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Listed by Emil Jellinek • Marcus & Millichap
$ 1,600,000
Est. payment /mo
Open Wed 1PM-2PM
1504 10th Street Berkeley, CA 94710
3,194 SqFt
Open House
Wed Apr 22, 1:00pm - 2:00pm
Fri Apr 24, 1:00pm - 2:00pm
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,194 sqft
Price per Sqft $500
Subdivision Berkeley
MLS Listing ID 41129017
HOA Y/N No
Year Built 1926
Lot Size 8,712 Sqft
Property Sub-Type 5 or More Units
Source BAY EAST
Property Description
The offering presents 1504 10th Street, Berkeley, CA, a well-maintained 6-unit multifamily property comprising 6 1-bedroom, 1-bathroom units. The 3,194 sq. ft. building sits on a 0.20-acre lot and is currently 67% occupied. Built in 1926, the property offers a prime location near UC Berkeley and is within walking distance of restaurants, shops, and public transit. With below-market rents, there is a significant value-add opportunity to increase rents to market rates and improve occupancy. The current rent roll totals $11,627/month, with a pro forma rent roll of $14,400/month, representing a 19% upside. The current cap rate is 5.90%, with a proforma cap rate of 7.90%, indicating strong potential for future returns.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Cooling Other
Flooring Wood
Fireplace No
Building
Lot Description Other
Others
Special Listing Condition Offer As Is
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