1504-1514 10th St - Apartments FOR SALE


Berkeley, CA 94710- Northwest Berkeley
$1,600,000 USD
510-384-1417
1504-1514 10th St, Berkeley, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/11
null | 5.49% Cap Rate

1504-1514 10th St
Berkeley, CA 94710
Northwest Berkeley


HIGHLIGHTS

  • Ideal unit mix of (6) 1-Bed/1-Bath units
  • Walking distance from North Berkeley BART Station
  • Just steps way from the vibrant 4th Street shops & restaurants
  • Just minutes from UC Berkeley Campus
  • Value-add opportunity through rental increases

OVERVIEW

The offering presents 1504 10th Street, Berkeley, CA, a well- maintained 6-unit multifamily property comprising 6 1-bedroom, 1-bathroom units. The 3,194 sq. ft. building sits on a 0.20-acre lot and is currently 67% occupied. Built in 1926, the property offers a prime location near UC Berkeley and is within walking distance of restaurants, shops, and public transit. With below-market rents, there is a significant value-add opportunity to increase rents to market rates and improve occupancy. The current rent roll totals $11,627/month, with a pro forma rent roll of $14,400/month, representing a 19% upside. The current cap rate is 5.49%, with a pro forma cap rate of 7.46%, indicating strong potential for future returns.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$501 USD /SF

# OF UNITS

6

PRICE/UNIT

$266,667

CAP RATE

5.49%

% LEASED

67%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1929

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,599 SF

ZONING

R-1A, Berkeley

APN/PARCEL ID

059-2311-007-00

ASK ABOUT THIS PROPERTY

Emil JellinekMarcus & MillichapMore Info
510-384-1417

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Emil JellinekMarcus & MillichapMore Info
510-384-1417

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.