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Listed by Bryan Danforth • Compass, DRE#01789680
$3,700,000
Est. payment /mo
1 Bed
1 Bath
3,535 SqFt
New
727-729 Waverley ST Palo Alto, CA 94301
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Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,535 sqft
Price per Sqft $1,046
MLS Listing ID ML82049696
Bedrooms 1
Full Baths 1
Year Built 1904
Lot Size 7,500 Sqft
Property Sub-Type Five or More Units
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 and University Avenue, 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 compliant with SB721 requirements, 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.
Location
State CA
County Santa Clara
Area Downtown Palo Alto
Zoning RM30
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Common Parking Area
Utilities Available Public Utilities
Roof Type Shingle
Building
Foundation Concrete Perimeter, Wood Frame
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 120-16-059
Security Features None
Special Listing Condition Not Applicable
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