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$12,000,000
Est. payment /mo
0.46 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81997363
HOA Y/N No
Year Built 1956
Annual Tax Amount $143,124
Lot Size 0.459 Acres
Property Description
Hawthorne Apartments is a stunning apartment community located at 325-327 Hawthorne Ave, just two blocks away from Downtown Palo Alto. Situated on two contiguous parcels totaling 20,000 square feet, the subject property was originally constructed in 1956 and has a gross building area of approximately 9,665 square feet, offering its tenants beautifully-designed one-bedroom floor plans. Potential investors benefit from the stability of a five-year lease, secured by a corporate tenant for select units. Tenants benefit from their prime location, being walking distance from Downtown Palo Alto, Stanford benefit, and Stanford Shopping Center, all situated in a dynamic area with convenient access to public transportation, parks, and a variety of local amenities. Additionally, the Palo Alto Caltrain station is just a short walk away (0.5mi), providing connectivity to the rest of the Bay Area. Hawthorne Apartments is well-positioned in one of the Bay Areas most dynamic and desirable cities. With historic neighborhoods, diverse cultural attractions, and vibrant entertainment, shopping, and nightlife district, Palo Alto is an exciting destination for business or pleasure. Palo Alto was also recently ranked #6 on the livability list of Top 100 Best Places to Live in America.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning RM20
Interior
Heating Wall Furnace
Fireplace No
Exterior
Roof Type Shingle
Total Parking Spaces 7
Building
Water Public
Schools
School District Palo Alto Unified
Others
Tax ID 12012021
Special Listing Condition Standard
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Listed by Adam S. Levin • Marcus & Millichap