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Middlefield Road

Palo Alto, CA 94301

$7,500,000 $31,620/Mo

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Description

Rare trophy multifamily investment opportunity in the heart of Palo Alto, just blocks from Stanford University and vibrant downtown. Located at 251 Middlefield Rd, this iconic property was originally built in 1915 and completely reimagined in 2019, seamlessly blending historic architecture with modern luxury and high-end construction. The building features seven beautifully renovated residential units, each finished with premium materials and thoughtful design. Interiors include stainless steel appliances, granite countertops, hardwood and tile flooring, skylights, vaulted ceilings, double-pane windows, and designer finishes throughout. Units are equipped with energy-efficient mini-split systems, with select residences offering central heating for year-round comfort. The impressive p enthouse residence exceeds 2,000 sq ft, offering three bedrooms, a spacious office, and two bathrooms, while the main ground-floor unit spans over 1,400 sq ft and features two luxurious master suites. Exceptional curb appeal with professional landscaping enhances the property's timeless appeal. The property also includes an approximately 2,868 sq ft finished basement (not included in the official living square footage) with private access, kitchenette, and bathroom, providing excellent value-add potential for additional income or flexible use. Additional amenities include a centralized laundry facility and automated drip irrigation for the landscaped grounds. Most units are currently utilized as corporate housing, driven by strong employment demand from nearby global technology employers including Google, Apple, Meta, and Hewlett-Packard. Fully occupied and ideally positioned, this property offers stable income, strong rental demand, and long-term appreciation potential in one of Silicon Valley's most desirable and supply-constrained markets. A rare opportunity to acquire a fully renovated legacy asset near world-class universities, technology campuses, renowned restaurants, cafes, parks, and premier amenities.

Property Details

Property Type : Residential Income

Price : $7,500,000

AD Id : 75941441

MLS Id : 226026984

Living Area Size : 5,939

Year Built : 1915

County : Santa Clara

Map

Features

Water/Sewer

Sewer: Public Sewer
Flooring Information

Tile, Vinyl, Linoleum, Wood
Interior Features

Vaulted Ceiling(s) Appliances: Gas Cook Top, Built-In Refrigerator, Dishwasher, Microwave Laundry Features: In Common Area, Laundry Closet, Washer/Dryer Hookups
Heating & Cooling

Heating: Fireplace(s), See Remarks Cooling: Ceiling Fan(s), Wall Unit(s), Window Unit(s) WaterSource: Public

Building Information

Year Built: 1915 Stories: 2 Construction Materials: Stucco, Frame Foundation Details: Raised, Slab
Exterior Features

Foundation Details: Raised, Slab
Laundry Features

In Common Area, Laundry Closet, Washer/Dryer Hookups

Lot Information

Lot Description: Auto Sprinkler F&R Lot Square Feet: 10,001 Main Square Feet: 5,939 Topography: Level

Property Information

Property Type: Residential Income Sub Type: 5 or More Units SQ ft (Living Area): 5,939 Construction Materials: Stucco,Frame Property Age: 111 Cross Street: Everett Ave Source Neighborhood: Crescent Park Postal Code Plus 4: 1343 Area: Palo Alto S: 94301 Zoning: R1 Living Area Source: Owner Structure Type: Apartments

Farm Info

Irrigation Source: Public District

Listing Price Information

Listing Id: 226026984 List Price: $7,500,000 List Price Tot SqFt: $1,263

Tax Information

Parcel Number: 003-01-076

Parking Information

Other

Elementary School District: Palo Alto Unified

Junior High School District: Palo Alto Unified

Senior High School District: Palo Alto Unified
Utility Information

Sewer In & Connected
Location Information

Direction: From US-101, take University Ave west toward Palo Alto/Stanford. Continue approximately 1 mile, then left on Middlefield Rd. Property will be on the right at 251 Middlefield Rd.

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
Middlefield Road, Palo Alto, CA, 94301	$7,500,000	11	10	5,939	5,939 SqFt
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