By Adrian Tan | Realtor®, MBA, Palo Alto Buyer Specialist
Community Center, as it is appropriately named, is just that—a community-centric neighborhood of Palo Alto where residents feel a strong connection to each other and the neighborhood itself. With a population of approximately 2,000, Community Center sees very low turnover with only 14 homes being available and sold in the past 12 months.
Bounded by Embarcadero Road, Middlefield Road, Channing Avenue, and Newell Road, Community Center contains a surprising number of attractions for such a small neighborhood. Palo Alto Junior Museum and Zoo, a performing arts theater, and 19-acre Rinconada Park are just some of the great locations available for residents to gather and meet. Many residents in Community Center have lived there for decades, further adding to the charm and communal feel of the neighborhood. Community Center is also just a leisurely walk away from downtown Palo Alto and famous University Avenue. Fine food and retail stores abound to appeal to a wide array of tastes. You would be hard-pressed to find better amenities and access to world-class dining and retail in such close proximity to a truly fantastic neighborhood.
Excellent public schools are perhaps one of the best reasons to live in Community Center. Both Addison Elementary and Walter Hays Elementary rank 10 out of 10 on the GreatSchools rating list. Additionally, both Palo Alto public high schools were recently ranked among the top five in California for academics, and the entire Palo Alto Unified School District was ranked #1 in the state and #18 nationally by education content provider Niche.com.
Low inventory and high demand are prevalent in Community Center. Community Center has an average sales price of $3,449,444 year-to-date, with an average price per square foot of $1,739 (all stats per the MLS). Typically built around the 1950s, Community Center homes are usually grouped into bundles which exist on standard lots of 7,500 square feet. The unique construction and building structures further add to the charm of the Community Center neighborhood. Community Center also includes one of Joseph Eichler’s final developments constructed in 1973 on the former Harker School location.
Community Center is mainly made up of residences occupied by owners, and the proximity to downtown Palo Alto, Stanford University, and Silicon Valley makes it an ideal location for any residential investor. In addition to the tech companies that boost the Silicon Valley housing market, Stanford University is an excellent indicator of the future of Palo Alto and all of its neighborhoods, including Community Center. Globally ranked as a top university, Stanford upholds its world-renowned status which then reflects on local areas, ensuring that popular neighborhoods like Community Center will continue to improve as time progresses.
Financially speaking, investing in a Palo Alto neighborhood, let alone one as difficult to enter as Community Center, can only be a good investment. The median sales price of all properties in Palo Alto has risen eight percent in the last year and 67 percent in the last five years. Together with the tax shelter and amazing financial opportunities that buying with DeLeon Realty can provide, Community Center is a sure way to get an excellent return on your investment.