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Listed by Emil Jellinek, DRE #02242403 • Marcus & Millichap
$ 1,525,000
Est. payment /mo
Price Dropped by $75K
1504 10th ST Berkeley, CA 94710
3,194 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,194 sqft
Price per Sqft $477
MLS Listing ID BE41129017
Year Built 1926
Lot Size 8,712 Sqft
Property Sub-Type Five 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
Area Berkeley Map Area 5
Interior
Heating Wall Furnace
Cooling Other
Flooring Wood
Exterior
Parking Features Attached Garage
Garage Spaces 2.0
Roof Type Composition
Building
Lot Description Other
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