729 Waverley ST, Palo Alto, CA 94301
- $3,350,000
- 3,258
- SqFt
- List Price
- $3,350,000
- Price Change
- ▼ $350,000 1783464542
- MLS#
- ML82049696
- Status
- ACTIVE
- Sqft. of Residence
- 3,258
- Lot Size
- 7,500
- Listing Area
- Downtown Palo Alto
- Year Built
- 1904
Property Description
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)
Additional Information
- Cooling System
- None
- Foundation
- Concrete Perimeter, Wood Frame
- Garage Parking
- Common Parking Area
- Heating System
- Wall Furnace
- Living Area
- 3,258
- Lot Size
- 7,500
- Neighborhood
- Downtown Palo Alto
- Other Utilities
- Public Utilities
- Roof
- Shingle
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- Zoning
- RM30
Listing courtesy of Bryan Danforth, 650-274-5227 from Compass
(If provided) CoList: Matthew Thomson from Compass
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