One of Palo Alto’s oldest and most recognizable neighborhoods – Downtown North Palo Alto – grew out of necessity during the construction of Leland Stanford Junior University – workers needed places to live, shop and eat. Downtown North Palo Alto, located between Alma Street, Middlefield Road, University Avenue, and San Francisquito creek, is a few hundred footsteps from University Avenue which one of the most dynamic, diverse and economically powerful streets in the Silicon Valley. The Downtown North neighborhood is the essence of urban living in Palo Alto, the hub of Silicon Valley. Dozens of wonderful and tempting restaurants, cafes, shops, a theatre, and prestige stores line University Avenue (the heart of Palo Alto) – all within minutes of walking from Downtown North Palo Alto. Jump on your bicycle, or throw on your walking shoes and Downtown North is also minutes from world renowned Leland Stanford Junior University and its sprawling campus. A few minutes walking in the other direction leads to Caltrain – and all points north and south.
A Mix Of Everything Can Be Found In Downtown North
Downtown North has historically been primarily Stanford students, professors, and other professionals. Downtown North is made up of a combination of single-family residences, multi-family residences, condominiums, multi-family townhouses, apartments, and bungalows all surrounding Johnson Park (Johnson Park sits where old homes previously existed). Because it was constructed without a real plan Downtown North is a combination of residential, commercial, condo complexes, shops, restaurants, and offices. However, since the early 1980s a transformation has been taking place – an influx of new families and young professionals purchasing the existing housing stock – which mirrors the economic and cultural gentrification taking place in Palo Alto as Silicon Valley continues to prosper. The entire neighborhood is improving both in appearance and value.
Parking/Traffic Have Been Improved in Downtown North Palo Alto
Because of its location Downtown North has historically been subject to downtown Palo Alto traffic and parking problems and issues. Over the last decade the City of Palo Alto has implemented several parking features which have significantly improved the situation. Traffic mitigation measures including the introduction of traffic intersection circles has dramatically improved the traffic flows into and out of Downtown North and made it easier for residents and guests to navigate parking.
There are more condominiums in Downtown North than any other neighborhood in Palo Alto. Approximately 45 condos (and multi-level townhouses) were sold in 2013 in Downtown North with an average sales price above $1.2 million dollars. Single-family residences located in this neighborhood are typically pretty small by today’s standards – 1,700 square feet on average. Many of these smaller type bungalows are located on smaller lots which average slightly below 5,500 square feet. On any typical workday if one ventures along the streets of Downtown North they will find many contractors and tradespeople performing work and remodeling on many of these older homes.
World Class Stanford University Draws People From Around The World to Downtown North
Stanford University will always be a powerful magnet for Palo Alto and the Silicon Valley region. The likelihood is that Stanford will continue to grow and prosper for many decades into the future. As Stanford maintains its world class status all neighborhoods and areas in Palo Alto including Downtown North will continue to grow, improve, progress, and increase in value. Because of all of these above factors an investment in Downtown North now will be a homerun long-term real estate investment.
Professional Property Management for Your Downtown North Property
Silicon Valley Property Management Group is a Palo Alto property management company and is always available to answer any questions, inquiries, and brainstorm real estate strategies, and investment property solutions in Palo Alto or any surrounding Bay Area community. Downtown North is a prime long-term real estate investment – ask us how to make an investment in this community for your family’s future.
If you are in need of a property manager for your Palo Alto income property, or if you’re considering purchasing income property in Palo Alto, please consider Silicon Valley Property Management Group. Please read about the unique advantage we bring our Palo Alto property management clients. With a real estate agent, a real estate attorney and a real estate developer on staff, we are also uniquely qualified to assist with your real estate search and purchase needs anywhere in the Silicon Valley (see our staff page for our qualifications).