1061 Alma St, Palo Alto, CA 94301

List Price
Price Change
▼ $450,000 1650425779
Sqft. of Residence
Lot Size
Listing Area

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

Concrete Perimeter and Slab
Composition, Shingle
Sewer - Public

Mortgage Calculator

Amount of Loan
Annual Interest Rate
Term of Loan

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Courtesy of Katz Inc, Eric Katz.

board logo

Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Real Estate Company are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. Copyright 2022 MLSListings. All rights reserved. This data is updated daily. Last updated