505 Runnymede Street C, East Palo Alto, California 94303, East Palo Alto, - bed, bath
ACTIVE$3,900,000
505 Runnymede Street C, East Palo Alto, California 94303
5Beds
7Baths
2,880Sqft
22,341Lot
Year Built
1926
Close
-
List price
$3.9M
Original List price
$3.9M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82017240
Home ConditionPoor
Features
Pool
View-
About this home
This is a "Single Family Residence" with a pool and a 600 sq. ft. pool house. it includes a permitted 960 sq.ft.2nd (auxiliary) unit. there are also 3 studio units attached to the main house with separate entrances and baths. The lot is subdividable and the sewer line has been re-routed to facilitate subdivision. A smart buyer might occupy the rear half of lot while developing the front portion. The swimming pool is operational but was filled with gravel for safety purposes, due to the presence of small children. It can be recommissioned 100% at buyer request. Income potential of over $11,000/mo. if you include rental of main unit. This property is close to everything on the peninsula and is ripe for development in the new EAST PALO ALTO! All boats and debris to be removed.
Nearby schools
3/10
Costano Elementary School
Public,•K-8•0.7mi
7/10
Menlo-Atherton High School
Public,•9-12•1.8mi
Price History
Date
Event
Price
08/07/25
Listing
$3,900,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (52 Listings) | |
|---|---|---|---|
| Beds | 5 | 4 | 81% |
| Baths | 7 | 2 | 98% |
| Square foot | 2,880 | 1,625 | 89% |
| Lot Size | 22,341 | 7,150 | 98% |
| Price | $3.9M | $3.18M | 79% |
| Price per square foot | $1,354 | $1,705 | 43% |
| Built year | 1926 | 1952 | 4% |
| HOA | |||
| Days on market | 90 | 142 | 32% |
Condition Rating
Poor
Built in 1926, this property is nearly a century old with no indication of recent major renovations. The description emphasizes 'development' and 'subdivision' potential, suggesting the existing structures are not the primary value. The pool is non-functional (filled with gravel), and the mention of 'boats and debris to be removed' points to significant deferred maintenance and a neglected state. The exterior image shows an aged building and a cracked, poorly maintained asphalt parking lot. Without interior photos, especially of the kitchen and bathrooms, it's highly probable these areas are severely outdated and require substantial rehabilitation, consistent with a property of this age and condition. While it may generate rental income, it likely requires extensive repairs to meet modern living standards.
Pros & Cons
Pros
Exceptional Development Potential: The property offers significant development potential, explicitly stating the lot is subdividable with re-routed sewer lines, allowing for future expansion or additional construction.
Substantial Income Generation: With an estimated income potential of over $11,000/month from multiple units, this property presents a strong revenue stream for investors or owner-occupants.
Diverse Multi-Unit Configuration: Beyond the main residence, the property includes a 600 sq. ft. pool house, a permitted 960 sq. ft. auxiliary unit, and three attached studio units with separate entrances, providing versatile rental options.
Expansive & Strategic Lot Size: The generous 22,341 sq. ft. lot supports the stated subdivision potential and is strategically located 'close to everything on the peninsula,' enhancing its long-term value.
Future Growth Area: Positioned in 'the new EAST PALO ALTO,' the property is in an area ripe for development and growth, suggesting strong appreciation potential.
Cons
Immediate Pool Restoration Required: The swimming pool, while operational, has been filled with gravel for safety and requires immediate effort and cost to be recommissioned by the buyer.
Property Cleanup & Condition: The listing explicitly states 'All boats and debris to be removed,' indicating the property is not in a turn-key condition and requires significant cleanup upon acquisition.
Age of Main Structure: Built in 1926, the main residence may require significant updates, renovations, or system replacements to meet modern standards or buyer preferences, despite its income-generating units.