Step into one of Palo Alto’s most distinctive multifamily opportunities. Ideally 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 one two-bedroom/one-bath unit, three one-bedroom/one-bath units, and ten 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 property’s 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 detached garage currently utilized by the owner, and a spacious basement used for management storage and housing five water heaters servicing the building. Added income exists through the implementation of RUBS utility bill-back, enhancing overall operating performance. With its extraordinary location near Stanford University and countless high-profile Silicon Valley employers, this asset benefits from exceptional demand drivers tied to education, innovation, and high-earning professional demographics. The combination of irreplaceable positioning, flexible unit mix, and value-add potential makes 628 Waverly Street an outstanding and rare investment opportunity in the heart of Palo Alto.