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Chad Krakow
650-222-7090
SOLD
$6,467,681
Date 05/04/2023

2050 Hanover Street
Palo Alto, CA 94306

Multi-Family
Residential
2
Beds
1
Baths
6,774
Sq. Ft.
0.5421
Acre Lot
Courtesy: Don Sung - Colliers Parrish International

Description for 2050 Hanover Street Palo Alto, CA 94306

Home> California> Palo Alto> 94306
Once-in-a-lifetime oppty to acquire an irreplaceable asset in Palo Alto (next to Stanford University). 1341 Stanford (7 Homes), 2050 Hanover (6 Homes) available separately or together (13 Detached Homes). Individually-addressed, detached rental homes w/ front & back yards command higher rents compared to Apts. Low Operating Expense (tenants pay all utilities), low maintenance costs, and headache-free, easy management. Current CAP Rate (Avg Rent @ $3.4/SF): 2.11% / Current GRM: 25.7 AND Pro-Forma CAP Rate (Avg Rent @ $5/SF): 3.76% / Pro-Forma GRM: 17.6. High-End Remodel CAP Rate (Avg Rent @ $6/SF): 4.77%/Pro-Forma GRM: 15.1. Cost/SF: $1,056/SF / Investors may consider modifying floorplans (add bedrooms & bath) and conduct high-end renovations of kitchen, bathrooms & fence up private backyards to achieve even higher rents. Potential for adding SF/expansion at back of property and ADUs. Oversized Parcels offer tremendous future potential/possibilities. Co-List w/ Mark Zamudio

Property Details

ML81921601
Multi-Family, Other
2
Santa Clara
1 Full
1938
0.5421 Acres
Water: Individual Water Meter,Public
Sewer: Sewer - Public
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Courtesy: Don Sung - Colliers Parrish International

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Chad Krakow

Office Address

Krakow Company
P.O. Box 2025
Burlingame, CA 94011
650-344-4876

Contact

650-222-7090
DRE# 01031528

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