246 Palo Alto Avenue, Palo Alto, CA 94301 (MLS # ML82059476)
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RARE DOWNTOWN NORTH DEVELOPMENT OPPORTUNITY | Exceptional ±7,150 SF site just 3 blocks from University Ave and Downtown Palo Alto Caltrain offers multiple paths to create significant value. City-approved architectural plans envision an approx. 4,365 SF modern 3-level luxury residence with 4BD/3.5BA + attached JADU, expansive entertaining spaces, basement great room, wine room and indoor/outdoor living. The property's exceptional proximity to Caltrain may also provide compelling potential for higher-density transit-oriented residential development under evolving state and local regulations. Rare opportunity for an end-user, builder, developer or investor near Downtown Palo Alto, Stanford and major Silicon Valley employment centers. Existing improvements convey as-is. Buyer to independently verify current zoning, density, unit count, parking, SB 79/AB 2097 applicability and all development standards with the City of Palo Alto.
| LAST UPDATED | 8/29/2026 | YEAR BUILT | 1923 |
|---|---|---|---|
| GARAGE SPACES | 1.0 | COUNTY | Santa Clara |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| Jr. High School | Frank S. Greene Middle |
|---|---|
| High School | Palo Alto High |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| APPLIANCES | Gas Range, Refrigerator, Washer/Dryer |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Other |
| LOT | 7148 sq ft |
| LOT DIMENSIONS | 7150.00 |
| PARKING | Detached |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
| ZONING | R1 |
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 9/2/26 1:27 AM PDT. 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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