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Multifamily

1257 Francisco Street, Berkeley, CA

1257 Francisco St, Berkeley, CA 94702

Listing Price: $3,480,000

Cap Rate
5.03%
Number of Units
6
Occupancy
100.0%
Price/Unit
$580,000
Price/Gross SF
$618.67
Gross SF
5,625

Investment Overview

This 100% occupied offering at 1257 Francisco Street, in Berkeley, CA is a six-unit apartment complex with a direct bike path leading to UC Berkeley via. an easy five-minute bike ride. The property is in impeccable condition, and benefits from a central location two blocks from North Berkeley BART. The building has been held and maintained by the same owner, a retired contractor, for over 27 years, and each unit is highly renovated on the interior. Constructed circa 1964 of wood frame with stucco siding, on a concrete slab foundation, the low maintenance building sits on a large 7,840 square foot lot (per public records). The property has spacious floorplans with three, two-bedroom one-and-a-half-bath and three, three-bedroom / one-and-a-half-bath units. Each apartment benefits from a private balcony, and there is a common area patio for tenants to enjoy the peaceful ambiance of the complex. For tenant convenience there is a common area laundry room with machines owned by the landlord, and open parking to the front of the complex. The current owner self-manages the complex and tenants have been carefully screened and hand selected such that the building benefits from stable, responsible tenants. This offering provides a new buyer with the opportunity to acquire a low maintenance, low management, extremely well kept, 100% occupied, and highly improved building. The location is ideal for tenants seeking an easy commute to nearby job centers, and UC Berkeley, which creates consistent strong rental demand upon tenant turnover. The prime location, and high quality of both building exterior and unit interiors, have led to strong historical occupancy near, with unit turnovers rented almost immediately, mostly to UC Berkeley graduate students.

Investment Highlights

  • All six units have been highly renovated with private balconies, dedicated parking, and on-site laundry.
  • 100% occupied with 8.59% starting return and three large floorplans of three-bed/one-and-a-half-bath and three, large two-bed/ one-and-a-half-bath units.
  • Hassle free commute (5 minutes) to UC Berkeley via. adjacent Ohlone bike path. Two blocks to North Berkeley BART. Great walk-score of 84 and bike score of 99 according to www.walkscore.com.

Exclusively Listed By

  • Jon A. Holmquist

    Senior Managing Director Investments

    (415) 625-2117

    Email Jon

    License(s): CA: 01257479

    San Francisco

Multifamily

1257 Francisco Street, Berkeley, CA

Listing Price: $3,480,000

Cap Rate
5.03%
Number of Units
6
Occupancy
100.0%
Price/Unit
$580,000
Price/Gross SF
$618.67
Gross SF
5,625

Investment Highlights

  • All six units have been highly renovated with private balconies, dedicated parking, and on-site laundry.
  • 100% occupied with 8.59% starting return and three large floorplans of three-bed/one-and-a-half-bath and three, large two-bed/ one-and-a-half-bath units.
  • Hassle free commute (5 minutes) to UC Berkeley via. adjacent Ohlone bike path. Two blocks to North Berkeley BART. Great walk-score of 84 and bike score of 99 according to www.walkscore.com.

Investment Overview

This 100% occupied offering at 1257 Francisco Street, in Berkeley, CA is a six-unit apartment complex with a direct bike path leading to UC Berkeley via. an easy five-minute bike ride. The property is in impeccable condition, and benefits from a central location two blocks from North Berkeley BART. The building has been held and maintained by the same owner, a retired contractor, for over 27 years, and each unit is highly renovated on the interior. Constructed circa 1964 of wood frame with stucco siding, on a concrete slab foundation, the low maintenance building sits on a large 7,840 square foot lot (per public records). The property has spacious floorplans with three, two-bedroom one-and-a-half-bath and three, three-bedroom / one-and-a-half-bath units. Each apartment benefits from a private balcony, and there is a common area patio for tenants to enjoy the peaceful ambiance of the complex. For tenant convenience there is a common area laundry room with machines owned by the landlord, and open parking to the front of the complex. The current owner self-manages the complex and tenants have been carefully screened and hand selected such that the building benefits from stable, responsible tenants. This offering provides a new buyer with the opportunity to acquire a low maintenance, low management, extremely well kept, 100% occupied, and highly improved building. The location is ideal for tenants seeking an easy commute to nearby job centers, and UC Berkeley, which creates consistent strong rental demand upon tenant turnover. The prime location, and high quality of both building exterior and unit interiors, have led to strong historical occupancy near, with unit turnovers rented almost immediately, mostly to UC Berkeley graduate students.

Exclusively Listed By

  • Jon A. Holmquist

    Senior Managing Director Investments

    (415) 625-2117

    Email Jon

    License(s): CA: 01257479

    San Francisco

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