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1425-1427 M.L. King Jr. Way 4 Unit Apartment Building $2,100,000 ($525,000/Unit) 4.46% Cap Rate Berkeley, CA 94709
Investment Highlights
- Ideal unit mix of (4) 2-Bed/1-Bath units
- ADU potential
- Located in the heart of Berkeley's Gourmet Ghetto
- On site laundry
- Off-street parking for all units
- Walking distance to UC Berkeley's campus
Executive Summary
Built in 1898, the property at 1415 Martin Luther King Jr. Way in Berkeley consists of four units within a three-story building, each offering a 2-bedroom, 1bathroom layout. The property is well located in one of Berkeley’s most desirable neighborhoods, within walking distance of UC Berkeley’s campus. Its unit mix, strong rental appeal, and proximity to the university make it an attractive investment opportunity for a new owner
Property Facts
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $525,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.46% | Building Size | 3,424 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 97% |
| Gross Rent Multiplier | 14.86 | No. Stories | 3 |
| No. Units | 4 | Year Built | 1898 |
| Property Type | Multifamily | Parking Ratio | 1.17/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-2A, Berkeley | ||
| Price | $2,100,000 |
| Price Per Unit | $525,000 |
| Sale Type | Investment |
| Cap Rate | 4.46% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14.86 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,424 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1898 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | R-2A, Berkeley |
Amenities
Site Amenities
- Laundry Facilities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $3,125 | 856 |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Biker's Paradise (91)
Property Taxes
| Parcel Number | 059-2269-028-00 | Improvements Assessment | $294,334 |
| Land Assessment | $186,462 | Total Assessment | $480,796 |
Property Taxes
Parcel Number
059-2269-028-00
Land Assessment
$186,462
Improvements Assessment
$294,334
Total Assessment
$480,796
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Videos
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1425-1427 M.L. King Jr. Way
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