2735 Byron St 4 Unit Apartment Building Offered at $2,500,000 at a 2.35% Cap Rate Palo Alto, CA 94306

Positioned on a desirable cul-de-sac in the Midtown Neighborhood, this well-located multifamily asset offers investors a rare opportunity to own in one of the most highly desired cities of Silicon Valley. The property benefits from strong rental demand driven by one of the most dynamic employment and educational hubs in Silicon Valley.
The asset consists of 4 residential units with an attractive and highly marketable unit mix of (1) Owner’s Unit 3BD/2BA, (2) 1BD/1BA, and (1) studio units, along with a coin-operated laundry facility providing an additional income stream. Tenants enjoy access to downtown Palo Alto’s dining, retail, nightlife, and cultural amenities, as well as less than two miles from Stanford University and the city’s urban core, ensuring consistent tenant demand.
Spanning 3,263 square feet and situated on a 6,899 square foot lot, the property is constructed on a concrete perimeter foundation with crawlspace access, offering long-term durability. Parking is well above average for the submarket, featuring 4 tuck-under parking spots all assigned to tenants.
The property has seen some improvements, including upgraded dual pane windows, a newer roof replaced in 2011, a repaved driveway in 2021 and in the process of upgrading the mail and sub electrical panels. The kitchen countertops and cabinets are original, as well as the floors which are original hard wood.
Unit 2735 is the owner’s units, with 3 Bedrooms and 2 Baths, with the benefit of a private patio, a roomy living room area, and forced air heating. Owner currently pays for water, trash and sewer, but new ownership can explore implementing RUBS for additional income.