1033 Amarillo AVE, PALO ALTO, CA 94303

MLS# ML81953716
Status: Active

  • $6,298,000

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  • 7

    Bedrooms
  • 4

    Bathrooms
  • 3276

    Approx. Sq. Ft.
  • 0.4772

    Approx. Lot Size
  • Listing Class: Residential
  • Property Type: Single Family Home
  • Year Built: 1947
  • Stories: 1

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    Details

    Discover an extraordinary opportunity in Palo Alto's vibrant midtown: a sprawling 21k sq ft property, one of the area's largest and most desirable lots. This unique offering includes 4 charming cottages: three 2-bed, 1-bath, and one 1-bed, 1-bath homes, complete with 5 garages, blending cozy living with vast development potential. Just got voted and approved for subdivision into two 10k sq ft lots, the site is ripe for the creation of two luxurious single-family homes, potentially spanning 5,000 sq ft each. The flexibility extends to the option of constructing two 4,000 sq ft main residences plus two expansive 1,200 sq ft ADUs, potentially leveraging the latest AB 1033 bill allowing ADUs to be sold as separate condos. This opens the door to transforming the property into four distinct units, with a resale value potential of $15-20M. The proposed development offers an exceptional profit margin, all within a prime location near Stanford University, Downtown Palo Alto, and top rated schools.

    Features

    General Features

    • Listing ClassResidential
    • Parcel127-02-006
    • Year Built1947
    • Property TypeSingle Family Home
    • ZoningR1
    • # of Stories1
    • FoundationConcrete Slab
    • Age77
    • Horse PropertyNo

    Interior Features

    • FlooringLaminate,Stone,Tile,Carpet,Wood,Hardwood
    • Dining Room FeaturesDining Area
    • Kitchen FeaturesCountertop - Solid Surface / Corian,Dishwasher,Garbage Disposal,Oven Range - Gas,Refrigerator
    • LaundryWasher / Dryer,Inside
    • Family Room FeaturesNo Family Room

    Utilities & Energy

    • UtilitiesPublic Utilities
    • Sewer/SepticSewer - Public
    • CoolingNone
    • WaterPublic
    • HeatingWall Furnace

    Parking

    • Parking FeaturesCovered Parking,Detached Garage

      Market Conditions

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