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Listed by Kevin Obrien • Re/Max Accord
$ 2,200,000
Est. payment /mo
New
1720 Hearst Ave Berkeley, CA 94703
4,154 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,154 sqft
Price per Sqft $529
Subdivision N Berkeley
MLS Listing ID 41131548
HOA Y/N No
Year Built 1961
Lot Size 6,250 Sqft
Property Sub-Type 5 or More Units
Source BAY EAST
Property Description
Location! Location! Location! 1720 HEARST AVE … first time on the market in over 40-years … extremely well-maintained 6-unit apartment building … Walk-Score = 9.5 out of 10 = a WALKERS DREAM … 2-blocks to University Ave and Trader Joe's … across the street from Ohlone Park, Playground and Senior Center … 3-blocks to BART … 5-blocks to Berkeley High School and City Hall … 8-blocks to the NEW computer building at UC Berkeley … 6-blocks to the Gourmet Ghetto … this is a very nice part of town that is close to everything! One apartment is vacant and was just updated – see the photos – the other five apartments are in good condition with updated windows … Apartments are all 2-bedrooms, 1-bath … CAP-RATES current rents = 4.7%, market rents = 5.7% ... GRM = current rents = 13.4, market rents = 11.8 ... NOI (income) = current rents $103,300, market rents = $125,716 ... Cost per unit = $366,667 ... $ per SQ FT = $530. Current rents average $2,289 per month ... Market rents are about $2,600 per month ... SEE PROFORMA for more details ... Offers reviewed on WEDNESDAY, April 29th at 3pm.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Cooling None
Flooring Partial Carpeting, Vinyl
Fireplace No
Building
Lot Description Level, Rectangular Lot
Others
Special Listing Condition Standard
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