10351037 Amarillo Avenue, Palo Alto, California 94303, Palo Alto, - bed, bath

home-pic
ACTIVE$3,650,000
10351037 Amarillo Avenue, Palo Alto, California 94303
3Beds
2Baths
1,540Sqft
10,113Lot
Year Built
1947
Close
-
List price
$3.65M
Original List price
$3M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82014527
Home ConditionFair
Features
Patio
View-

About this home

Unique opportunity to purchase a deep 10,000+ SqFt lot in Palo Alto. Residential single family / detached. Nestled along a peaceful street! Build your dream luxury home and ADU. Transform the expansive back yard into your very own oasis. No significant or heritage trees. Walking distance to Greer Park, minutes from Midtown & Town and Country Shopping Center. Two blocks from sought-after elementary choice programs including Mandarin immersion at Ohlone school (check with Palo Alto district for admission requirements.) Currently includes 2 charming, well-maintained, cottages with spacious individual private yards: one 2-bedroom/1-bath and one 1-bedroom/1- bath. Including 1037 & 1035 and both homes feature hardwood floors, tiled kitchens and bathrooms, inside laundry rooms, updated galley kitchens with quartz counter tops, gas range and dishwasher. Desirable location for renters to generate income as investment or during development planning phase. Convenient to Caltrain, Stanford, 101, commute routes & leading tech campuses such as Apple, Google and Meta. Award-winning Palo Alto schools. Buyers should research ADU and Common Interest regulations to maximize profit. Don't miss this exceptional property in a desirable location, with potential galore!

Price History

Date
Event
Price
08/14/25
Price Change
$3,650,000+21.7%
07/14/25
Listing
$2,999,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (54 Listings)
Beds33
50%
Baths22
50%
Square foot1,5401,580
45%
Lot Size10,1137,150
91%
Price$3.65M$3.18M
71%
Price per square foot$2,370$1,712
87%
Built year19471952
22%
HOA
Days on market114138
42%
Condition Rating
Fair

Built in 1947, this property consists of two well-maintained cottages. While the description notes 'updated galley kitchens with quartz countertops,' the images reveal white, basic appliances that detract from a modern aesthetic. The bathrooms, though clean and tiled, feature dated styles (e.g., small white square tiles, pedestal sink) that suggest renovations are older than 15 years or were done to a very basic standard. The hardwood floors are a positive, but overall, the homes are aged and functional, showing signs of regular upkeep and occasional updates rather than extensive recent renovations. The property is livable and suitable for income generation, but requires minor cosmetic updates to meet current style preferences, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Exceptional Lot Size & Development Potential: A deep 10,000+ SqFt lot in Palo Alto offers ample space to build a luxury dream home and an Accessory Dwelling Unit (ADU), unhindered by significant or heritage trees.
Prime Palo Alto Location & Amenities: Nestled on a peaceful street, the property is walking distance to Greer Park, minutes from Midtown & Town and Country Shopping Center, and within the highly sought-after Palo Alto school district, including Ohlone Mandarin immersion.
Strategic Commute & Tech Hub Proximity: Conveniently located near Caltrain, Stanford University, Highway 101, and leading tech campuses such as Apple, Google, and Meta, making it ideal for professionals.
Immediate Income Generation Potential: Includes two charming, well-maintained cottages (2-bed/1-bath and 1-bed/1-bath) with updated interiors, providing immediate rental income during development planning or as a long-term investment.
Significant Investment Upside: This unique property offers substantial potential for profit maximization through new construction and ADU development in a high-demand Palo Alto market.

Cons

Substantial Development Investment Required: The property's primary value lies in its land and development potential, necessitating significant additional investment for construction of a new luxury home and ADU, beyond the purchase price.
Age of Existing Structures: Built in 1947, the existing cottages, despite updates, are older structures that a buyer aiming for a luxury new build would likely demolish, incurring additional costs and project timelines.
Recent Price Appreciation: The list price has seen a substantial increase from its original offering ($2.999M to $3.65M), which may limit immediate appreciation potential for new buyers entering at the higher price point.

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