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315 E Okeefe St
Palo Alto, CA 94303
The Ardmore · Multifamily Property For Sale
·
38 Units
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.
PROPERTY FACTS
| Price Per Unit | $328,595 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.88 AC |
| Cap Rate | 5% | Building Size | 64,572 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
|
| Apartment Style | Low-Rise | ||
| Zoning | R-HD-5 – - Multi-Family High Density Residential | ||
| Price Per Unit | $328,595 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 | 64,572 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
- Heating
- Kitchen
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Pool
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 22 | - | 684 - 847 |
| 2+1 | 16 | - | 859 - 1,102 |
PROPERTY TAXES
| Parcel Number | 063-442-350 | Improvements Assessment | $7,867,894 CAD |
| Land Assessment | $9,037,019 CAD | Total Assessment | $16,904,913 CAD |
PROPERTY TAXES
Parcel Number
063-442-350
Land Assessment
$9,037,019 CAD
Improvements Assessment
$7,867,894 CAD
Total Assessment
$16,904,913 CAD
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