729 Waverley Street, Palo Alto, CA 94301
729 Waverley Street, Palo Alto, CA 94301
729 Waverley Street, Palo Alto, CA 94301
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Keller Williams Walnut Creek

Keller Williams Walnut Creek

+1(100) 000-0000
Listed by Bryan Danforth • Compass
$3,700,000
Est. payment /mo
3,258 SqFt
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Open House

Thu Jun 25, 11:00am - 12:00pm

UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 3,258 sqft

Price per Sqft $1,135

MLS Listing ID ML82049696

HOA Y/N No

Year Built 1904

Lot Size 7,500 Sqft

Property Sub-Type Other

Source Datashare MLSListings

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)

Location

State CA

County Santa Clara

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Building

Water Public

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Bay East Association of Realtors
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Keller Williams Walnut Creek

Keller Williams Walnut Creek

+1(100) 000-0000

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729 Waverley Street