019, this iconic multifamily residence stands as a rare trophy property in one of Palo Altos most prestigious neighborhoods. With its blend of historic architecture and contemporary refinement, it is designed for those who value heritage, craftsmanship, and enduring quality. Interiors are finished with top-tier materials and fixtures, including stainless steel appliances, granite countertops, hardwood and tile flooring, vaulted ceilings, skylights, and double-pane windows. Each unit offers an elevated living experience with mini-split systems and select central heating for year-round comfort. Most units currently serve as corporate housing due to job opportunities in the area, offering consistent rental demand. A finished basement with private access, kitchenette, and bathroom provides value-add opportunities for additional income. A centralized laundry room adds convenience for residents and management. Professionally landscaped grounds are maintained daily, with an automated drip system. Near world-renowned institutions and employers, including Stanford, Google, Meta, and HP, this fully occupied property offers stability and prestige. This is more than a multifamily asset, it is an investment in architectural legacy.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $8,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,214,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 1.32% | Building Size | 9,215 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1915/2019 |
| Zoning | R1 - R1 zoning is legal non conforming | ||
| Price | $8,500,000 |
| Price Per Unit | $1,214,286 |
| Sale Type | Investment |
| Cap Rate | 1.32% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 9,215 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1915/2019 |
| Zoning | R1 - R1 zoning is legal non conforming |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Basement
- Dining Room
- Double Pane Windows
- Skylights
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 300 - 330 |
| 1+1 | 3 | - | 550 - 650 |
| 2+1 | 1 | - | 750 |
| 2+2 | 1 | - | 1,900 |
| 4+2 | 1 | - | - |
Walk Score®
Very Walkable (85)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 003-01-076 | Improvements Assessment | $3,183,624 (2025) |
| Land Assessment | $5,306,040 (2025) | Total Assessment | $8,489,664 (2025) |
PROPERTY TAXES
Parcel Number
003-01-076
Land Assessment
$5,306,040 (2025)
Improvements Assessment
$3,183,624 (2025)
Total Assessment
$8,489,664 (2025)
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Rare Palo Alto 7 Unit Trophy Asset | 251 Middlefield Rd
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