1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
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C$ 4,798,000
Est. payment | /mo

3 Beds

2 Baths

12,288 SqFt

Save
C$ 4,798,000
Est. payment | /mo
Save

3 Beds

2 Baths

12,288 SqFt

Open House

Fri Apr 17, 12:00pm - 1:30pm

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 12,288 sqft

Price per Sqft C$390

Lot Size 0.310 Acres

MLS Listing ID ML82037892

Bedrooms 3

Full Baths 2

Property Description

Marcus & Millichap is pleased to present 1430 Josephine Street is a 19-unit multifamily investment opportunity in Berkeley offered at $4,798,000 ($252,526 per unit). The 12,288-square-foot property sits on an oversized 0.31-acre lot and features a desirable mix of fifteen (15) two-bedroom units and four (4) 1-bedroom units on one of Berkeley's best streets. The asset presents significant value-add potential, with current rents approximately 31% below market. The current rent roll of $41,047 per month offers a clear path to increasing cash flow and value, with the cap rate projected to improve from 6.03% to 10.30% as rents are brought to market levels. The property has recently undergone a full electrical service upgrade and seismic retrofit in compliance with Berkeley's city ordinance, significantly reducing future capital expenditure for a new owner. Located near North Berkeley BART, UC Berkeley, and the Shattuck Avenue corridor, the property benefits from strong tenant demand and long-term rental fundamentals.

Location

State CA

County Alameda

Area Berkeley Map Area 3

Zoning R-2

Interior

Heating Electric

Cooling None

1-purchase type For Sale

Exterior

Garage Assigned Spaces, Covered Parking, Uncovered Parking

Utilities Available Public Utilities

Roof Type Rolled Composition

Building

Foundation Concrete Slab

Sewer Sewer - Public

Water Public

Others

Restrictions None

Tax ID 059-2273-013-01

Security Features None

Special Sale Not Applicable

MLSListings Inc. (MLSListings)
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Listed by Eymon Binesh of Marcus & Millichap
Bought with Eymon Binesh of Marcus & Millichap
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1430 Josephine ST