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Home > New Faculty Housing > Lottery Sales > Lottery 18: Stanford (Olmsted Terrace) & Palo Alto (College Terrace & Southgate)

FSH Lottery Sale
Lottery 18: Stanford (Olmsted Terrace) & Palo Alto (College Terrace & Southgate)

Lottery Information

Dates
  • 11/20/2019 – Interest List Opens (Wed 1pm)
  • 11/22/2019 – Open House #1 (Fri 4pm – 6pm)
  • 12/03/2019 – Open House #2 (Tue 4pm – 6pm)
  • 12/06/2019 – Interest List Closes (Fri 5pm)
  • 12/10/2019 – Lottery Results Posted (Tue 1pm)
  • 12/11/2019 – Home Selection and Purchase Deposit Appointments Begin

Eligibility Criteria

Faculty who are eligible:
  • Are Members of the Academic Council who have a 100% Academic Council appointment and are working 100% time; and
  • Have an appointment, that has been approved by the President, for a term of 3 years or more with the possibility of reappointment, or have received tenure, or have an appointment with continuing term; and
  • Have attended an Open House or had a private tour for the Lottery homes; and
  • Do not have a reservation or contract on a single-family home in a FSH lottery or FSH Direct Sale single-family home.
Overview

This lottery sale will comprise of 3 single-family homes. Two of the homes are located in Palo Alto neighborhoods, one home is located in College Terrace and one is located in Southgate. The third home is located in the Olmsted Terrace neighborhood of Stanford.

These homes are subject to a Stanford "Restricted" Residential Ground Lease, and Stanford is selling these leasehold interests through a random number drawing (lottery).

These homes are being sold “As-Is.”

Restricted Ground Lease

All homes located on Stanford Lands are subject to a ground lease. Not all ground leases are the same.

These homes are subject to a Stanford "Restricted" Residential Ground Lease (Restricted Lease). The Restricted Lease program is designed to help address the challenge of finding affordable housing in Stanford and surrounding cities. By restricting certain rights of lessees, the University is able to offer long-term leasehold interests at significantly less than the cost of either a conventional leasehold interest or fee ownership of an otherwise comparable home.

Information regarding the "Restricted" Residential Ground Lease is available for reference here.

Listing Information

Neighborhood Details

College Terrace is a highly sought-after neighborhood in the City of Palo Alto. The neighborhood is located blocks from Stanford University, in a 2 block by 12 block area that lies between South California Avenue and Stanford Avenue, from Amherst Street to El Camino Real. All of the street names in the neighborhood are named after East Coast colleges and universities. The homes in the neighborhood are known for their eclectic nature.

Southgate is a neighborhood in the City of Palo Alto, California. Living in Southgate offers residents a dense suburban feel with a lot of restaurants, coffee shops, and parks nearby. The neighborhood was named due to its location at the southern end of the Stanford campus where residents can walk to shopping, sporting events, or to public transportation. There is a mix of architectural styles and home vintages within the neighborhood.

Olmsted Terrace is a neighborhood of 39 homes several architectural styles that reflect the bungalow cottages in the adjacent neighborhood of College Terrace and greater Palo Alto. The styles include Bay Area Bungalow, Classic Craftsman, Traditional, Historic California and European Cottage. These two-story open floor plan homes were designed with features both in the home and on the surrounding grounds to contribute to the sustainability of the environment.

1015 Stanford Avenue, located in the College Terrace neighborhood of Palo Alto, is a brand new two-story single-family home built in 2019. This colonial style home offers an open floor plan and the convenience of indoor/outdoor living. The home features a den, a private yard, natural light, as well as modern finishes and more.

1530 Castilleja Avenue, located in the Southgate neighborhood of Palo Alto, is a single-story, single-family home built in 1948. This traditional style home offers a family friendly floor plan with a detached garage. The home features a private yard, natural light, as well as contemporary finishes and more.

419 Olmsted Road, located in the Olmsted Terrace neighborhood of Stanford, is a two-story single family home built in 2010. This Bay Area bungalow style home offers an open floor plan with an attached garage and two patio areas. Sustainable features include high efficiency gas furnaces, SEER air conditioning units, dual pane low E energy efficient windows, bio-retention to treat storm water, and much more.


Property Details (part 1 of 2)

Address 1015 Stanford Avenue
Palo Alto, CA 94306
1530 Castilleja Avenue
Palo Alto, CA 94306
Purchase Price $1,885,000 $1,790,000
Floor Plan 3 BR / 3 BA + Den 3 BR / 2 BA
Home Size (approx.) 2,027 Sq. Ft. 1,366 Sq. Ft.
Lot Size (approx.) 5,837 Sq. Ft.
(0.13 ac)
6,500 Sq. Ft.
(0.15 ac)
Year Built 2019 1948
Architectural Style Colonial Traditional
Parking 1-Car Detached Garage 2-Car Detached Garage
Amenities Contemporary kitchen, stainless steel appliances (washer/dryer, refrigerator, dishwasher, range, & microwave), a den, and more! Traditional kitchen with stainless steel appliances (washer/dryer, refrigerator, dishwasher, range, & microwave), gas insert, and more!
Utilities All available.
Separately Metered.
Owner Pays.
All available.
Separately Metered.
Owner Pays.
Subdivision Fee No No
Schools Escondido Elementary
Greene Middle
Palo Alto High
Walter Hays Elementary
Greene Middle
Palo Alto High
Images Floor Plan
Photos
Virtual Tour
Floor Plan
Photos
Virtual Tour

Property Details (part 2 of 2)

Address 419 Olmsted Road
Stanford, CA 94305
Purchase Price $1,575,000
Floor Plan 4 BR / 2.5 BA + Office
Home Size (approx.) 2,235 Sq. Ft.
Lot Size (approx.) 5,525 Sq. Ft.
(0.12 ac)
Year Built 2010
Architectural Style Bay Area Bungalow
Parking 2-Car Attached Garage
Amenities This home features black-based granite counters throughout, maple wood cabinets and tile flooring. The dining area opens to a great room, and both feature hardwood flooring. There is an adjacent guest parking space, private yard, and natural light. The home has a security system, is hardwired form EV charger, audio-visual equipment, and much more!
Utilities All available.
Separately Metered.
Owner Pays.
Subdivision Fee Yes, The Olmsted Terrace Homes are located within the residential subdivision on the Stanford University Campus. They pay a monthly ground rent, and are members of the Stanford Campus Residential Leaseholders or SCRL (https://scrl.stanford.edu/).
Schools Escondido Elementary
Greene Middle
Palo Alto High
Images Floor Plan
Photos
Virtual Tour

Frequently Asked Questions (FAQs)

Answers to FAQs regarding the homes and the FSH Lottery are available here.

Interest List Application

The interest list is now closed.



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Important Notice
Nothing on this site or in the documents it contains should be construed as an offer or commitment of any kind. Programs and eligibility requirements can be changed or discontinued without notice.


 
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