1061 Alma St, Palo Alto, CA, 94301
About This Home
Located 5 minutes from downtown Palo Alto, 1061 Alma Street presents a rare and exceptionally well-situated investment opportunity. This prime fourplex offers stable cash flow with significant long-term appreciation potential in one of the world's most desirable real estate markets. The property features a highly functional layout with strong tenant appeal, making it an ideal addition to any investment portfolio or a perfect candidate for a 1031 exchange. Its distinct curb appeal, complete with a classic white picket fence and low-maintenance landscaping, stands out in a high-demand rental corridor Positioned just blocks from University Avenue, residents enjoy immediate access to world class dining, premier retail, and public transit. Proximity to Stanford University, major Silicon Valley tech campuses, and top-tier local schools ensures a consistent, high-quality tenant pool for years to come
Getting Around
Walker's Paradise
Good Transit
Biker's ParadiseSchools
Construction
Condition
- Year built: 1965
Materials
- Foundation: Slab
- Roof: Shingle
Type & Style
- Home type: MultiFamily
- Property subType: Quadruplex,Residential Income
Interior
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating & Cooling
- Heating features: Central Forced Air
- Cooling features: None
Interior Area
- Total structure area: 2,577
- Total interior livable area: 2,577 sqft
Property
Accessibility
- Accessibility features: Parking
Details
- Parcel number: 12030045
- Zoning: R1
- Special condition: Standard
Features
- Stories: 1
Lot
- Lot size: 10,500 sqft
Parking
- Total spaces: 4
- Parking features: Assigned,Covered
- Covered spaces: 4
- Carport: Yes
- Carport spaces: 4
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Santa Clara County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $17,697 | $212,364 |
| Home Insurance * | $253 | $3,036 |
| Property Taxes | $3,775 | $45,300 |
| Electricity | $552 | $6,631 |
| Total | $22,277 | $267,324 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-08 | Listed for sale | $3,500,000 |
| 2022-10-04 | Listing removed | -- |
| 2022-09-29 | Price change | $3,150 |
| 2022-09-12 | Listed for rent | $3,575 |
| 2022-08-23 | Listing removed | -- |
| 2022-07-15 | Listed for rent | $3,800 |
| 2022-06-27 | Listing removed | -- |
| 2022-04-19 | Price change | $5,500,000 |
| 2022-01-10 | Price change | $5,950,000 |
| 2021-11-09 | Listed for sale | $6,250,000 |
| 2021-02-24 | Listing removed | -- |
| 2020-11-23 | Listed for rent | $3,200 |
| 1998-10-14 | Sold | $745,000 |
View on Zillow