Rare opportunity in Downtown Palo Alto. Perfectly shaped and expansive 8,036 square foot lot (48 feet of street frontage by 164 feet deep). Located in the RM-20 zone district, which is a Low Density Multiple-Family Residence District. Enjoy the charming home built in 1926, with 2 Bedrooms and 1.5 bathrooms, living room with handsome fireplace, detached 2 car garage with attached storage space. Convenient location with easy access to downtown Palo Alto and Stanford Shopping Center, and just a few blocks from the Caltrain station. Sought after Palo Alto schools. Live in as is, remodel and expand, build an accessory dwelling unit in the back of this deep lot, or a multi-family compound.