530 Webster Street
Multifamily | 16 Units | $656,250/unit
Marketing description
BROKER TOUR ON THURSDAY, JULY 16 FROM 11:00AM - 1:00PM
A rare 16-unit trophy asset in the heart of Downtown Palo Alto. This stunning 1920s-era Spanish Colonial Revival building sits on a generous 15,000 SF lot with 11,035 SF of building area, half a block from University Avenue's renowned dining, shopping, and retail - an A+ location that speaks for itself. The unit mix features 9 1-bed/1-bath units and 7 oversized studios, almost all with updated kitchens and baths, and in-unit laundry in all large 1-bedroom units. The property is a showpiece: tile roofline, stucco exterior, arched windows/doorways, wrought-iron, and a lushly landscaped courtyard centered on a classic tiered fountain - the kind of building people stop to photograph. Ownership invested ~$1.3M in capital improvements in 2019, including new 400 AMP electrical panel, updated interior sub-panels, copper plumbing, Romex wiring, and exterior stucco refresh. 8 onsite garages, add'l storage, and dedicated laundry room. Recently signed June 2026 leases confirm market rents are achievable. Rarely does a property like this come to market - an architectural beauty in an irreplaceable location, offering stable in-place cash flow, proven rent upside, and the kind of curb appeal that simply can't be built today. A true once-in-a-generation opportunity for the discerning investor!
Investment highlights
- 16 units in the heart of downtown Palo Alto, 11,035 total sf on a large 15,000 sf lot in an A+ location
- Incredible location — half a block to University Avenue dining, shops, and retail
- Nine 1-bed/1-bath units (8 larger, 1 smaller) + Seven over-sized Studios
- Gorgeous architecture with a beautiful courtyard and fountain centerpiece — a building people stop to photograph
- In-unit laundry in all 1-bed units; updated kitchens and baths in almost all units
- 8 garages onsite, plus additional storage and a laundry room
- 400 AMP panel with new interior subpanels, copper plumbing, Romex wiring
- Great upside on rents, with proven June 2026 signed leases at market rents on both 1-bed and Studio units
- 94301 has posted consistent year-over-year rent growth, outperforming the broader metro and proving strong submarket fundamentals
- Deep renter pool from nearby major employers and transit, with most residents in recession-resistant industries like healthcare and education
- Stable existing cash flow + proven value-add upside, a compelling risk-adjusted return
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