The Silicon Valley Local Race takes place on Hanover Street in Palo Alto.
Parking (and pit area) is in the Varian parking lot right as Hanover curves to go up the hill.
The end of the run out is roughly the Cooley parking lot entrance.
The finish line is downhill of the last Lockheed parking lot entrance.
The starting ramps are not quite at the top of the hill.
The best spot to view the race is at the bus stop at the finish line or along the sidewalk.
Here are a few pictures: