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$1,700,000
2 Beds
2 Baths
1,239 SqFt
0.15 Acre Lot
6,405 Sqft Lot
Open House November 17
2:00pm to 4:00pm
Status Active
Property Type Single Family Home
Price Type
Year Built 1896
Neighborhood
Days on Website 7

Property Map

$1,700,000 – 271 Addison Ave, Palo Alto, CA 94301

Street View

Courtesy of Golden Gate Sotheby’s International Realty, Chris Iverson.

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. In 1963 Palo Alto Clinic (now PAMF) purchased this home from the owners as 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, 43 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.

Property Details and Features

Listing

  • Source: MLSListings
  • Listed on 2019-11-06 21:55:45

Bedrooms

  • 2 bedrooms

Bathrooms

  • 2 full bathrooms

Location

  • County: Santa Clara

House

  • Built in 1896
  • 1,239 square feet
  • 1,239 living square feet
  • Building type: Detached

Dining Room

  • Formal Dining Room

Family Room

  • No Family Room

Foundation

  • Concrete Perimeter

Roof

  • Composition

Cooling

  • None

Laundry

  • In Utility Room

Garage

  • On Street
  • Parking Area

Water

  • Public

Heating

  • Forced Air

Utilities

  • Public Utilities

Sewer

  • Sewer Connected

Property

  • Zoning: R2
  • Horse property?: No

Schools

  • Elementary school district: Palo Alto Unified
  • High school district: Palo Alto Unified

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Listings last updated on November 14, 2019 21:03.