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    1607 Milvia St

    Berkeley, CA 94709
    • $3,950,000
    • STATUS: Active
    • ON SITE: 239 days
    • ID#: 40896603
    UPDATED: 47 min ago
    $3,950,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1966
    County:
    Area:

    School Ratings & Info

    Description

    Investors Dream! Location! Upside Too! This mid century 7 unit building has 7 carports and boasts FIVE units which might be able to be delivered vacant! All four of the 3 bedrooms units plus the studio unit can fetch top rents. Just 1 and 1/2 blocks to UC Berkeley North Campus entrance. Rent to your investor's heart's desire! The 2 tenant occupied units have tremendous rental upside due to in place long term tenants. The units are spacious and floorplans are functional. Seismic work done. Further upside can be realized from renting carports separately, installing on-site laundry and unit upgrades. Or rent out as is for immediate income. Proforma GRM will be a mere 15.6x and CAP at 4.4%. And still, there is more upside potential from future turnovers and building improvements. Incredible North Campus location, a block and a half to North Campus entrance and 2 BART stations. Minutes to Alta Bates, cafes and all campus life conveniences. Hurry!

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    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-21T08:38:14.447.

    www.searcheastbayrealestate.com/homes/103509464
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    1607 Milvia St Berkeley, CA 94709

    • Price: $3,950,000
    • Status: Active
    • Updated: 47 min ago
    • ID#: 40896603
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    1966
    Built
    Neighborhood:
    North Campus
    County:
    Alameda
    Area:
    Berkeley
    Property Description
    Investors Dream! Location! Upside Too! This mid century 7 unit building has 7 carports and boasts FIVE units which might be able to be delivered vacant! All four of the 3 bedrooms units plus the studio unit can fetch top rents. Just 1 and 1/2 blocks to UC Berkeley North Campus entrance. Rent to your investor's heart's desire! The 2 tenant occupied units have tremendous rental upside due to in place long term tenants. The units are spacious and floorplans are functional. Seismic work done. Further upside can be realized from renting carports separately, installing on-site laundry and unit upgrades. Or rent out as is for immediate income. Proforma GRM will be a mere 15.6x and CAP at 4.4%. And still, there is more upside potential from future turnovers and building improvements. Incredible North Campus location, a block and a half to North Campus entrance and 2 BART stations. Minutes to Alta Bates, cafes and all campus life conveniences. Hurry!
    Exterior Features

    Additional Misc Features Balcony/PatioWired For Cable Tv Exterior StuccoWood Frame Lot Description LevelRegular Parking Description Carports - 2 Or MoreParking AreaSpace Per Unit - 1 Parking Spaces Total 7 Parking Spaces Unit1 1 Parking Spaces Unit2 1 Parking Spaces Unit3 1 Parking Spaces Unit4 1 Roof Unknown

    Interior Features

    All Units Have DisposalOven Range Free StandingRefrigerator Basement None Bathrooms Unit1 1 Bathrooms Unit2 1 Bathrooms Unit3 1 Bathrooms Unit4 1 Bedrooms Unit1 3 Bedrooms Unit2 2 Bedrooms Unit3 0 Bedrooms Unit4 2 Cooling None Flooring CarpetLinoleumTile Heating GasWall Furnace Laundry In ClosetOtherWasher Range Oven Unit1 Yes Range Oven Unit2 Yes Range Oven Unit3 Yes Range Oven Unit4 Yes Refrigerator Unit1 Yes Refrigerator Unit2 Yes Refrigerator Unit3 Yes Refrigerator Unit4 Yes Some Units Have DeckMicrowaveOven Range Free StandingPatioRefrigerator

    Property Features

    Annual Expense Year 71600 Annual Gross Fee Income 251928 Annual Gross Sched Income 251928 Annual Insurance Expense 1819 Annual License Expense 2210 Annual Maintenance Exp 500 Annual Management Expense 12596 Annual Miscellaneous Inc 7200 Annual Rental Inc 2 Annual Taxes 48585 Annual Total Oper Exp 71600 Annual Utility Expense 4140 Annual Vacancy Expense 3 Building Type 5 Or More Units City Transfer Tax Yes Equipment Additional Water Heater GasWindow Coverings Existing Lease Terms Other Financial Data Source EstimatedLimited InfoOwnerProjected Gross Oper Actual Inc 244370 Net Operating Income 172769 Operating Expenses GasInsuranceLicense/AdsMaintenance/RepairManagementProperty Tax/AssessmentsTrash RemovalUtilitiesVacancy FactorWater Other Annual Expense 750 Point Of Sale Ordinance Yes Rent Unit1 4200 Rent Unit2 612.00 Rent Unit3 1900 Rent Unit4 680.71 Separate Meters ElectricGas Special Information None Tenant Pays Cable TvElectric Tot Bldg Sq Ft 4615 Total Deposits 650 Water Sewer Sewer System - PublicWater - Public

    Listing courtesy of Monica Chung of Andersen, Jung & Co..


    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-21T08:38:14.447.

     
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