Parker Villa Apartments
32 Unit Apartment Building | $11,995,000 ($374,844/Unit) | 5.50% Cap Rate | Berkeley, CA 94704
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $11,995,000
- Property Type
-
Multifamily
- Square Feet
- 32,000 SF
Listing Contacts
Steven Pinza
Verified Profile
- Property Info
Property Overview
The Pinza Group is proud to market The Parker Villa Apartments, a 32 unit multifamily property comprised of thirty 2bd/2bth and two 1bd/1bth, built in 1964. The structure is set on a massive 20,250 SF lot, featuring on site laundry amenities, 1:1 off-street parking, and storage, all of which generate additional income. Current ownership has completed nearly $500K in recent improvements, including: a full seismic retrofit, brand new roof, upgraded dual pane windows, resurfaced asphalt parking lot, and a new wood gate surrounding the property. Three private garages will be delivered vacant, allowing for easy conversion into an ADU. There is significant rental upside and ability for implementation of RUBS, modern remodels, monetization of parking, and more.
Located steps to coveted UC Berkeley, Parker Villa Apartments is "Very Walkable" and a "Biker’s Paradise" according to walkscore.com. The property has easy access to several modes of public transportation including BART and AC Transit Bus lines, and is a short distance to shopping, dining, and other Berkeley amenities.
Email: [email protected] for a complete marketing package
Located steps to coveted UC Berkeley, Parker Villa Apartments is "Very Walkable" and a "Biker’s Paradise" according to walkscore.com. The property has easy access to several modes of public transportation including BART and AC Transit Bus lines, and is a short distance to shopping, dining, and other Berkeley amenities.
Email: [email protected] for a complete marketing package
Property Details
- Class
- C
- Year Built/Renovated
- 1964/2015
- Stories
- 3
- Property Subtype
- Manufactured Housing/Mobile Home, Dormitory
- Lot Size (sq. ft)
- 20,038 SF
- Units
- 32
Highlights
- Nearly $500K in Recent Improvements, Including: Full Seismic Retrofit, Brand New Roof, Upgraded Dual Pane Windows, and Resurfaced Parking Lot
- Set on a Massive 20,250 SF Lot, Boasting a 1:1 Off-Street Parking Ratio and On Site, Coin Operated Laundry
- Potential to Increase Unit Count Through ADU Conversion of Common Area and Unused Private Garages
- Conveniently Located Just a Few Blocks to UC Berkeley & Downtown Berkeley, Shopping, Dining, and More
- CAttractive Interest Only Seller Carry Loan Available at a High LTV
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