1742 Martin Luther King Jr Way
Berkeley, CA 94709


  • $1,095,000
  • 1,943 Sq/ft
  • Built in 1915

Details

Property Highlights
* Asking Price: $1,095,000 

* Incredible Three Unit Investment Just Blocks Away From The UC Berkeley Campus 

* Features Three Total Units, Including One 2bd/1bth, One 1bd/1bth, and One Studio on a 3,610 SF Lot 

* Current Rents Approximately 38% Below Market Rate, Providing an Excellent Value-Add Opportunity 

* Property Improvements Include a New Back Porch, an Electronic Security Gate, and Remodeled Interiors 

* All Units are Separately Metered for Gas and Electricity 

* Individual Wall Heaters, Private Driveway, On-site Coin Operated Laundry, and Ample Street Parking for Guests 

* Prime North Berkeley Location, Near an Array of Restaurants, Parks, Public Transportation, I-80, and UC Berkeley

Property Summary
Property Type: Multifamily
Asking Price: $1,095,000
Year Built: 1915
Number of Units: 3
Price/Unit: $365,000
Building Size: 1,943 SqFt
Price/SqFt: $563.56
Cap Rate: 3.21%
Market Cap Rate: 5.16%
GRM: 17.1
Market GRM: 12.66
Lot Size: 3,610 SqFt

Property Overview
The Pinza Group is proud to present this excellent three-unit apartment building, perfectly situated in one of the Bay Area's hottest rental markets. The structure is just blocks away from the highly coveted UC Berkeley campus, delicious restaurants, public transportation, and I-580. The building has one 2bd/1bth, one 1bd/1bth, and one studio unit. Each unit is separately metered for gas and electricity, with individual wall heaters, on- site laundry with the potential to generate additional cash flow, and a private electronic gate. This investment is ideal for an investor looking to capitalize on Berkeley's fast-growing city, as it has a 1:1 parking ratio, ample street parking, and value-add potential with current rents 38% below market rate, giving new investors the opportunity to capture upside upon turnover, annual rent increases, and capital improvement passthroughs.

Location Overview
1742 Martin Luther King Jr. Way is located along the northern border of the University of California, Berkeley and is nestled in North Berkeley's most desirable neighborhood in the East Bay. Renters with fur babies will enjoy the proximity to various parks, including Live Oak Park and Ohlone Dog Park. The neighborhood is a hub for entertainment and gourmet dining, with a myriad of eateries. Renters with various palates will appreciate these diverse restaurants.

Images

Contact

Feel free to contact us for more details!

Brandon Ghilarducci

Brandon Ghilarducci

The Pinza Group

The Pinza Group