Park Apartment 280 E Okeefe St 16 Unit Apartment Building $6,428,625 CAD ($401,789 CAD/Unit) 4.86% Cap Rate Palo Alto, CA 94303

Welcome to 280 E. O’Keefe, a rare investment opportunity perfectly situated west of Highway 101 and north of University Avenue. This sixteen-unit apartment building offers exclusively large two-bedroom, one-bathroom units, each thoughtfully designed for comfortable living. With spacious layouts, there is excellent potential to easily convert existing dining rooms into additional bedrooms, further increasing rental income and maximizing the building’s value.
The property sits on a sizable lot that includes approximately 6,000 square feet of vacant land, offering the opportunity to build additional Accessory Dwelling Units (ADUs) and dramatically enhance the income potential. Ideally located just 1.5 miles from vibrant downtown Palo Alto, 2 miles from the prestigious Stanford University campus, 3 miles to Meta’s global headquarters, and 4 miles to Google’s headquarters, this property is at the center of Silicon Valley’s most dynamic employment and innovation hubs.
With strong existing fundamentals and a clear path for significant value-add through unit reconfigurations and land development, 280 E. O’Keefe presents an incredible opportunity for investors seeking immediate upside and long-term growth. The combination of prime location, large unit sizes, and multiple expansion strategies make this a standout asset in today’s competitive market.