Comm Ri Multi-units 5+ For Sale
11,480 Sqft - 968 Addison St, BERKELEY, California 94710
Property Description
Over 8% Cap Rate on Market Rents! 4.7% Cap Rate Day 1! 18 units in West Berkeley with huge upside potential. Situated on nearly half an acre and with one to one parking, this property offers tremendous intrinsic value with long term development potential. 968 Addison Street consists of twelve (12) 1-bed 1-bath units and six (6) 2-bed 1-bath units. Six of the units have recently been fully remodeled all the way down to the studs. With a market cap rate of over 8%, this building provides long term upside for future owner. The property is also located in an Economic Opportunity Zone.
Basic Details
Property Type : Comm Ri Multi-units 5+
Listing Type : For Sale
Listing ID : 40870749
Price : $4,250,000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 11,480 Sqft
Year Built : 1943
Lot Area : 0.46 Sqft
Features
Heating System : Wall Furnace
View : Other
Roof : Composition Shingles
Address Map
Country : US
State : CA
County : Alameda
City : BERKELEY
Zipcode : 94710
Street : Addison St
Street Number : 968
Floor Number : 0
Longitude : W123° 42' 20.1''
Latitude : N37° 52' 1.4''
MLS Addon
Office Name : JOSEPH M. TAPIA, BROKER
Building Type : Apt Complex
Area : Berkeley Map Area 1
Address : 968 Addison St
Cross Street : Eighth St
Directions to Property : BTWN Eighth & Ninth St
LA1User Code : R01700439
LA1Agent First Name : Grant
LA1Agent Last Name : Chappell
Status Category : Sold
Tot # Parking Spaces : 18
Tot # of Units : 18
List $/SqFt : $370
Age : 76
Apx Lot Sq Ft : 20,000 Sqft
Type of Building : Apt Complex
Annual Taxes : $999
Total Deposits : $0
ALL UNITS HAVE : Other
DISABLED FEATURES : Other
FLOORING : Other
LOT DESCRIPTION : Other
ON-SITE PARKING DESC : Parking Area
OPERATING EXPENSES : Electric, Gas, Insurance, Maintenance/repair, Management, Property Tax/assessments, Trash Removal, Utilities, Vacancy Factor, Water
SEPARATE METERS : Electric, Gas
SOME UNITS HAVE : Other
TENANT PAYS : Cable Tv, Electric, Gas
UNITS-OTHER : Other
WATER/SEWER : Other
LAUNDRY : Other
Census Tract : 4232.00
Bus Sq Ft of Bldg : 0 Sqft
EXISTING LOAN : Other, Assumable Qualify
Other Loans (Y/N) : No
1st Loan Balance : $999
2nd Loan Balance : $999
Tot Other Loans : $999
Financial Data Verif(Y/N) : 4.68
FINANCIAL DATA SOURCE : Owner
Ann Act Gross Inc : $0
Gross Oper Actual Inc : $0
Listing Type : Excl Right
Listing Service : Full Service
Special Information : None
Original Price : $4,250,000
Sold Price : $4,045,000
Previous Price : $4,250,000
Sale $/SqFt : $0
Gross Oper Actual Inc : 999
Annual Gross Sched Inc : 999
Net Oper Income : 999
Annual Mgmt Exp : 999
Annual License Exp : 999
Annual Util Exp : 999
Other Ann Exp : 999
Tot Ann Oper Exp : 999
First Loan Payment : 0
First Balance : 0
Annual Insurance Exp : 999
INTERNET DISPLAY : 0
INTERNET SITES : 0
SA1Agent Type : 0
Buyer Broker DRE Number : 00530854
Gross Rent Multiplier : 12.35
ZIDX Only Street Name : Addison St
Buyer Agent DRE Num. : 01853816
Co List Agent DRE Num. : 01898437
List Agent DRE Num. : 01700439
LA1Agent License ID : 01700439
LA2Agent First Name : John
LA2Agent Last Name : Caronna
LA2User Code : R01898437
SA1Agent First Name : Robert
SA1Agent Last Name : Johnston
SA1Agent License ID : 01853816
SA1User Code : ML230805
SA1NRDS_ID : 01853816
Annual Vacancy : 999
Gross Income : 999
Listing Broker DRE Numbe : 01870488
Sale/Original $ : 95
Annual Exp Yr : 999
Sale $/SqFt : 352
1st - Yrs Remaining : 0
Sale/Last List $ : 95
Interest Rate : 0
Board ID : OAKLAND BERKELEY
Showing : None
LO2Office Name : JOSEPH M. TAPIA, BROKER
SO1Office Abbreviation : ML88226
SO1Office Name : Marcus & Millichap
LO1Main Office ID : 41278
LO1Board ID : 0
LO2Office Identifier : 41278
LO2Main Office ID : 41278
SO1Office Identifier : 37518
SO1Board ID : 0
SO2Office Identifier : 0
SO2Office Type : 0
VOW Include : Yes
VOW Address : Yes
VOW Comment : Yes
VOW AVM : Yes
Status Detail : 0
Search Price : 4045000
Address Search Number : 968
Listing Agent : 114920
Listing Office : 41278
Co-List Agent : 308430
Listing Office 2 : 41278
Apprx Equity : 0
Buyer Agent 1 : 304348
Buying Office 1 : 37518
Co-Sell Agent : 0
Buying Office 2 : 0
Photo Count : 6
Input Date : 19/06/2019 14:55:34
Update Date : 10/03/2021 15:12:59
PhotoTimestamp : 24/03/2020 16:39:39
First Photo Add Timestamp : 19/06/2019 14:55:35
List Date : 19/06/2019
Expire Date :
Pending Date : 23/11/2019
Closing Date : 12/01/2020
Status Date : 24/03/2020
Price Date : 24/03/2020
Off Market Date : 23/11/2019
Status : Sold
Dual Variable : No
City Transfer Tax : Yes
Point of Sale Ordinance : Yes
Ocpnt Req 24 Hr : Yes
Off Market Status Date : 25/09/2019
LVT Date : 19/06/2019
DOMLS : 107
Cumulative DOMLS : 233
Unit # 1 # of Bathrooms: 1
Unit # 1 # of Bedrooms: 1
Unit 1 # Units This Type?: 12
Unit # 2 # of Bathrooms: 1
Unit # 2 # of Bedrooms: 2
Unit 2 # Units This Type?: 6
