Buying a Palo Alto Condo

by vbrasil on May 1, 2009


View Map
Status: SOLD
ML Number: 80907345
Parcel Number: 127-41-009
ZIP: 94303
Area: 233 South Palo Alto
City: Palo Alto
City Limits: True
Barclay Map: pg. 12 (12
Thomas Br Map: pg. 791 (D5)
Cross Street: Oregon Expressway
Unincorporated: False
Beds: 2
Baths: 1
Stories: 1
Class: Condos
Type: Condominium
List Price: $418,000
Original Price: $418,000
List Date: 2/9/2009
DOM: 48
CDOM: 48
Lot Size (Acres): 0.045
Lot Size: 1950.00 SF
SqFt (source): 906 (Assessor)
Age: 37
Year Built: 1972
Zoning: PC
School District: Palo Alto Unified
Palo Alto Oregon Greens Complex. This is a unique opportunity in Palo Alto, a sub $400K property with Palo Alto Schools. This Palo Alto Condo complex is FHA approved, which is also rare in Palo Alto since most complexes traditionally are not within FHA loan limits. I was fortunate to get this property for my client. We were originally looking at townhomes in Milpitas for around $450K, when this came on the market.It was a top level 2 bedroom 1 bath condo. Definitely not a townhome situation but the location was key.

My clients work in Palo Alto and Sunnyvale respectively. A compareable condo in Sunnyvale would probably be in the $300K range and only available in North Sunnyvale with North Sunnyvale schools. This condo is located in South Palo Alto, has some road noise from 101, but has a great location on the Penninsula making it convenient for work and a starter home for a young family.The home was originally listed at $417,000 and was on the market for almost a month. My clients first submited an offer for $375K after three weeks, and the owners flat out rejected the offer. We waited another two weeks and submitted an offer at $385K and they accepted our offer. These condos were selling in the mid $400Ks in 2008.

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