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In-PersonVirtual Tour
$ 4,295,000
Est. payment | /mo
5,248 Sqft Lot
$ 4,295,000
Est. payment | /mo
5,248 Sqft Lot
Open House
Tue Nov 18, 11:00am - 12:30pm
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82027535
HOA Y/N No
Year Built 1904
Annual Tax Amount $51,433
Lot Size 5,248 Sqft
Property Description
Step into one of Palo Altos most distinctive multifamily opportunities. Located at 628 Waverly Street, this two-story, 14-unit property sits just one block from Downtown Palo Alto, offering unmatched walkability to world-class dining, entertainment, and major tech and academic employers. The building features a desirable unit mix consisting of (1) 2 bed/ 1 bath, (3) 1 bed/ 1 bath, and (10) studio units, appealing to a wide range of tenants in a market known for strong occupancy and premium rents. Five units are located on the ground floor and nine on the second floor, including the majority of the studio residences. A standout component of the building is Unit C, the propertys only two-bedroom unit, which offers a rare two-level configuration with living space on the first floor and a finished basement serving as an additional living and bedroom area. Unit E also offers a unique layout, being on the first floor, and its bathroom located on the upper level and exclusive to that studio. The property includes a shared laundry room, a garage currently utilized by the owner, and a spacious basement used for management storage and five water heaters servicing the building. Added income exists through the implementation of RUBS utility bill-back, enhancing operating performance.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning CDC
Interior
Heating Electric, Space Heater
Fireplace No
Exterior
Roof Type Flat
Schools
School District Palo Alto Unified
Others
Tax ID 12016021
Special Listing Condition Standard
Listed by Ray Rodriguez Compass