REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Marcus & Millichap
$ 1,600,000
Est. payment | /mo
3,194 SqFt
$ 1,600,000
Est. payment | /mo
3,194 SqFt
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
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "