MLS® ID: ML81774838

271 Addison AVE

PALO ALTO, California, 94301

$1,700,000 Active
  • 2 Beds
  • 2 Baths
  • 1239 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 $1463/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.
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Listing courtesy of Golden Gate Sotheby's International Realty

Amenities

  • Full baths
    2
  • Half baths
    0
  • Full Baths Range
    2 Baths
  • Total Baths
    2
  • Zip
    94301
  • Office name
    Golden Gate Sotheby's International Realty
  • SQFT
    1239
  • Bedrooms
    2
  • Property type
    Single Family Home
  • Zoning type
    R2
  • Year built
    1896
  • Lot size
    0.1470
  • Sewer
    Sewer Connected
  • Heating
    Forced Air
  • Agent name
    Chris Iverson
  • Purchase Type
    Active
  • Price Range
    $1.5m-$1.75m
  • Square Feet Range
    1000-1500 sq ft.
  • Bedrooms Range
    2 Beds
  • Year Built Range
    1989 (and earlier)
  • Office ID
    GGSIR
  • Agent ID
    191008991

Location

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