Fixer-Upper Opportunity in the Heart of Midtown Palo Alto 2609–2617 Alma Street presents a rare chance to acquire a 4-unit multifamily property in one of Silicon Valley's most sought-after residential neighborhoods. Located steps from the California Avenue Caltrain Station, the vacant property offers an investor a clear path to renovation and full market-rate stabilization —with meaningful upside in a fundamentally supply-constrained market. • 4 units (2BR/1BA each) —ideal for a renovation-and-hold strategy • 8,070 SF lot in RM-30 —maximum 5 units per current zoning • Fully vacant —no tenant relocation costs or rent control obligations • True “Fixer-Upper”. Property needs substantial renovation to bring it up to rentable condition, and is priced accordingly! • Redevelopment path also available - Approved development entitlement for 4 detached 3-story townhomes (contact agents for details) • Carport parking (4 spaces) —1 per unit • Mostly dual-pane windows throughout • Concrete slab foundation with wood siding exterior