Wealthy individuals, famous high-tech entrepreneurs, worldly investors and knowledgeable property collectors all know that Old Palo Alto is one of the most desirable neighborhoods in all of the United States, not just California and not just the SF Bay Area.
Mature, blossoming magnolia trees provide a hovering canopy throughout the perimeter of Embarcadero Road, Oregon Expressway, Alma Street and Middlefield Roads – which is commonly known as Old Palo Alto. Old Palo Alto is by far the wealthiest and most expensive neighborhood in Palo Alto – Crescent Park a close second. No two homes are alike amongst the rich collection of Tudors, Moorish and Spanish Colonials, English traditional, Eichlers, Craftsman, and the recent Post-Modern designs which provides a unique experience for the first time visitor as they travel the streets and marvel at the large lots and expansive beautiful homes. The first time one visits Old Palo Alto you recognize that it is a different neighborhood than most.
Old Palo Alto Is Distinctly Associated with Entrepreneurism and Silicon Valley
The area began developing around the end of the 1890s just as Leland Stanford Sr. was constructing Stanford University and surrounding areas of Palo Alto. One of the first homes in Old Palo Alto is called the Gamble House which was built for Edwin Gamble who was the son of co-founder of Proctor and Gamble Co. In 1970, Gamble House was gifted to the City of Palo Alto and became a museum for the horticultural foundation complete with an historic home, carriage house, tea house, and formal garden (open to the public). There is also Bowling Green Park which is adjacent to Gamble House and is a popular gathering spot for Old Palo Alto neighbors. Bowling Green Park is 2-acre park which features a lawn bowling green and a club house for members. An ivy-covered fence encloses an open grassy area for recreation and bowling. Sitting on the site of the old Peninsula Hospital (built in 1910 and razed in 1931) the Lawn Bowling Green was built in 1933-34 by the Civil Works Administration.
Old Palo Alto was home to late Apple Computer co-founder Steve Jobs. Currently Google’s Sergey Brin and Yahoo’s Marrisa Mayer are among many high-tech executives who call Old Palo Alto Home. The amazingly beautiful, elegant, and special neighborhood attracts the most discerning buyers and investors.
Old Palo Alto residents love their neighborhood. Each and every home is cared for proudly, elegantly and professionally by the owners. The new homes being built are from the Bay Area’s finest architects and contractors. There is usually no expense spared when designing and building a new residence in Old Palo Alto. From the moment one visits Old Palo Alto for the first time you realize that there is something completely unique and desirable about each and every street, home, and tree. Additionally, another unique feature is that from Old Palo Alto residents can bike, jog, or walk, to California Avenue, Downtown Palo Alto, El Camino Real, and importantly Stanford University – a convenience which adds tremendous value to the neighborhood.
Old Palo Alto lots sizes are generally bigger than other neighborhoods in Palo Alto – with an average size of just over 9,000 sq. ft. In fact it is not uncommon to see one acre lots in Old Palo Alto. Old Palo Alto single-family homes which sold in 2013 had an average price above $3,300,000 – with an average price per square foot in excess of $1,300.
Palo Alto residents including those Old Palo Alto school-aged kids are able to attend top-notched Palo Alto Unified School District. The schools are so good families attempt to move to these schools from all over the Bay Area and even from outside the state.
Purchasing An Old Palo Alto Property Is A Phenomenal Long-Term Investment
Owner-occupied properties are the rule within Old Palo Alto. However the geographical advantage (Silicon Valley and Stanford University) makes it an ideal location for real estate investors who crave long-term holding strategies of incredibly desirable properties. With the help of a professional property manager an investor/owner can expect superior long-term growth in value and obtain an above average return-on-investment while having a property in one of the most desirable neighborhoods in the world.
Stanford University remains an incredible magnate for Palo Alto. There is a very strong likelihood that Stanford will survive and thrive for many decades to come and as long as it is a world class university neighborhoods in Palo Alto including Old Palo Alto will continue to grow, prosper, and become more valuable over time. Consider investing in Old Palo Alto now – it is a long-term home-run investment.
Palo Alto investment or property management questions?
Contact Silicon Valley Property Management Group to discuss any questions or investment property strategies in Palo Alto. If you already own investment property and are looking for a Palo Alto property management company, we’d love to help. Please look around our site to see how we are uniquely qualified to manage your property, then give us a call today.
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).