628 Waverley St

Excellent investment opportunity in the desirable and dynamic city of Palo Alto. This 14-Unit apartment building is situated on a 5,250 SF parcel of land with a gross building area of approximately 4,200 SF, offering its tenants cozy studios, 1-bedroom, and 2-bedroom floor plans. Most of the units have been modernized with updated cabinetry, new appliances, laminate flooring, tile flooring, and quartz countertops.
The 2-car garage at the rear of the property currently used as owner storage could be rented as parking/storage, or potentially be converted to an ADU. There is also an on-site laundry room with a washer/dryer. The new owner could add coin-operated units to generate additional income. The property has RUBS in place to recapture most of the utility costs.
Situated near Stanford University, Stanford Shopping Center, Downtown Palo Alto, and so much more, this premium location provides renters with diverse cultural attractions, vibrant entertainment and nightlife. This investment appeal is asset driven by low vacancy levels and a robust employment foundation.
Located in the heart of Palo Alto, 628 Waverley provides a rare opportunity to own an apartment building located in one of the most affluent areas in California catering to peninsula renters and Silicon Valley commuters. This unique property is a rare find!