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Once-in-a-lifetime opportunity to acquire an irreplaceable asset in Palo Alto (next to Stanford Univ.). 1341 Stanford (7 Homes), 2050 Hanover (6 Homes) available separately or together (13 Detached Homes). Individually-addressed, detached rental homes w/ front & backyards 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 (Avg Rent @ $6/SF) CAP Rate: 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, also ADUs. Oversized Parcels offer tremendous future potential/possibilities. Co-Listed w/ Mark Zamudio
| LAST UPDATED | 5/8/2023 | YEAR BUILT | 1939 |
|---|---|---|---|
| COMMUNITY | College | GARAGE SPACES | 7.0 |
| COUNTY | Santa Clara | STATUS | Sold |
| PROPERTY TYPE(S) | Multi Family |
| School District | Palo Alto Unified |
|---|---|
| Elementary School | Escondido Elementary |
| Jr. High School | Frank S. Greene Middle |
| High School | Palo Alto High |
| ADDITIONAL DETAILS | |
| AIR | Central AC, Central Forced Air - Gas |
|---|---|
| AIR CONDITIONING | Yes |
| AMENITIES | Additional Storage |
| AREA | College |
| BASEMENT | Foundation: Crawl Space |
| GARAGE | Detached Garage, Off-Street Parking, Uncovered Parking, Yes |
| HEAT | Central Forced Air - Gas, Fireplace |
| INTERIOR | Floors: Hardwood |
| LOT | 0.7551 acre(s) |
| PARKING | 7 |
| SEWER | Sewer: Sewer - Public |
| TAXES | 82225 |
| WATER | Water: Individual Water Meter,Public |
TOTAL MONTHLY PAYMENT
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. All real estate listings in the MLSListings MLS system are marked with the MLSListings 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.
Based on information from MLSListings MLS as of 5/12/25 9:50 PM PDT. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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This IDX solution is (c) Diverse Solutions 2025.
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