156 Monroe Drive, Palo Alto… A Treasure in a Great South Palo Alto Neighborhood
On February 27th I listed a lovely 2 bedroom 1 bathroom home in South Palo Alto that has been in the same family for over 55 years. The current owners loved the home and the neighborhood that they grew up in. They fondly remember running through the orchards and playing Kick the Can in the street with the other neighborhood kids. The large Redwood trees that line Monroe Park were just seedlings.
Over time, the neighborhood has changed but a lot has remained the same. Some of the small cottages and bungalows have been expanded yet the neighborhood remains largely undiscovered. However, three blocks away, the El Camino Real /San Antonio Road Corridor has been modernized and transformed.
Just a few blocks away from 156 Monroe Drive is the completely rejuvenated Village at San Antonio Shopping Center where a large Safeway, numerous restaurants and stores, and a soon to open movie complex exist (or are under construction). There are two local neighborhood parks, Monroe and Del Medio, that provide a lovely place to gather and play. Major thoroughfares are nearby but the immediate neighborhood remains intimate and lacking traffic. A dedicated bike path winds through the neighborhood and provides a bike friendly route north to downtown Palo Alto, west to Los Altos and South to Mountain View.
156 Monroe Drive is situated on an oversized lot that allows it’s new owner the opportunity to substantially expand the home or build new. Per the city’s Parcel Report, the lot is slightly over 9,700 square feet making a home of slightly over 3,600 square feet possible. Note: any potential buyer should consult with the city to verify what could be built on this parcel. A property located two parcels west of the subject property is currently being developed into a new two story home of over 3,400 sf. The builder indicated that upon completion, the investor was looking to list it around $4.2 million. School age children would attend excellent Los Altos Schools.
The asking price for this property is $1,998,000.
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We will be hosting the Broker tour on Friday (3/17) from 9:30 a.m. – 12:30 p.m.
This weekend (3/18-3/19), we will be hosting public open houses from 1:00 p.m. – 4:00 p.m.
Please stop by and see this small treasure with enormous upside.
Below is episode 1 of a series I’m calling 24 Days. I give myself 24 days to sell a home from signing the listing contract to negotiating an acceptable purchase contract for my seller. I hope you enjoy episode 1.
