Multifamily

Casa Bonita Apartments

2605 Haste St, Berkeley, CA 94704

Listing Price: $10,500,000

Cap Rate
3.35%
Number of Units
24
Occupancy
97.00%
Price/Unit
$437,500
Price/Gross SF
$552,631.58
Gross SF
19

Investment Overview

Casa Bonita offers investors the rare opportunity to gain an irreplaceably located asset in the supply-constrained Berkeley residential market. Architect John Francis Marshall Jr. designed this three-story, Spanish Colonial apartment building c. 1928. boasting historic, early-century architectural charm. Casa Bonita was listed on both the City of Berkeley’s Historic Landmarks list as well the California State Historic Resource Inventory. Located at 2605 Haste Street, Casa Bonita is considered one of the most architecturally significant and well-maintained properties in Berkeley. Adjacent to “People’s Park and surrounded by UC Berkeley campus properties “Crossroads” Dining Hall, “Cunningham, Towle, Ehrman Residential Complexes” and “Underhill Athletic Field and Parking Structure”. Predominantly student residents are a short two-blocks to the south gate campus, Sproul Hall, and ASUC Student Union. Historically, Berkeley’s constrained housing market drives the rental market. UC Berkeley provides 7,000 school-sponsored beds for some 42,000 graduate and undergraduate students. Built in 1931, Casa Bonita is a three-story structure wood frame and stucco building that offers fantastic views and a quiet secure environment. The building measures approximately 19,599 square feet of building area. Beautiful tile, mansard roof, and third floor bay windows pop Casa’s street appeal. Residents and guests are greeted with a beautiful ornate intercom entry, quaint lobby with elevator, easy access stairwell, and beautiful accented hallways. Rare under-building parking with 15 spaces plus a large bike storage area offer resident security and convenience. The 24-unit residential community offers spacious floor plans throughout. With six (6) studios ranging from approximately 462 to 592 square feet, sixteen (16) one-bedroom units from approximately 520 to 860 square feet and two (2) two-bedroom with loft approximately 1,052 square feet. Interiors are bright and open with high ceilings and hardwood floors. Heating is supplied by a “Cast Iron” Steam Radiator Heating System. Kitchens offer gas and electric ranges and refrigerator, and ample cabinet and counter space. There is an abundance of windows, glass divider doors, walk-in closets, special cabinets and storage offer a quirky cool living environment. Common areas amenities include lobby located elevator, enclosed secured parking, leased laundry machines with two washers and two dryers are near the garage. Building system includes updated hot water heater room, utility room includes 24 individual electric meters and one house meter. Residents pay their units' electricity. Landlord pays for common electricity, water, gas and garbage. A RUBS utility bill back program is in place for newer residents. Storage and office/maintenance rooms offer much needed operational storage. Casa Bonita Apartments presents investors the rare opportunity to acquire an architecturally significant, pride of ownership, professionally owned and operated since 2005 in the highly coveted UC Berkley rental market within walking distance of campus.

Investment Highlights

  • Location Highlights: Pedestrian Neighborhood • Adjacent to Crossroads Dining Commons (Pete's Coffee & The Den) • Adjacent to Underhill Athletic Field and Parking Structure • Adjacent Cunningham, Towle
  • Transit Oriented Neighborhood • Walk Scores 95 • Bike Scores 95 • BART (0.6 miles to DT BART 12 minute walk) • AC Transit • UC Berkeley Bear Shuttle
  • Property Amenities • Intercom Access • Secured Lobby and Garage • Elevator • Secured Parking Garage (15 Spaces) • Secured Bike Storage Area • Leased Laundry Machines (2 x washers, 2 x dryers)
  • Unit Amenities • Elegant Hardwood Floors • High Ceilings • Efficient Kitchens & Cabinet Package • Electric & Gas Oven/Range • Spacious Floor Plans • Unique Living Space

Exclusively Listed By

Multifamily

Casa Bonita Apartments

Listing Price: $10,500,000

Cap Rate
3.35%
Number of Units
24
Occupancy
97.00%
Price/Unit
$437,500
Price/Gross SF
$552,631.58
Gross SF
19

Investment Highlights

  • Location Highlights: Pedestrian Neighborhood • Adjacent to Crossroads Dining Commons (Pete's Coffee & The Den) • Adjacent to Underhill Athletic Field and Parking Structure • Adjacent Cunningham, Towle
  • Transit Oriented Neighborhood • Walk Scores 95 • Bike Scores 95 • BART (0.6 miles to DT BART 12 minute walk) • AC Transit • UC Berkeley Bear Shuttle
  • Property Amenities • Intercom Access • Secured Lobby and Garage • Elevator • Secured Parking Garage (15 Spaces) • Secured Bike Storage Area • Leased Laundry Machines (2 x washers, 2 x dryers)
  • Unit Amenities • Elegant Hardwood Floors • High Ceilings • Efficient Kitchens & Cabinet Package • Electric & Gas Oven/Range • Spacious Floor Plans • Unique Living Space

Investment Overview

Casa Bonita offers investors the rare opportunity to gain an irreplaceably located asset in the supply-constrained Berkeley residential market. Architect John Francis Marshall Jr. designed this three-story, Spanish Colonial apartment building c. 1928. boasting historic, early-century architectural charm. Casa Bonita was listed on both the City of Berkeley’s Historic Landmarks list as well the California State Historic Resource Inventory. Located at 2605 Haste Street, Casa Bonita is considered one of the most architecturally significant and well-maintained properties in Berkeley. Adjacent to “People’s Park and surrounded by UC Berkeley campus properties “Crossroads” Dining Hall, “Cunningham, Towle, Ehrman Residential Complexes” and “Underhill Athletic Field and Parking Structure”. Predominantly student residents are a short two-blocks to the south gate campus, Sproul Hall, and ASUC Student Union. Historically, Berkeley’s constrained housing market drives the rental market. UC Berkeley provides 7,000 school-sponsored beds for some 42,000 graduate and undergraduate students. Built in 1931, Casa Bonita is a three-story structure wood frame and stucco building that offers fantastic views and a quiet secure environment. The building measures approximately 19,599 square feet of building area. Beautiful tile, mansard roof, and third floor bay windows pop Casa’s street appeal. Residents and guests are greeted with a beautiful ornate intercom entry, quaint lobby with elevator, easy access stairwell, and beautiful accented hallways. Rare under-building parking with 15 spaces plus a large bike storage area offer resident security and convenience. The 24-unit residential community offers spacious floor plans throughout. With six (6) studios ranging from approximately 462 to 592 square feet, sixteen (16) one-bedroom units from approximately 520 to 860 square feet and two (2) two-bedroom with loft approximately 1,052 square feet. Interiors are bright and open with high ceilings and hardwood floors. Heating is supplied by a “Cast Iron” Steam Radiator Heating System. Kitchens offer gas and electric ranges and refrigerator, and ample cabinet and counter space. There is an abundance of windows, glass divider doors, walk-in closets, special cabinets and storage offer a quirky cool living environment. Common areas amenities include lobby located elevator, enclosed secured parking, leased laundry machines with two washers and two dryers are near the garage. Building system includes updated hot water heater room, utility room includes 24 individual electric meters and one house meter. Residents pay their units' electricity. Landlord pays for common electricity, water, gas and garbage. A RUBS utility bill back program is in place for newer residents. Storage and office/maintenance rooms offer much needed operational storage. Casa Bonita Apartments presents investors the rare opportunity to acquire an architecturally significant, pride of ownership, professionally owned and operated since 2005 in the highly coveted UC Berkley rental market within walking distance of campus.

Exclusively Listed By

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