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729 Waverley ST Palo Alto, CA 94301
7,501 Sqft Lot
Open House
Thu Jun 25, 11:00am - 12:00pm
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82049696
HOA Y/N No
Year Built 1904
Annual Tax Amount $44,452
Lot Size 7,501 Sqft
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
Area 699 - Not Defined
Zoning RM30
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Shingle
Building
Water Public
Schools
School District Palo Alto Unified
Others
Tax ID 12016059
Special Listing Condition Standard
Listed by Bryan Danforth Compass #01789680
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