1061 Alma St, Palo Alto, CA 94301

$5,500,000
2,577
SqFt
List Price
$5,500,000
Price Change
▼ $450,000 1650425779
MLS#
ML81869608
Zoning
R1
Sqft. of Residence
2,577
Lot Size
10,500
Listing Area
Professorville

Property Description

1061 Alma Street is a rare investment opportunity in the coveted historic Professorville district in Palo Alto. This pride of ownership asset is walking distance to Stanford University, & features (4) single-story 1BD/1BA cottages on a large 10,500 square foot lot (0.24 acres). There is a unique opportunity to develop this parcel in accordance with SB-10, which facilitates the passage of high-density housing redevelopments and allows cities to forego environmental review and override local land-use restrictions when approving developments. Another parcel on the same lot size is under planning review to develop 36 studios with ground-level office space & below-grade parking at 955 Alma Street, only 1 block away from the subject property. There is also potential to split the lot into two parcels, creating further development appeal. Buyer to verify development potential with city and local ordinances.

Additional Information

Foundation
Concrete Perimeter and Slab
Roof
Composition, Shingle
Water
Public
Sewer
Sewer - Public

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Katz Inc, Eric Katz.

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