Courtyard at Bay Road — Sale in East Palo Alto, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: East Palo Alto, CA 94303

Investment Figures

Cap rate
4.38%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Courtyard at Bay Road is a 77-unit affordable housing community located in the heart of Silicon Valley—minutes from downtown Palo Alto, Stanford University, and the global headquarters of Meta, Google, and Tesla. Built in 2006, the property offers over 148,000 square feet of rentable area on a 1.6-acre site, combining modern construction with long-term affordability in one of the most supply-constrained and highest-barrier-to-entry markets in the country. The subject property serves households earning between 30% and 60% of area median income, providing a mix of one-, two-, three-, and four-bedroom units. Residents benefit from proximity to major job centers, transit connections, and the Bay Trail, while just a short drive from Stanford Shopping Center and downtown Menlo Park. The property is 96% occupied, with in-place rents well below market comparables, positioning it for stable long-term performance and future upside through compliance-safe rent growth. East Palo Alto has undergone substantial reinvestment over the last decade, transitioning from a historically under-served community into one of the most active redevelopment corridors in the Bay Area. With new mixed-use projects, improved retail, and transit access, the neighborhood has become a strategic focus for institutional affordable housing investors. The property has a LIHTC Regulatory Agreement on it that must be followed. The right buyer will see an opportunity to purchase a 2006 Construction Project, with strong upside in rents, long-term affordability for residents, in an area with fast-growing incomes that will continue to push rents up. Furthermore, with the Big Beautiful Bill passed this summer, there is a strong possibility of re-syndicating the property with a fresh round of Tax Credits to upgrade the physical plant and push down operating costs. Investment Highlights: • High-Barrier Silicon Valley Location: Situated just across U.S. 101 from downtown Palo Alto, the property sits in one of the

Market Context

This multifamily in East Palo Alto, CA is listed for sale. It is offered at an approximate 4.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in East Palo Alto, CA — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in East Palo Alto, CA