729 Waverley Street, Palo Alto, CA 94301
- $3,250,000
- Sold Price
- $3,250,000
- List Price
- $3,350,000
- Closing Date
- Sep 04, 2026
- Status
- CLOSED
- MLS#
- ML82049696
- Year Built
- 1904
- Lot Size
- 7,500
- Acres
- 0.17
- Days on Market
- 59
- Property Type
- Commercial
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
- Taxes
- $41,366
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Shingle
- Water
- Public
- School District
- Palo Alto Unified
- Attached Structure
- Detached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $201,365
Listing courtesy of Listing Agent: Bryan Danforth (bryan.danforth@compass.com) from Listing Office: Compass.
Listing sold by Bryan Danforth from Compass
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.