729 Waverley ST Palo Alto, CA 94301 Open 6/25 11AM-12PM

UPDATED: 06/16/2026 04:50 PM ON SITE: 12 days on site

$3,700,000

1 Bed1 Bath3,258 SqFt

Key Details

Property Type Multi-Family, Commercial

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)


Based on information from the MLSListings MLS as of 06/17/2026 22:02
All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Blok are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.

The broker providing this data believes the data to be correct, but advises interested parties to confirm all information before relying on it for a purchase decision. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 06/17/2026 22:02
The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Blok are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.

Based on information submitted to the MLS GRID as of 06/17/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Digital Millennium Copyright Act – DMCA Notice

IDX information is provided exclusively for consumers’ personal non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, the data is deemed reliable but is not guaranteed by MLS GRID, the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Data last updated: 06/17/2026 22:02.