2316 Haste St - Apartments FOR SALE


Berkeley, CA 94704- South Berkeley
$12,495,000 USD
510-822-1331
2316 Haste St, Berkeley, CA for Sale
$12,495,000 USD
Apartments - FOR SALE
1/20
null | 9.58% Cap Rate

2316 Haste St
Berkeley, CA 94704
South Berkeley


HIGHLIGHTS

  • Rare UC Berkeley 125-Bedroom Student Housing Investment Split into 42 Separate Pods with 42 Bathrooms
  • Unlimited Upside Potential to Run as Full Student Housing or Reposition for Multifamily Investment
  • 44,211 SqFt Building and 23,900 SqFt Combined Lot Close with Large Commercial Kitchen Covering Entire First Level
  • Excellent Berkeley Location Near UC Berkeley Campus, BART, Restaurants, Coffee Shops, Bars, and Shopping
  • Over 50% Rental Upside with Current Tenants

OVERVIEW

125-bedroom UC Berkeley student housing investment close to campus with excellent income and development upside. The property offers 125 large bedrooms split into 42 separate pods with 42 bathrooms providing a unique set-up with maximum privacy. The property was originally built in 1935, offers approximately 44,211 square feet of rental space, and sits on a 23,900 square foot combined lot running from Haste Street all the way to Dwight Avenue. A second parcel (APN 55-1882-9) is also included in the sale and offers parking for 20 cars. The entire first level consists of an updated commercial kitchen that was recently leased to a catering company. The property is in great condition and offers a management office, mail center, and space for communal meetings and dining. Until recently, the property was master leased to the same tenant for over 30 years and the remaining tenant base occupies approximately 40% of the building. The current tenants are far under market providing maximum rental upside upon tenant vacancy. Seller financing is available with excellent terms for well qualified buyers. The property is located in a high demand area close to UC Berkeley campus, BART, restaurants, coffee shops, bars, and shopping options making this an ideal location for tenants. ****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

FOR SALE DETAILS

PRICE

$12,495,000 USD

PRICE/SF

$104 USD /SF

# OF UNITS

125

PRICE/UNIT

$99,960

CAP RATE

9.58%

% LEASED

67%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

UC Berkeley Student Housing Investment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1935

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,900 SF

ZONING

-

APN/PARCEL ID

055-1882-008-00,055-1882-009-00

ASK ABOUT THIS PROPERTY

David HowarthPinza GroupMore Info
510-822-1331

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David HowarthPinza GroupMore Info
510-822-1331

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