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Irik Edens

irik@fullofhearthomes.com +1(530) 350-9522

$ 7,500,000

Est. payment -/mo

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Price Dropped by $488K

251 Middlefield RD Palo Alto, CA 94301

5,939 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 5,939 sqft

Price per Sqft $1,262

MLS Listing ID 226026984

HOA Y/N No

Year Built 1915

Lot Size 10001.000 Acres

Acres 0.2296

Property Sub-Type 5 or More Units

Source MLS Metrolist

Property 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 penthouse 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.

Location

State CA

County Santa Clara

Area Crescent Park

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.

Interior

Interior Features Vaulted Ceiling(s)

Heating Fireplace(s), See Remarks

Cooling Ceiling Fan(s), Wall Unit(s), Window Unit(s)

Flooring Tile, Vinyl, Linoleum, Wood

Appliance Gas Cook Top, Built-In Refrigerator, Dishwasher, Microwave

Laundry In Common Area, Laundry Closet, Washer/Dryer Hookups

Exterior

Parking Features Other

Utilities Available Sewer In & Connected

Water Access Desc Public

Topography Level

Building

Lot Description Auto Sprinkler F&R

Foundation Raised, Slab

Sewer Public Sewer

Water Public

Schools

Elementary Schools Palo Alto Unified

Middle Schools Palo Alto Unified

High Schools Palo Alto Unified

School District Santa Clara

Others

Senior Community No

Tax ID 003-01-076

Special Listing Condition None

Virtual Tour https://youtu.be/tgBjM-wj2JQ

Listed by Engel & Volkers Roseville

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Contact Us

+1(530) 350-9522

irik@fullofhearthomes.com