340 Palo Alto AVE, Palo Alto, CA 94301
340 Palo Alto AVE, Palo Alto, CA 94301
340 Palo Alto AVE, Palo Alto, CA 94301
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Bay Area Eichler Homes

Bay Area Eichler Homes

+1(408) 506-3942
Listed by Joel Hopman, DRE #01934574 • Newmark Cornish & Carey
$6,300,000
Est. payment /mo
7,200 Sqft Lot
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Key Details

Property Type Vacant Land

Sub Type Residential Development Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82054496

Lot Size 7,200 Sqft

Property Sub-Type Residential Development Land

Source MLSListings, Inc.

Property Description

340 Palo Alto Avenue consists of a charming single-story 2 bed 1 bath home on a +/- 0.2 acre lot with rare development potential in prime North Downtown Palo Alto. Ownership has filed an SB79 application to develop a 3-story, 6-luxry condo project. The +/- 1,500-1,550 sq. ft. 3 bedroom 3.5 bath premium condos will feature large terraces overlooking the tree-lined San Francisquito Creek. The property will feature a lobby entry with an elevator, two stairwells, privatized storage for each unit, at-grade parking, an interior trash/recycling room, all-electric service, and an attractive exterior façade consisting of painted brick and wood elements, a nod to its contemporary and greenbelt surroundings. Additionally, an option may exist to add a 7th penthouse suite unit which would be a larger +/- 1,800 sq. ft. residence on its own floor, with spectacular views. The property feeds to the #1 ranked school district in California; Addition Elementary, Greene Middle and Palo Alto High schools. The amenity-rich location is convenient to retail and restaurant options of University Avenue and Stanford Shopping Center, Caltrain Station, major transportation arteries, and world-class Silicon Valley employers.

Location

State CA

County Santa Clara

Area Downtown Palo Alto

Zoning R1

Exterior

Fence None

Utilities Available Public Utilities

Building

Lot Description Grade - Level, Regular

Sewer Sewer - Public

Water Public

Others

Tax ID 120-12-045

Special Listing Condition Not Applicable

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Bay Area Eichler Homes

Bay Area Eichler Homes

+1(408) 506-3942

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