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Description
Once-in-a-lifetime oppty to acquire an irreplaceable asset in Palo Alto (next to Stanford University). 1341 Stanford (7 Homes), 2050 Hanover (6 Homes) available separately or together (13 Detached Homes). Individually-addressed, detached rental homes w/ front & back yards command higher rents compared to Apts. Low Operating Expense (tenants pay all utilities), low maintenance costs, and headache-free, easy management. Current CAP Rate (Avg Rent @ $3.4/SF): 2.11% / Current GRM: 25.7 AND Pro-Forma CAP Rate (Avg Rent @ $5/SF): 3.76% / Pro-Forma GRM: 17.6. High-End Remodel CAP Rate (Avg Rent @ $6/SF): 4.77%/Pro-Forma GRM: 15.1. Cost/SF: $1,056/SF / Investors may consider modifying floorplans (add bedrooms & bath) and conduct high-end renovations of kitchen, bathrooms & fence up private backyards to achieve even higher rents. Potential for adding SF/expansion at back of property and ADUs. Oversized Parcels offer tremendous future potential/possibilities. Co-List w/ Mark Zamudio
Location
Listing Agent: Don Sung Agent phone: 650-380-5188 Courtesy of: Colliers Parrish International The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. Real estate listings held by brokerage firms other than Intero Real Estate Services are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. The broker providing this data believes the data to be correct, but advises interested parties to confirm all information before relying on it for a purchase decision. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2022 MLSListings Inc. All rights reserved. http://www.mlslistings.com/ Updated: 21st March, 2023 5:15 AM (UTC)
