1526 Arch St, Berkeley, CA 94708
10 Unit Apartment Building | $4,395,000 ($439,500/Unit) | 6.40% Cap Rate | Berkeley, CA 94708
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $4,395,000
- Property Type
-
Multifamily
- Square Feet
- 14,913 SF
Listing Contacts
Steven Pinza
Verified Profile
- Property Info
Property Overview
New price, higher rents, and four units vacant! 1526 Arch Street is a 10 unit multifamily apartment building, boasting a prime location in the highly sought-after Northside neighborhood of Berkeley, CA. The property was constructed in 1938, featuring 9,282 SF of rentable space comprised of three 3bd/1bth, two 2bd/1bth, two 1bd/1bth, and one studio apartment. The structure is set on a 8,075 SF lot with low-maintenance landscaping, onsite coin-operated laundry, ample basement/storage space, potential for two additional ADUs. Four of the units will be delivered vacant and can be immediately rented out at market rate rents. The building features 1:1 off-street parking, including four (4) garages and six (6) covered carport stalls which can be leased for additional income. Current rents have significant room for growth, providing a huge opportunity for rental upside via buyouts, tenant turnover, and annual adjustments. 1526 Arch Street is considered a Walker’s Paradise, located just blocks from parks, public transportation options, U.C. Berkeley's campus, and an array of stores & restaurants along Shattuck Ave.
Property Details
- Class
- C
- Year Built/Renovated
- 1938/2017
- Stories
- 3
- Property Subtype
- Storefront Retail/Residential, Office/Residential, Dormitory
- Lot Size (sq. ft)
- 8,276 SF
- Units
- 10
Highlights
- Four Units Vacant and 65% LTV First, and Up to $350K in Seller Carry Second Loan Proceeds at 3.5% Interest, Interest Only, for 2-3 Years.
- Onsite Coin-Operated Laundry, Leased Office Space, Two Large Storage Rooms, and Freshly Painted Common Area & Stairwell
- Fully Designed Plans to Add an Additional Two ADU's
- 1:1 Off-Street Parking Ratio, Including Four (4) Garage Spaces and Six (6) Covered Carport Stalls-All Parking Spaces Delivered Vacant!
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