340 Palo Alto Avenue

340 Palo Alto Avenue consists of a charming single-story 2 bed 1 bath home on a +/- 0.2 acre lot with rare development potential in prime North Downtown Palo Alto. Ownership has filed an SB79 application to develop a 3-story, 6-luxry condo project. The +/- 1,500-1,550 sq. ft. 3 bedroom 3.5 bath premium condos will feature large terraces overlooking the tree-lined San Francisquito Creek. The property will feature a lobby entry with an elevator, two stairwells, privatized storage for each unit, at-grade parking, an interior trash/recycling room, all-electric service, and an attractive exterior façade consisting of painted brick and wood elements, a nod to its contemporary and greenbelt surroundings. Additionally, an option may exist to add a 7th penthouse suite unit which would be a larger +/- 1,800 sq. ft. residence on its own floor, with spectacular views. The property feeds to the #1 ranked school district in California; Addition Elementary, Greene Middle and Palo Alto High schools. The amenity-rich location is convenient to retail and restaurant options of University Avenue and Stanford Shopping Center, Caltrain Station, major transportation arteries, and world-class Silicon Valley employers.

Days on Market

5 days

Current Status

Active

Original Price

$6,300,000

List Price

$6,300,000

On Market Date

Jul 21, 2026

Property Type

Single Family Home

Area

242 - Downtown Palo Alto

Zip Code

94301

MLS ID

ML82055000

APN

120-12-045

Year Built

1910

Stories in Building

Unavailable

Possession

Unavailable

Data Source

MLSL

Origin MLS System

MLSListings, Inc.

Bed

2

Bath

1

Parking

1

Off-Street Parking, Parking Area

SQ FT

1,120

SQ FT Source

Unavailable

Lot SQ FT

7,200.0

Lot Acres

0.165289 Acres

Cooling

None

Dining Room

Dining Area

Disclosures

Natural Hazard Disclosure

Family Room

Kitchen / Family Room Combo

Foundation

Concrete Perimeter

Heating

Forced Air

Fee

Unavailable

MLS and other Information regarding properties for sale as shown in Theo have been obtained from various sources such as sellers, public records, agents and other third parties. This information may relate to the condition of the property, permitted or unpermitted uses, zoning, square footage, lot size/acreage or other matters affecting value or desirability. Unless otherwise indicated in writing, neither brokers, agents nor Theo have verified, or will verify, such information. If any such information is important to buyer in determining whether to buy, the price to pay or intended use of the property, buyer is urged to conduct their own investigation with qualified professionals, satisfy themselves with respect to that information, and to rely solely on the results of that investigation.

School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.