311-317 Ramona ST, Palo Alto, CA 94301
- $2,998,000
- 8
- BD
- 3,169
- SqFt
- List Price
- $2,998,000
- MLS#
- ML82062184
- Status
- ACTIVE
- Zoning
- RM4
- Sqft. of Residence
- 3,169
- Lot Size
- 5,100
- Listing Area
- Downtown Palo Alto
Property Description
Located just a few blocks from University Avenue's dining, shops, and retail, this well-maintained 4-unit multi-family offers investors a rare combination of in-place stability and proven upside in one of the Bay Area's most resilient rental submarkets. The desirable unit mix consists of one 3-bedroom/2-bath unit, two 2-bedroom/1-bath units, and one 1-bedroom/1-bath unit, totaling 3,169 SF across the building, on a 5,100 SF lot. Each unit benefits from a private yard space or a balcony. 4 garage bays. Built in 1963, the property has recently completed all required SB-721 balcony work as of July 2026, with full clearance and permitting in place. Two units offer in-unit laundry, with the remaining two served by an on-site shared laundry room. The property offers meaningful upside across all four units, with rents currently below market. 94301 has posted consistent year-over-year rent growth, outperforming the broader metro and reflecting strong submarket fundamentals stable cash flow today, plus a clear path to further rent growth. This property can be purchased individually or as a combined 12-unit portfolio with the adjacent 5-unit property at 252-262 Everett Avenue and triplex at 270 Everett. Incredible opportunity!
Additional Information
- Cooling System
- None
- Floor Covering
- Hardwood, Laminate
- Foundation
- Concrete Perimeter
- Garage Parking
- Attached Garage, Off-Street Parking
- Heating System
- Central Forced Air, Wall Furnace
- Laundry Facilities
- Coin Operated, Washer/Dryer - Some Units
- Living Area
- 3,169
- Lot Size
- 5,100
- Neighborhood
- Downtown Palo Alto
- Other Rooms
- Laundry Room
- Other Utilities
- Public Utilities
- Roof
- Composition
- Sewer
- Sewer - Public
- Zoning
- RM4
Listing courtesy of Kelly Griggs, 650-464-1965 from Coldwell Banker Realty
(If provided) CoList: Billy McNair from Coldwell Banker Realty
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