$8,000,000 USD
415-287-6982
2477 Virginia St
Berkeley, CA 94709
North Berkeley
HIGHLIGHTS
- Prime North Berkeley Location: Located in the heart of Berkeley’s highly sought-after Northside neighborhood
- 24-Unit Multifamily Investment: The property caters to a wide tenant base, ensuring steady occupancy and long-term rent growth.
- Strong In-Place Income with Upside Potential: Immediate upside through loss-to-lease recapture and incremental rent adjustments to market.
- Value-Add Opportunity: With current average rents approximately 20- 25% below market, investors can capitalize on organic rent growth.
- Attractive Physical Asset: Built in 1964, the ±25,644 SF building sits on a ±0.29-acre lot, offering 25 secure parking spaces.
- Favorable Unit Sizes: Large average unit size of ±1,068 SF provides flexibility for future renovations or student-oriented leasing strategies.
FOR SALE DETAILS
PRICE
$8,000,000 USD
PRICE/SF
$312 USD /SF
# OF UNITS
24
PRICE/UNIT
$333,333
CAP RATE
4.61%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Court Royal
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1964
PARKING SPACES
25
LAND DETAILS
LAND ACRES
0.29 AC
LAND SF
12,502 SF
ZONING
-
APN/PARCEL ID
058-2194-006-00
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415-287-6982
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415-287-6982
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