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The Ardmore 315 E Okeefe St 38 Unit Apartment Building $12,303,450 CAD ($323,775 CAD/Unit) 5% Cap Rate Palo Alto, CA 94303
Investment Highlights
- An impeccably maintained, 38 unit apartment complex
- only 2 miles from Stanford University, 2.5 miles from Meta headquarters and 5.5 miles to Google headquarters
- The property is conveniently located near major employment, retail and education hubs.
- Call listing brokers for more information
Executive Summary
Introducing The Ardmore, an impeccably maintained, 38 unit apartment complex in East Palo Alto featuring a mix of one and two bedroom units.
The .88 acre lot includes gated entry and exit driveways, leading to the lower parking level with 42 spaces.
The property is in outstanding condition, with many major improvements completed recently including the roof, drainage, water boiler and seismic retrofitting.
Amenities include a central pool with newly installed gate, private balconies (recently inspected and compliant) and an on-site laundry room which produces additional income.
Located west of Hwy 101 and north of University Ave, the property is conveniently located near major employment, retail and education hubs.
Situated only 2 miles from Stanford University, 2.5 miles from Meta headquarters and 5.5 miles to Google headquarters, the complex is in the heart of the bustling Silicon Valley corridor.
The .88 acre lot includes gated entry and exit driveways, leading to the lower parking level with 42 spaces.
The property is in outstanding condition, with many major improvements completed recently including the roof, drainage, water boiler and seismic retrofitting.
Amenities include a central pool with newly installed gate, private balconies (recently inspected and compliant) and an on-site laundry room which produces additional income.
Located west of Hwy 101 and north of University Ave, the property is conveniently located near major employment, retail and education hubs.
Situated only 2 miles from Stanford University, 2.5 miles from Meta headquarters and 5.5 miles to Google headquarters, the complex is in the heart of the bustling Silicon Valley corridor.
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Property Facts
| Price | $12,303,450 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $323,775 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.88 AC |
| Cap Rate | 5% | Building Size | 64,716 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 95% |
| Gross Rent Multiplier | 10.3 | No. Stories | 3 |
| No. Units | 38 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 0.65/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-HD-5 – - Multi-Family High Density Residential | ||
| Price | $12,303,450 CAD |
| Price Per Unit | $323,775 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.3 |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 64,716 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 0.65/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-HD-5 – - Multi-Family High Density Residential |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Pool
- Property Manager on Site
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 684 - 847 |
| 2+1 | 16 | - | 859 - 1,102 |
1 1
Bike Score®
Very Bikeable (76)
Property Taxes
| Parcel Number | 063-442-350 | Improvements Assessment | $7,726,631 CAD |
| Land Assessment | $8,874,765 CAD | Total Assessment | $16,601,396 CAD |
Property Taxes
Parcel Number
063-442-350
Land Assessment
$8,874,765 CAD
Improvements Assessment
$7,726,631 CAD
Total Assessment
$16,601,396 CAD
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The Ardmore | 315 E Okeefe St
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