$1,500,000
$1,700,000
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Address not disclosed Palo Alto, CA 94301
2 Beds
2 Baths
6,403 Sqft Lot
Key Details
Sold Price $1,500,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81774838
Sold Date 03/27/20
Bedrooms 2
Full Baths 2
HOA Y/N No
Year Built 1896
Lot Size 6,403 Sqft
Acres 0.147
Property Description
Downtown single family home for a condominium price! This historic Folk Victorian cottage was originally built in 1896, and has been updated while still retaining its Victorian charm. A newer kitchen and baths provide modern amenities, while the period architectural details and spacious back yard make this a quiet sanctuary in Professorville just a few blocks from bustling University Avenue. This is a leasehold on a 99 year, non-renewing lease. The house has sold several times since then, and the lease is still in effect, expiring in 2062, 42 years from now. The current lease payment is $1643/month and indexes every five years based on the CPI. The homeowner can expand or remodel within the guidelines of the City of Palo Alto. Currently, the property will revert to the landowners, less improvements, at the end of the lease.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning R2
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Roof Type Composition
Attached Garage No
Building
Story 2
Foundation Concrete Perimeter
Water Public
New Construction No
Schools
School District Palo Alto Unified
Others
Tax ID 12028062
Financing Cash
Special Listing Condition Standard
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Bought with Stephanie von Thaden • Golden Gate Sotheby's International Realty