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530 Webster St 17 Unit Apartment Building $10,500,000 ($617,647/Unit) 4.26% Cap Rate Palo Alto, CA 94301
Investment Highlights
- 16 units in the heart of downtown Palo Alto, 11,035 total sf on a large 15,000 sf lot in an A+ location
- Nine 1-bed/1-bath units + Seven over-sized Studios
- In-unit laundry in all large 1-bed units; updated kitchens and baths in almost all units
- 1.3M Capital Improvements implemented in 2019, including 400 AMP panel with new interior sub-panels, copper plumbing, Romex wiring, stucco refresh
- Gorgeous architecture with a beautiful courtyard and fountain centerpiece — a building people stop to photograph
- 8 garages onsite, plus additional storage and a laundry room
Executive Summary
BROKER TOUR (CLIENTS WELCOME) ON THURSDAY, JULY 16 FROM 11:00AM - 1:00PM
A rare 16-unit trophy asset in the heart of Downtown Palo Alto. This stunning 1920s-era Spanish Colonial Revival building sits on a generous 15,000 SF lot with 11,035 SF of building area, half a block from University Avenue's renowned dining, shopping, and retail - an A+ location that speaks for itself. The unit mix features 9 1-bed/1-bath units and 7 oversized studios, almost all with updated kitchens and baths, and in-unit laundry in all large 1-bedroom units. The property is a showpiece: tile roofline, stucco exterior, arched windows/doorways, wrought-iron, and a lushly landscaped courtyard centered on a classic tiered fountain - the kind of building people stop to photograph. Ownership invested ~$1.3M in capital improvements in 2019, including new 400 AMP electrical panel, updated interior sub-panels, copper plumbing, Romex wiring, and exterior stucco refresh. 8 onsite garages, add'l storage, and dedicated laundry room. Recently signed June 2026 leases confirm market rents are achievable. Rarely does a property like this come to market - an architectural beauty in an irreplaceable location, offering stable in-place cash flow, proven rent upside, and the kind of curb appeal that simply can't be built today. A true once-in-a-generation opportunity for the discerning investor!
A rare 16-unit trophy asset in the heart of Downtown Palo Alto. This stunning 1920s-era Spanish Colonial Revival building sits on a generous 15,000 SF lot with 11,035 SF of building area, half a block from University Avenue's renowned dining, shopping, and retail - an A+ location that speaks for itself. The unit mix features 9 1-bed/1-bath units and 7 oversized studios, almost all with updated kitchens and baths, and in-unit laundry in all large 1-bedroom units. The property is a showpiece: tile roofline, stucco exterior, arched windows/doorways, wrought-iron, and a lushly landscaped courtyard centered on a classic tiered fountain - the kind of building people stop to photograph. Ownership invested ~$1.3M in capital improvements in 2019, including new 400 AMP electrical panel, updated interior sub-panels, copper plumbing, Romex wiring, and exterior stucco refresh. 8 onsite garages, add'l storage, and dedicated laundry room. Recently signed June 2026 leases confirm market rents are achievable. Rarely does a property like this come to market - an architectural beauty in an irreplaceable location, offering stable in-place cash flow, proven rent upside, and the kind of curb appeal that simply can't be built today. A true once-in-a-generation opportunity for the discerning investor!
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$668,520
|
$64.68
|
| Other Income |
$15,045
|
$1.46
|
| Vacancy Loss |
$20,056
|
$1.94
|
| Effective Gross Income |
$663,509
|
$64.19
|
| Taxes |
$126,942
|
$12.28
|
| Operating Expenses |
$89,501
|
$8.66
|
| Total Expenses |
$216,443
|
$20.94
|
| Net Operating Income |
$447,066
|
$43.25
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $668,520 |
| Annual Per SF | $64.68 |
| Other Income | |
|---|---|
| Annual | $15,045 |
| Annual Per SF | $1.46 |
| Vacancy Loss | |
|---|---|
| Annual | $20,056 |
| Annual Per SF | $1.94 |
| Effective Gross Income | |
|---|---|
| Annual | $663,509 |
| Annual Per SF | $64.19 |
| Taxes | |
|---|---|
| Annual | $126,942 |
| Annual Per SF | $12.28 |
| Operating Expenses | |
|---|---|
| Annual | $89,501 |
| Annual Per SF | $8.66 |
| Total Expenses | |
|---|---|
| Annual | $216,443 |
| Annual Per SF | $20.94 |
| Net Operating Income | |
|---|---|
| Annual | $447,066 |
| Annual Per SF | $43.25 |
Property Facts
| Price | $10,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $617,647 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 4.26% | Building Size | 10,336 SF |
| Gross Rent Multiplier | 15.71 | No. Stories | 2 |
| No. Units | 17 | Year Built/Renovated | 1927/2019 |
| Property Type | Multifamily | Parking Ratio | 0.5/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM5, Palo Alto | ||
| Price | $10,500,000 |
| Price Per Unit | $617,647 |
| Sale Type | Investment |
| Cap Rate | 4.26% |
| Gross Rent Multiplier | 15.71 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 10,336 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2019 |
| Parking Ratio | 0.5/1,000 SF |
| Zoning | RM5, Palo Alto |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Courtyard
- Laundry Facilities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $3,552 | 600 - 660 |
| Studios | 8 | $3,125 | 590 - 600 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 120-03-059 | Total Assessment | $3,058,240 |
| Land Assessment | $718,535 | Annual Taxes | $126,942 ($12.28/SF) |
| Improvements Assessment | $2,339,705 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
120-03-059
Land Assessment
$718,535
Improvements Assessment
$2,339,705
Total Assessment
$3,058,240
Annual Taxes
$126,942 ($12.28/SF)
Tax Year
2025 Payable 2025
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530 Webster St