707-721 Sutter Ave, Palo Alto, CA 94303

$5,800,000
4,500
SqFt
List Price
$5,800,000

Property Description

* Financials based on proforma numbers. 707-721 Sutter Avenue is a prestigious 8 unit apartment community located in the world-class Midtown region of Palo Alto, California. Situated on a 0.39-acre parcel of land, the subject property was originally constructed in 1954 and has a total gross area of approximately 4,500 sf, offering residents quality and spacious one-bedroom/one-bathroom floor plans of approximately 563 square feet, with large private enclosed yards and covered patios. The investment appeal of this asset is driven by Palo Altos incredibly strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 707-721 Sutter is a highly coveted place to call home for Peninsula renters due to the close proximity to major employers, transportation corridors, shopping, dining and entertainment options. This pride of ownership asset is a truly unique opportunity to acquire a trophy investment property in the Silicon Valley.

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Courtesy of Marcus & Millichap, Adam S. Levin.

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