1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$4,488,000
Est. payment /mo
0.31 Acres Lot
Save

UPDATED:

Key Details

Property Type Commercial

Listing Status Pending

Purchase Type For Sale

MLS Listing ID ML82057793

HOA Y/N No

Year Built 1960

Annual Tax Amount $84,913

Lot Size 0.310 Acres

Property Description

1430 Josephine Street, a 19-unit, fully occupied multifamily investment opportunity located in one of Berkeley's most desirable rental submarkets. Built in 1960, the property spans 12,288 square feet on a 0.31-acre lot and offers a highly desirable unit mix of fifteen 2-bedroom and four 1-bedroom units, complemented by 12 carport parking spaces. Offered at $4,488,000 ($236,211 per unit / $365 per square foot), the asset is 95% leased and generating a stable 6.03% current cap rate, with in-place rents running approximately 23% below market creating substantial upside for a new owner through natural turnover and lease-up to market rates, projected to reach an 8.99% pro forma cap rate. Individually metered gas and electric help control owner expenses, while the property's infill North Berkeley location provides convenient access to UC Berkeley, major East Bay employers, BART, and I-80. With Berkeley's limited housing supply and consistently strong renter demand, 1430 Josephine Street offers investors a rare opportunity to acquire a stabilized, high-occupancy asset with significant embedded rental growth in a high-barrier-to-entry market.

Location

State CA

County Alameda

Area 699 - Not Defined

Zoning R-2

Interior

Cooling None

Fireplace No

Exterior

Carport Spaces 6

Total Parking Spaces 6

Building

Water Public

Schools

School District Other

Others

Tax ID 059227301301

Special Listing Condition Standard

Read Less Info
CRMLS Full IDX Feed (MAIN Website Search)
Listed by Eymon Binesh Marcus & Millichap #02060059

NEARBY SCHOOL & BUSINESS

MORTGAGE CALCULATOR

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
$
$
%
%
Advanced
Payment
Schedule
Your mortgage payments over 30 years will add up to $0.
Serving Southern California

Customized quick search tools to explore nearby zip codes, cities, and neighborhoods in your favorite destinations

There are 30 quick searches
 
Serving Arizona
Custom Quick Search Tools To Explore Nearby Zip Codes, Cities & Neighborhoods In Your Preferred Destinations
More