$1,550,000
$1,679,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
3,814 SqFt
SOLD DATE : 04/15/2024
Key Details
Sold Price $1,550,000
Property Type Commercial
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 3,814 sqft
Price per Sqft $406
Subdivision Poets Corner
MLS Listing ID 41051364
Sold Date 04/15/24
HOA Y/N No
Year Built 1962
Lot Size 6,000 Sqft
Acres 0.14
Property Description
Great cash flow from this well maintained and managed 6-plex on a quiet street in the heart of Berkeley’s Poet District. There have been many upgrades to this 1960´s building including installation of double pane windows in all units and a complete remodel of the kitchens and baths in units 1,2,3 and 4. This included new kitchen cabinets, appliances, granite countertops, tile flooring in the kitchens and baths, and refinished hardwood floors in the bedrooms and hallways. Unit 5 also had the kitchen remodeled. New PSL installed 3/1/2024. Off-street parking for all 5 two-bedroom units. Fixed skylights in the bathrooms of units 4 and 5. Low maintenance landscaping, separate PG&E, separate water meters, and laundry room w/ leased coin operated machines. 8 blocks to North Berkeley BART, 3 blocks to West Berkeley’s vibrant restaurant district, 1 1/2 blocks to AC bus that goes to UC Berkeley and BART. 3 blocks to 3 other AC bus lines that go to Berkeley Amtrak and many other destinations. Priced at 11.39 X GRM and a 6.4% cash on cash return initially w/ existing under market rents with the potential of increased cash flow with future tenant turnover. Priced at $440 per sq. ft. & under $280k per unit. This pride of ownership building provides a solid investment for years to come.
Location
State CA
County Alameda
Area Listing
Rooms
Basement None
Interior
Heating Natural Gas, Wall Furnace
Cooling Ceiling Fan(s)
Flooring Hardwood, Tile, Carpet
Fireplace No
Window Features Skylight(s)
Appliance Disposal, Free-Standing Range, Refrigerator, Dryer, Washer, Gas Water Heater
Laundry Dryer, Laundry Room, Washer
Exterior
Utilities Available Wired For Cable TV, Natural Gas Available, Individual Electric Meter, Individual Gas Meter
Building
Lot Description Regular
Water Public
New Construction No
Others
Tax ID 561925131
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with JessieLunsford
9030 BRENTWOOD BLVD, BRENTWOOD, California, 94513, United States