Off Market Jun 2024 for $4.7M

—

Est. refi paymentEst. refi $30,956/mo

•

7,144

sq ft

487 James Rd, Palo Alto, CA 94306

About this home

Rarely available 6-unit in desirable Palo Alto! 487 James Road is an exceptionally well-maintained apartment community containing an incredible unit mix of (1) 3+3 and (5) 2+2 units. All units feature in-unit washer/dryer, dishwashers, and forced-air heat while 5 of the units have been modernized with numerous upgrades such as stone countertops and updated cabinetry in the kitchens, redone bathrooms, and LVP flooring. All tenants enjoy the peaceful and serene setting with either a private balcony or backyard. Contained within the subterranean parking area are ample storage closets and a secure bike room. The comp shingle roof was replaced in 2018 and the water heaters were replaced in 2020 & 2021. The property feeds to excellent public schools and is proximate to Stanford University and Health Care System. Tenants also benefit from numerous retail and restaurant amenities of California Avenue, El Camino Real, and Stanford Shopping Center and recreation of Roble Park among other entertainment attractions. This is truly one of a kind.

Multi-familyProperty Type

1963Year Built

0.3 acresLot Size

$665Price/Sq.Ft.

Listed by Joel Hopman •DRE #01934574 • Newmark Cornish & Carey

Contact: 415-722-2200

Bought with Eddy Tsang •DRE #00984666 • United Assoc. Investments

Redfin checked: a minute ago

•Source:MLSListings #ML81962173

Redfin Estimate

There isn’t enough information to generate an accurate estimate at this time. Learn More

Market trends in 94306, CA

Last updated August 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

104.8%

+0.5% MoM

Median sale price

$3.3M

$81K MoM

Avg. days on market

14d

0 days MoM

Recently sold homes

9 MoM

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Provided by Redfin

Sale history for 487 James Rd

Date

Event

Price

MLSListings #ML81962173

Jun 14, 2024

Sold

$4,750,000

$665/sq ft

May 14, 2024

Contingent

—

Apr 19, 2024

Listed

$4,850,000

$679/sq ft

Public Records

Dec 31, 2015

Sold

$4,350,000

$609/sq ft

MLSListings #ML81210254

Apr 2, 2012

Sold

$2,265,000

$317/sq ft

Mar 24, 2012

Pending

—

Mar 19, 2012

Listed

$2,175,000

$304/sq ft

Public Records

Apr 17, 1974

Sold

$149,500

$21/sq ft

Year

Property tax

Land + Additions

Assessment*

2025

$59,357 (−1.7%)

$4,057,560 + $884,340

$4,941,900

2024

$60,408 (+1.5%)

$3,978,000 + $867,000

$4,845,000

2023

$59,531 (+1.2%)

$4,178,106 + $870,437

$5,048,543

2022

$58,851 (+2.0%)

$4,096,183 + $853,370

$4,949,553

2021

$57,693 (+2.1%)

$4,015,866 + $836,638

$4,852,504

2020

$56,485 (+1.1%)

$3,937,124 + $820,234

$4,757,358

2019

$55,869 (+2.8%)

$3,896,754 + $811,824

$4,708,578

2018

$54,326 (+1.8%)

$3,820,348 + $795,906

$4,616,254

2017

$53,376 (+39.3%)

$3,672,000 + $765,000

$4,437,000

2016

$38,306 (+1.0%)

$3,672,000 + $765,000

$4,437,000

2015

$37,937 (+1.9%)

$2,758,705 + $424,415

$3,183,120

2014

$37,224 (+985.0%)

$2,664,040 + $409,852

$3,073,892

2012

$3,431 (+5.9%)

$2,652,000 + $408,000

$3,060,000

2011

$3,239

$58,470 + $218,691

$277,161

2010

$3,237 (+1.0%)

$57,324 + $214,403

$271,727

2009

$3,204 (+5.2%)

$56,896 + $212,801

$269,697

2008

$3,044

$55,914 + $209,125

$265,039

Tax history for 487 James Rd

Year

Property tax

Land + Additions

Assessment*

2025

$59,357 (−1.7%)

$4,057,560 + $884,340

$4,941,900

2024

$60,408 (+1.5%)

$3,978,000 + $867,000

$4,845,000

2023

$59,531 (+1.2%)

$4,178,106 + $870,437

$5,048,543

2022

$58,851 (+2.0%)

$4,096,183 + $853,370

$4,949,553

2021

$57,693 (+2.1%)

$4,015,866 + $836,638

$4,852,504

2020

$56,485 (+1.1%)

$3,937,124 + $820,234

$4,757,358

2019

$55,869 (+2.8%)

$3,896,754 + $811,824

$4,708,578

2018

$54,326 (+1.8%)

$3,820,348 + $795,906

$4,616,254

2017

$53,376 (+39.3%)

$3,672,000 + $765,000

$4,437,000

2016

$38,306 (+1.0%)

$3,672,000 + $765,000

$4,437,000

2015

$37,937 (+1.9%)

$2,758,705 + $424,415

$3,183,120

2014

$37,224 (+985.0%)

$2,664,040 + $409,852

$3,073,892

2012

$3,431 (+5.9%)

$2,652,000 + $408,000

$3,060,000

2011

$3,239

$58,470 + $218,691

$277,161

2010

$3,237 (+1.0%)

$57,324 + $214,403

$271,727

2009

$3,204 (+5.2%)

$56,896 + $212,801

$269,697

2008

$3,044

$55,914 + $209,125

$265,039

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Public record
Zoning
Permits

Beds

—

Baths

—

Stories

Lot width

—

Lot depth

—

Lot size

0.31 Acres

Year renovated

1963

Sq. Ft.

