Hi, my name is Steve Johnson, and I’ve been a residential developer for most of my career, specializing in Los Altos, Los Altos Hills, Palo Alto, and the surrounding areas. My focus has always been single-family homes—and as we all know, it truly comes down to location, location, location.

The approximately 14,000-square-foot lot at 706 University Avenue is one of those rare, A-plus locations that both developers and end users are always searching for—but seldom find. Lots of this size, flexibility, and proximity to downtown simply don’t come along often.

What makes this property so compelling is the number of paths it offers, all while staying within walking distance of downtown Los Altos:

You can comfortably live in the fully remodeled three-bedroom, three-bath home today while you take your time planning what you ultimately want to do—without the pressure of finding another lot or investing in a second property elsewhere.

When the time is right, the site allows for the construction of a 5,000+ square-foot luxury residence above grade in one of the most desirable locations in the area.

There is also the opportunity to pursue an SB9 subdivision, creating two homes and two ADUs, for approximately 8,300 square feet of total buildable space. At an estimated $2,000 per square foot sale price, the upside is compelling—the math speaks for itself.

For the right buyer, this could also become a private family compound—ideal for multi-generational living or for families relocating from abroad—where everyone can be together while still enjoying their own space and privacy.

Quite honestly, this is one of the best lots I’ve ever purchased. If I could convince my own family to move into it, we would. FYI I am still trying to persuade my family to make this move!

If you have any questions, please feel free to reach out. Sophia will take great care of you, and I’m always available as well. This is an A-plus property with exceptional value, and the possibilities here are truly endless.

— Steve