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Eric Boyenga

e@boyenga.com +1(408) 506-3942

Listed by Bryan Danforth, DRE #01789680 • Compass

$ 3,700,000

Est. payment | -/mo

1 Bed

1 Bath

3,258 SqFt

Save

$ 3,700,000

Est. payment | -/mo

Save

1 Bed

1 Bath

3,258 SqFt

Key Details

Property Type Multi-Family

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 3,258 sqft

Price per Sqft $1,135

MLS Listing ID ML82049696

Bedrooms 1

Full Baths 1

Year Built 1904

Lot Size 7,500 Sqft

Property Sub-Type Five or More Units

Source MLSListings, Inc.

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 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

Tax ID 120-16-059

Special Listing Condition Not Applicable

+1(408) 506-3942

e@boyenga.com

167 S. San Antonio Road, Altos, CA

727 Waverley ST Palo Alto, CA 94301