7,144

Year built

1963

Style

Multi-Family (5+ Unit)

County

Santa Clara County

APN

13246079

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Aug 21, 2026.

RM-20

Low Density Multiple-Family Residence District

The RM-20 low-density multiple-family residence district is intended to create, preserve and enhance areas for a mixture of single-family and multiple-family housing which is compatible with lower density and residential districts nearby, including single-family residence districts. The RM-20 residence district also serves as a transition to moderate density multiple-family districts or districts with nonresidential uses. Permitted densities in the RM-20 residence district range from 8 to 20 du per acre.

Permitted uses

Include but are not limited to:

Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Mobile home park

May 3, 2018 • Final

Roof: like for like re-roof, only one structure per permit (detached single-family and duplex only, non-historic property)

Tear off the old composition roof and install a new composition roof.

Roofing

Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.

Property details

Parking

Parking Information
Carport (Minimum): 11
Parking Description: Assigned Spaces, Covered Parking

Interior

Heating & Cooling Information
Cooling: Ceiling Fan
Heating: Central Forced Air

Multi-Unit Information
# of Units in Complex (Minimum): 6
Annual Rental Income: $279,420
Annual Gross Income: $271,062
Gross Rent Multiplier: 17.36
Gross Scheduled Income: $279,445
Other Income: $25
Other Expenses: $9,794
Total Expenses: $99,932
Vacancy Factor: 3

Unit Type 1 Information
# of Bedrooms: 3
# of Units (Total): 1
# of Baths (Full): 3
Approx Sq. Ft.: 1,870
Rent: $5,360

Unit Type 2 Information
# of Bedrooms: 2
# of Units (Total): 1
# of Baths (Full): 2
Approx Sq. Ft.: 1,030
Rent: $3,475

Unit Type 3 Information
# of Bedrooms: 2
# of Units (Total): 4
# of Baths (Full): 2
Approx Sq. Ft.: 975
Rent: $3,450

Exterior

Exterior Features
Roof: Composition, Shingle
Yard/Grounds: Backyard, Balcony/Patio, Sprinkler(s) (Auto)

Building Information
# of Buildings: 1
Subclass: 5+ Units
Construction Type: Wood Frame
Concrete Slab

Property Features
Living Sq. Ft.: 7,144
Security Features: Video/Audio System

Property Information
Property Primary ID: 426204
Tenant Expenses: Utilities (Electric), Utilities (Gas)

Land Information
Landscape Expense: $7,440

Lot Information
Lot Acres: 0.3
Lot Size Area Minimum Units: Sq. Ft.
Lot Size Area Maximum Units: Sq. Ft.
Lot Size Source: Assessor
Zoning: RM2

Financial

Tax/Assessment Information
Annual Tax Amount: $58,356

Utilities

Utility Information
Meters: Primary Water, Separate Electric, Separate Gas
Sewer Septic: Sewer (Public)
Utilities: Individual Electric Meters, Individual Gas Meters
Trash Expense: $3,502
Utility Expenses: $10,100

Water Information
Water: Public

Location

School Information
Elementary School: Juana Briones Elementary
Elementary School District: Palo Alto Unified
Middle School: Ellen Fletcher Middle
High School: Henry M. Gunn High
High School District: Palo Alto Unified

Public facts

Beds: —
Baths: —
Sq. Ft.: 7,144
Stories: 2.0
Lot Size: 0.31 acres
Style: Multi-Family (5+ Unit)
Year Built: 1963
Year Renovated: 1963
County: Santa Clara County
APN: 13246079

Home facts updated by county records on Aug 21, 2026

Around this home

Schools

Juana Briones Elementary School

Public K-5 • Assigned • 0.6mi

10/10

Ellen Fletcher Middle

Public 6-8 • Assigned • 0.7mi

9/10

Henry M. Gunn High School

Public 9-12 • Assigned • 0.9mi

10/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

4/10 Heat Factor

7 days above 90° expected this year, 14 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

7/10 Air Factor

13 unhealthy days expected this year, 13 days in 30 years

Provided by First Street

Historical weather

Palo Alto, CA • 94306

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 11.1 hours in June and 4.9 hours in December, placing it above the U.S. average for solar exposure.

11.1 hrs

4.9 hrs

JuneDecember

Provided by Shadowmap

Is this your home?

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Home values near 487 James Rd

Data from public records.

Address	Redfin Estimate
486 James Rd, Palo Alto, CA - Beds \| - Baths \| 3816 Sq. Ft.	—
463 James Rd, Palo Alto, CA 2 Beds \| 1 Baths \| 1066 Sq. Ft.	$2,276,406

Address	Redfin Estimate
473 James Rd, Palo Alto, CA 9 Beds \| 8 Baths \| 4381 Sq. Ft.	$2,801,519
4159 El Camino Way Apartment E, Palo Alto, CA 2 Beds \| 2 Baths \| 1310 Sq. Ft.	$1,193,462

Address	Redfin Estimate
488 James Rd, Palo Alto, CA - Beds \| - Baths \| 3082 Sq. Ft.	—
4151 El Camino Way Apartment I, Palo Alto, CA 1 Beds \| 1 Baths \| 639 Sq. Ft.	$600,216

Property information provided by undefined .

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About this home

Redfin Estimate

Market trends in 94306, CA

Sale history for 487 James Rd

Tax history for 487 James Rd

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Is this your home?

Nearby similar homes

New listings for sale in 94306

Home values near 487 James Rd

More real estate resources