Property Details
About this Property
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
MLS Listing Information
MLS #
ML81921601
MLS Source
MLSListings, Inc.
Interior Features
Kitchen
Countertop - Granite, Countertop - Marble, Exhaust Fan, Hookups - Gas, Pantry
Appliances
Dishwasher, Exhaust Fan, Garbage Disposal, Microwave, Oven Range - Gas, Washer/Dryer
Flooring
Hardwood
Cooling
Central Forced Air, Central Forced Air - Gas
Heating
Central Forced Air - Gas
Exterior Features
Roof
Composition, Shingle
Foundation
Crawl Space
Parking, School, and Other Information
Garage/Parking
Detached, Off-Street Parking, Garage: 6 Car(s)
Elementary District
Palo Alto Unified
High School District
Palo Alto Unified
Sewer
Public Sewer
Water
Public
Zoning
R1
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| – | – | 6 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 982 | 2 | 1/0 | $3,295 | $3,695 | 6 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
2050 Hanover St is a Residential Income in Palo Alto, CA 94306. This 6,774 square foot property sits on a 0.542 Acres Lot and features – bedrooms & – full bathrooms. It is currently priced at – and was built in 1938. This address can also be written as 2050 Hanover St, Palo Alto, CA 94306.
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This listing information is up-to-date as of June 19, 2024. For the most current information, please contact Don Sung, (650) 380-5188
