271 Addison AVE, Palo Alto, CA 94301

Property Information
  • MLS: ML81774838
  • Type: Single Family Home
  • Bedrooms: 2
  • Bathrooms: 2 Full
  • Interior: 1,239
  • Lot Size: 6,405
  • Open: Sun 2:00 PM - 4:00 PM
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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.
  • MLS: ML81774838
  • Type: Single Family Home
  • Listed: 11/6/2019
  • Schools: GS Dist: Palo Alto Unified District
    HS Dist: Palo Alto Unified District
  • Year Built: 1896
  • Garage Parking Features
    • On Street
    • Parking Area
  • General Features
    • Cooling: None
    • Dining Room: Formal Dining Room
    • Family Room: No Family Room
    • Heating: Forced Air
    • Horse Property: No
    • Laundry: In Utility Room
    • Listing Class: Residential
    • Listing Service: Full Service
    • Roof: Composition
    • Sewer Septic: Sewer Connected
    • Subclass: Single Family Home
    • Water: Public

Courtesy of Chris Iverson, Golden Gate Sotheby's International Realty

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