Log In/Sign Up
Your email has been sent.
Courtyard at Bay Road 1730 Bay Rd 78 Unit Apartment Building $26,522,481 CAD ($340,032 CAD/Unit) 3.87% Cap Rate Palo Alto, CA 94303
INVESTMENT HIGHLIGHTS
- High-Barrier Silicon Valley Location: Situated across U.S. 101 from downtown Palo Alto, the property sits in one of the most affluent U.S. markets
- Strong Occupancy & Proven Performance: 96% occupancy with consistent collections, producing a current NOI of approximately $734,000
- The offering supports new debt financing at competitive rates, with potential to improve cash-on-cash returns
- Surrounded by major employers including Stanford University, Meta, and Google
- 148,924 SF of affordable housing in the center of Silicon Valley—a rare combination of size, mission alignment, and long-term yield stability.
- Call listing brokers for more information
EXECUTIVE SUMMARY
Courtyard at Bay Road is a 78-unit affordable housing community located in the heart of Silicon Valley—minutes from downtown Palo Alto, Stanford University, and the global headquarters of Meta, Google, and Tesla. Built in 2006, the property offers over 148,000 square feet of rentable area on a 1.6-acre site, combining modern construction with long-term affordability in one of the most supply-constrained and highest-barrier-to-entry markets in the country.
The subject property serves households earning between 30% and 60% of area median income, providing a mix of one-, two-, three-, and four-bedroom units. Residents benefit from proximity to major job centers, transit connections, and the Bay Trail, while just a short drive from Stanford Shopping Center and downtown Menlo Park. The property is 96% occupied, with in-place rents well below market comparables, positioning it for stable long-term performance and future upside through compliance safe rent growth.
East Palo Alto has undergone substantial reinvestment over the last decade, transitioning from a historically under-served community into one of the most active redevelopment corridors in the Bay Area. With new mixed-use projects, improved retail, and transit access, the neighborhood has become a strategic focus for institutional affordable housing investors.
The property has a LIHTC Regulatory Agreement on it that must be followed. The right buyer will see an opportunity to purchase a 2006 Construction Project, with strong upside in rents, long-term affordability for residents, in an area with fast-growing incomes that will continue to push rents up. Furthermore, with the Big Beautiful Bill passed this summer, there is a strong possibility of re-syndicating the property with a fresh round of Tax Credits to upgrade the physical plant and push down operating costs.
The subject property serves households earning between 30% and 60% of area median income, providing a mix of one-, two-, three-, and four-bedroom units. Residents benefit from proximity to major job centers, transit connections, and the Bay Trail, while just a short drive from Stanford Shopping Center and downtown Menlo Park. The property is 96% occupied, with in-place rents well below market comparables, positioning it for stable long-term performance and future upside through compliance safe rent growth.
East Palo Alto has undergone substantial reinvestment over the last decade, transitioning from a historically under-served community into one of the most active redevelopment corridors in the Bay Area. With new mixed-use projects, improved retail, and transit access, the neighborhood has become a strategic focus for institutional affordable housing investors.
The property has a LIHTC Regulatory Agreement on it that must be followed. The right buyer will see an opportunity to purchase a 2006 Construction Project, with strong upside in rents, long-term affordability for residents, in an area with fast-growing incomes that will continue to push rents up. Furthermore, with the Big Beautiful Bill passed this summer, there is a strong possibility of re-syndicating the property with a fresh round of Tax Credits to upgrade the physical plant and push down operating costs.
PROPERTY FACTS
| Price | $26,522,481 CAD | Building Class | C |
| Price Per Unit | $340,032 CAD | Lot Size | 1.60 AC |
| Sale Type | Investment | Building Size | 148,924 SF |
| Cap Rate | 3.87% | Average Occupancy | 96% |
| No. Units | 78 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2006 |
| Property Subtype | Apartment | Parking Ratio | 2.7/1,000 SF |
| Apartment Style | Mid-Rise |
| Price | $26,522,481 CAD |
| Price Per Unit | $340,032 CAD |
| Sale Type | Investment |
| Cap Rate | 3.87% |
| No. Units | 78 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.60 AC |
| Building Size | 148,924 SF |
| Average Occupancy | 96% |
| No. Stories | 4 |
| Year Built | 2006 |
| Parking Ratio | 2.7/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Business Center
- Controlled Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 25 | - | 690 |
| 2+2 | 25 | - | 915 |
| 3+2 | 22 | - | 1,100 - 1,149 |
| 4+2 | 6 | - | 1,200 |
1 1
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 063-221-590 | Improvements Assessment | $27,277,853 CAD |
| Land Assessment | $4,599,488 CAD | Total Assessment | $31,877,341 CAD |
PROPERTY TAXES
Parcel Number
063-221-590
Land Assessment
$4,599,488 CAD
Improvements Assessment
$27,277,853 CAD
Total Assessment
$31,877,341 CAD
CONTACTS
-
Yuri Sergunin, CCIM -
Delaney Whitaker -
Isaak Heitzeberg -
J.J. Taughinbaugh -
The S&T Group | Marcus & Millichap
1 of 22
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Courtyard at Bay Road | 1730 Bay Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.