727 Waverley Street, Palo Alto, CA 94301
List Price: $3.7M
Listing Status: Active
0Days on Market: 9
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1904
Lot Size: 7,500 sq ft
Annual Property Tax: $44,452
MLS Number: ML82049696
About This Property
727-729 Waverley St offers apartment investors an exceptional opportunity to acquire an income-producing property in one of the strongest rental markets in the world. Located just two blocks from the heart of downtown Palo Alto in the University South Neighborhood where only 7 multifamily (5+ units) properties have sold in the past 10 years. The property consists of six 1-bedroom, 1-bathroom units and two nonconforming bachelor studios (bedroom and bathroom only). Situated on a 7,500-square-foot lot with RM-30 zoning in the predominantly residential University South neighborhood, the property has been well maintained with updated electrical panels, a new rear stairway (all sb721 required EEEs passed inspection in "sound condition"), and numerous additional repairs completed as needed. Current rents are below market, presenting significant upside potential for a new owner, with three units immediately available for rent increases. Residents also benefit from an on-site leased coin-operated laundry facility serving all units. (note: the property address is 727-729 Waverley, 2 buildings on one lot)
Listing provided by: Bryan Danforth DRE #01789680 (650) 941-1111 bryan.danforth@compass.com, Compass
Source: CRMLS, MLS #: ML82049696
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.