405 Kipling St
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405 Kipling St
6 Unit Apartment Building $6,399,000 CAD ($1,066,500 CAD/Unit) 2.10% Cap Rate Palo Alto, CA 94301
Investment Highlights
- Investors have the opportunity to acquire a well-situated asset located in prime Downtown Palo Alto.
- Th subject property is walking distance to the campus of the Stanford University creating extremely strong rental demand from both students & faculty.
- 405 Kipling St benefits from its close proximity to Downtown Palo Alto and world class Stanford University.
- The subject property is located in a continuously ranked number one public school district throughout California.
Executive Summary
405 Kipling St is an exceptional 6-unit investment opportunity located in the thriving city of Palo Alto, California.
Situated on a 5,936 square foot parcel of land, the subject property was originally constructed in 1900 and has a gross building area of approximately 2,196 square feet, offering its tenants beautifully designed one-bedroom and studio floor plans. 405 Kipling St is well-positioned in one of the Bay Area’s most dynamic and desirable cities. With historic neighborhoods, diverse cultural attractions, and vibrant entertainment, shopping, and nightlife district, Palo Alto is an exciting destination for business or pleasure. Palo Alto was also recently ranked #6 on the livability list of “Top 100 Best Places to Live” in America.
The subject property offers renters close proximity to many of the nation's top tech employers including Google, Apple, Facebook, Amazon, Varian Medical Systems, SAP, Oracle, Cloudera, Visa, Sony as well as many others. Downtown Palo Alto is also located within walking distance to the subject property and is home to many high-end retail stores and restaurants such as West Elm, NOBU, Restoration Hardware, and several others.
The investment appeal of this asset is driven by Palo Alto’s incredibly strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 405 Kipling St is an attractive choice for Peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Situated on a 5,936 square foot parcel of land, the subject property was originally constructed in 1900 and has a gross building area of approximately 2,196 square feet, offering its tenants beautifully designed one-bedroom and studio floor plans. 405 Kipling St is well-positioned in one of the Bay Area’s most dynamic and desirable cities. With historic neighborhoods, diverse cultural attractions, and vibrant entertainment, shopping, and nightlife district, Palo Alto is an exciting destination for business or pleasure. Palo Alto was also recently ranked #6 on the livability list of “Top 100 Best Places to Live” in America.
The subject property offers renters close proximity to many of the nation's top tech employers including Google, Apple, Facebook, Amazon, Varian Medical Systems, SAP, Oracle, Cloudera, Visa, Sony as well as many others. Downtown Palo Alto is also located within walking distance to the subject property and is home to many high-end retail stores and restaurants such as West Elm, NOBU, Restoration Hardware, and several others.
The investment appeal of this asset is driven by Palo Alto’s incredibly strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 405 Kipling St is an attractive choice for Peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,399,000 CAD | Apartment Style | Low Rise |
| Price Per Unit | $1,066,500 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 2.10% | Building Size | 2,196 SF |
| Gross Rent Multiplier | 26.42 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1900 |
| Property Type | Multifamily | Parking Ratio | 2.73/1,000 SF |
| Property Subtype | Apartment |
| Price | $6,399,000 CAD |
| Price Per Unit | $1,066,500 CAD |
| Sale Type | Investment |
| Cap Rate | 2.10% |
| Gross Rent Multiplier | 26.42 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,196 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 2.73/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Number | 120-15-010 | Total Assessment | $155,736 CAD |
| Land Assessment | $134,685 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $21,051 CAD | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
120-15-010
Land Assessment
$134,685 CAD
Improvements Assessment
$21,051 CAD
Total Assessment
$155,736 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | CDC |
| CDC |
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