Just blocks from the heart of downtown Palo Alto, this well-maintained triplex offers a rare chance to build long-term wealth in one of the country's most desirable cities. The property includes three distinct units: a 1-bedroom/1-bath, a 2-bedroom/1.5-bath two-story, and a studio with a full bath, each offering its own appeal. The two larger units feature updated kitchens, while the studio provides an updated kitchenette and an efficient layout ideal for additional income. Whether you're an investor looking for strong cash flow, a savvy buyer planning to live in one unit while renting the others, or a first-time investor ready to get into the market, this property delivers outstanding flexibility and value. With University Avenue, Stanford, top-ranked schools, world-class dining and shopping, and major employers all nearby, this location checks all the boxes: immediate income, long-term upside, and endless potential.
Listed by DeLeon Team
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License #70010006
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Deleon Realty
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650-900-7000
Last updated September 01, 2025
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Source: MLSListings #ML82008662
Listing Facts
TypeMulti-family
NeighborhoodUniversity South
Days on Prevu103
Size2,274 sqft
Price per sqft$1,270
Amenities
Pets Allowed
Parking
Location
Mortgage Calculator
Listing History
09/01/2025
Price Decreased
$2,888,000
08/13/2025
Price Decreased
$3,088,000
05/28/2025
Listed by Deleon Realty
$3,240,000
Property Details for 756 Waverley Street
Exterior
Construction
Number Of Units Total: 3
Roof: Shingle
Stories: 2
Year Built: 1910
Year Built Details: 2
Architectural Style: Cottage
Measurements
Building Area Total: 2,274
Lot Features: Grade - Mostly Level
Lot Size Acres: 0.11
Lot Size Area: 5,000
Lot Size Source: Assessor
Lot Size Square Feet: 5,000
Lot Size Units: Square Feet
Financial
Residential Income
Cap Rate: 3.77
Gross Income: $108,780.00
Operating Expense Includes: Other
Taxes
Parcel Number: 120-16-065
Interior
Features
Appliances: Other, Washer/Dryer, Washer/Dryer - Some Units
Flooring: Carpet, Hardwood, Laminate
Measurements
Living Area: 2,274
Other
Features
Accessibility Features: Other
Parking
Parking
Carport: Yes
Parking Features: Off-Street Parking, On Street
Parking Total: 1
Schools
Elementary School
Elementary School: Addison Elementary
Elementary School District: Palo Alto Unified
High School
High School: Palo Alto High
High School District: Palo Alto Unified
Middle or Junior School
Middle Or Junior School: David Starr Jordan Middle_1
Utilities
Equipment
Heating: Wall Furnace
Sewer: Public Sewer
Utilities: Public Utilities
Water Source: Water On Site
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