365 Everett Ave
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365 Everett Ave
11 Unit Apartment Building $7,050,000 ($640,909/Unit) 3.72% Cap Rate Palo Alto, CA 94301
Investment Highlights
- Steps from Downtown Palo Alto
- 3 of 11 units renovated
- Prime location with upside in rents
Executive Summary
Showing Units: Wednesday Sept 18th from 2pm - 3:30pm ...The R&Z Group of Compass Commercial is proud to present a remarkable investment opportunity at 365 Everett Ave, located in the heart of Downtown Palo Alto, CA. This 11 unit apartment consists of (1) 2-bed,1-bath unit and (10) 1-bed, 1-bath units. Three of the units have been thoughtfully renovated, showcasing premium upgrades including modernized flooring, kitchens, and bathrooms. The building also offers convenient amenities such as storage rooms, dedicated carports and parking spaces, private courtyards for ground-floor tenants, a private patio for the 2-bed unit, and an on-site laundry facility. With a total of 8,746 square feet of living space situated on a 0.33-acre lot, this property exemplifies pride of ownership. Just steps away from Downtown Palo Alto, the property offers immediate access to acclaimed restaurants, boutique shops, and the iconic Stanford Theater. Its also located less than 1.5 miles from the prestigious Stanford University and the Stanford Shopping Center, placing tenants at the center of it all. Contact The R&Z Group of Compass Commercial today to arrange a viewing and secure this outstanding investment - SHOWING UNITS: WEDNESDAY SEPT 18th from 2pm - 3:30pm.
Due Diligence: https://forms.gle/9uKtjkNuD9gjaHU87
Due Diligence: https://forms.gle/9uKtjkNuD9gjaHU87
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$381,348
|
$26.53
|
| Other Income |
$9,687
|
$0.67
|
| Vacancy Loss |
$11,440
|
$0.80
|
| Effective Gross Income |
$379,595
|
$26.40
|
| Taxes |
$82,929
|
$5.77
|
| Operating Expenses |
$34,313
|
$2.39
|
| Total Expenses |
$117,242
|
$8.16
|
| Net Operating Income |
$262,353
|
$18.25
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $381,348 |
| Annual Per SF | $26.53 |
| Other Income | |
|---|---|
| Annual | $9,687 |
| Annual Per SF | $0.67 |
| Vacancy Loss | |
|---|---|
| Annual | $11,440 |
| Annual Per SF | $0.80 |
| Effective Gross Income | |
|---|---|
| Annual | $379,595 |
| Annual Per SF | $26.40 |
| Taxes | |
|---|---|
| Annual | $82,929 |
| Annual Per SF | $5.77 |
| Operating Expenses | |
|---|---|
| Annual | $34,313 |
| Annual Per SF | $2.39 |
| Total Expenses | |
|---|---|
| Annual | $117,242 |
| Annual Per SF | $8.16 |
| Net Operating Income | |
|---|---|
| Annual | $262,353 |
| Annual Per SF | $18.25 |
Property Facts
| Price | $7,050,000 | Property Subtype | Apartment |
| Price Per Unit | $640,909 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.72% | Lot Size | 0.33 AC |
| Gross Rent Multiplier | 18.49 | Building Size | 14,377 SF |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1954 |
| Price | $7,050,000 |
| Price Per Unit | $640,909 |
| Sale Type | Investment |
| Cap Rate | 3.72% |
| Gross Rent Multiplier | 18.49 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 14,377 SF |
| No. Stories | 2 |
| Year Built | 1954 |
Unit Amenities
- Dishwasher
- Heating
- Ceiling Fans
- Refrigerator
- Range
- Double Pane Windows
- Patio
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $3,068 | - |
| 2+1 | 1 | $3,995 | - |
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Walk Score ®
Walker's Paradise (90)
Bike Score ®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Number | 120-14-036 | Total Assessment | $3,589,496 |
| Land Assessment | $1,769,992 | Annual Taxes | $82,929 ($5.77/SF) |
| Improvements Assessment | $1,819,504 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
120-14-036
Land Assessment
$1,769,992
Improvements Assessment
$1,819,504
Total Assessment
$3,589,496
Annual Taxes
$82,929 ($5.77/SF)
Tax Year
2023
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365 Everett Ave
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