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271 Addison AVE, PALO ALTO, CA 94301 (MLS # ML81774838)

Price $1,700,000
Status Active
Beds 2
Baths 2 Baths
Home size 1,239 sqft
Lot Size 6,404 sqft
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 Type(s): Single Family
Last Updated 11/8/2019 Year Built 1896
Community Downtown Palo Alto County Santa Clara


School District Palo Alto Unified

Additional Details

AIR None
AREA Downtown Palo Alto
BASEMENT Foundation: Concrete Perimeter
GARAGE On Street, Parking Area
HEAT Forced Air
LOT 6403 sq ft
SEWER Sewer: Sewer Connected
WATER Water: Public
Listing provided by Chris Iverson, Golden Gate Sotheby's International Realty

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. All real estate listings in the MLSListings MLS system are marked with the MLSListings Internet Data Exchange icon (a stylized house inside a circle), and detailed information about them includes the names of the listing brokers and listing agents.


Based on information from MLSListings MLS as of 11/17/19 4:08 AM PST. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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This IDX solution is (c) Diverse Solutions 2019.



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