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Key Details
Sold Price $1,387,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 41038686
Sold Date 02/15/24
HOA Y/N No
Year Built 1962
Lot Size 5,201 Sqft
Property Description
Nestled just one block from the vibrant University Avenue and a mere 8-minute jaunt from UC Berkeley, this enchanting 6-Unit complex boasts an unbeatable location tailor-made for both scholars and professionals alike. Its cyclist-friendly lanes, swift access to I-80, and close proximity to public transit and the bustling 4th Street shopping district epitomize the epitome of convenience and a covetable lifestyle for its residents. This property, encompassing six units - including (4) inviting 1-bedroom units and two cozy studios - sprawls across approximately 2,736 square feet and comes with 6 parking spaces, coin laundry and secure bike racks. Originally crafted in 1962, the complex gracefully occupies an expansive lot measuring roughly 5,200 square feet, presenting an enticing opportunity for astute investors aiming to harness the escalating rental rates in the area. With an astonishing 42% upside in rental income potential, this property stands poised to yield an impressive annual income of $113,942, translating into an estimated gross rental income that surges past $9,495 each month, making it an irresistible proposition for those seeking substantial returns on their investments.
Location
State CA
County Alameda
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Total Parking Spaces 6
Others
Tax ID 5619717
Financing Conventional
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Bought with Sukhjinder Singh • Alliance Bay Realty