Discover an extraordinary opportunity in Palo Alto's vibrant midtown: a sprawling 21k sq ft property, one of the area's largest and most desirable lots. This unique offering includes 4 charming cottages: three 2-bed, 1-bath, and one 1-bed, 1-bath homes, complete with 5 garages, blending cozy living with vast development potential. Just got voted and approved for subdivision into two 10k sq ft lots, the site is ripe for the creation of two luxurious single-family homes, potentially spanning 5,000 sq ft each. The flexibility extends to the option of constructing two 4,000 sq ft main residences plus two expansive 1,200 sq ft ADUs, potentially leveraging the latest AB 1033 bill allowing ADUs to be sold as separate condos. This opens the door to transforming the property into four distinct units, with a resale value potential of $15-20M. The proposed development offers an exceptional profit margin, all within a prime location near Stanford University, Downtown Palo Alto, and top rated schools.
This property is $3.2M more than the Median Sold Price and $238/SqFt more than other homes in Palo Alto, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #ML81953716
Listing Office:
Office Name: KW Advisors
Office Phone: (650) 627-3700
Listing Agent: Wen Guo RE Group
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/10/2024, 8:20:42 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Apr 30, 2021
Apr 30, 2021Home Sold
$5,000,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$3,488
$217,235
2020
$3,487
$215,008
2019
$3,369
$210,793
2018
$3,370
$206,660
2017
$3,309
$202,609
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
9
/10
Ohlone Elementary School
950 Amarillo Ave
Distance between this listing and this school0.19 miles
Public District Grades KG-5
8
/10
Palo Verde Elementary School
3450 Louis Rd
Distance between this listing and this school0.88 miles
Public District Grades KG-5
9
/10
Herbert Hoover Elementary School
445 E Charleston Rd
Distance between this listing and this school1.68 miles
Public District Grades KG-5
Middle School
8
/10
Jane Lathrop Stanford Middle School
480 E Meadow Dr
Distance between this listing and this school1.36 miles
Public District Grades 6-8
High School
9
/10
Palo Alto High School
50 Embarcadero Rd
Distance between this listing and this school1.96 miles
Public District Grades 9-12
Assigned Schools
9
/10
Ohlone Elementary School
950 Amarillo Ave
Distance between this listing and this school0.19 miles
Public District Grades KG-5
8
/10
Palo Verde Elementary School
3450 Louis Rd
Distance between this listing and this school0.88 miles
Public District Grades KG-5
9
/10
Herbert Hoover Elementary School
445 E Charleston Rd
Distance between this listing and this school1.68 miles
Public District Grades KG-5
Assigned Schools
8
/10
Jane Lathrop Stanford Middle School
480 E Meadow Dr
Distance between this listing and this school1.36 miles
Public District Grades 6-8
Nearby Schools
7
/10
David Starr Jordan Middle School
750 N California Ave
Distance between this listing and this school0.72 miles
Public District Grades 6-8
2
/10
Cesar Chavez Elementary School
2450 Ralmar Ave
Distance between this listing and this school2.54 miles
Public District Grades 6-8
Assigned Schools
9
/10
Palo Alto High School
50 Embarcadero Rd
Distance between this listing and this school1.96 miles
Public District Grades 9-12
Nearby Schools
3
/10
East Palo Alto Academy
475 Pope St
Distance between this listing and this school2.36 miles
Public Charter Grades 9-12
9
/10
Henry M. Gunn High School
780 Arastradero Rd
Distance between this listing and this school2.89 miles
The neighbors living near this home have an average income of $115,735. Typical income of Palo Alto, CA residents is between $100k-200k annually. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1033 Amarillo Ave
What is the listing price of this property?
The listing price of 1033 Amarillo Ave property is $6,298,000.
What type of property is this?
The property 1033 Amarillo Ave is a house located in Palo Alto, California, 94303.
Is this property for sale now?
Active Listing: 1033 Amarillo Ave is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 1033 Amarillo Ave in Palo Alto, CA and zip code 94303 in the Midtown neighborhood. This 3,276 square foot home, which was built in 1947, sits on a 0.48 acre lot. Features: 7 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since March 19, 2024 and is currently priced at $6,298,000.
In April 2024 more than 37 listings in Palo Alto, CA were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 17 were sold below. The number of homes for sale in Palo Alto, CA increased by 26% between March 2024 and April 2024. In April 2024, listings were on the market for 22 days. During the same period, the median list price in this real estate market was $3,000,000.
From Rocket Homes Real Estate and based on county public records data.