Property Detail

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.