1734 Spruce St - Apartments FOR SALE


Berkeley, CA 94709- North Berkeley
$3,290,000 USD
510-336-4721
1734 Spruce St, Berkeley, CA for Sale
$3,290,000 USD
Apartments - FOR SALE
1/12
null | 4.72% Cap Rate

1734 Spruce St
Berkeley, CA 94709
North Berkeley


HIGHLIGHTS

  • 7-unit turnkey multifamily just one block from UC Berkeley
  • 4.72% cap rate | 13.27 GRM with strong in-place income
  • Over $900,000 in capital improvements with 5 fully renovated units
  • ADU development potential on large lot for additional upside
  • Prime Berkeley location with strong student and professional rental demand
  • Minimal deferred maintenance and stable long-term asset

OVERVIEW

NAI Northern CA is pleased to present 1734 Spruce, a 7-unit turnkey multifamily property located one block from UC Berkeley. The unit mix consists of one studio, two 1-bed 1-bath, three 2-bed 1-bath and one spacious 3-bed 2-bath unit. Recent upgrades include installation of a fire sprinkler system, on demand water heaters, roof replacement, exterior paint, voluntary seismic and electrical / plumbing updating. With a large lot, this property is a prime candidate for ADU construction in the rear of the property. Given all of the recent upgrades and lot size, this is truly a unique asset with development potential. 1734 Spruce Street is located in the highly sought area of Normandy Village in North Berkeley. The property is walking from the North side of UC Berkeley's campus, and a 10 minute walk or less to North Berkeley Bart, multiple grocery stores, and parks. In addition, there are a variety of restaurants within walking distance of the property, from the highly acclaimed Chez Panisse to a local favorite, Saul's Delicatessen. Due to the A+ location the property will remain in high demand from high paying tenants including students and young professionals.

FOR SALE DETAILS

PRICE

$3,290,000 USD

PRICE/SF

$748 USD /SF

# OF UNITS

7

PRICE/UNIT

$470,000

CAP RATE

4.72%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

-

APN/PARCEL ID

058-2181-006-00

ASK ABOUT THIS PROPERTY

Grant ChappellNAI Northern CaliforniaMore Info
510-336-4721

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Grant ChappellNAI Northern CaliforniaMore Info
510-336-4721

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