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1504-1514 10th St 6 Unit Apartment Building $1,600,000 ($266,667/Unit) 5.49% Cap Rate Berkeley, CA 94710
Investment Highlights
- Ideal unit mix of (6) 1-Bed/1-Bath units
- Just steps way from the vibrant 4th Street shops & restaurants
- Value-add opportunity through rental increases
- Walking distance from North Berkeley BART Station
- Just minutes from UC Berkeley Campus
Executive Summary
The offering presents 1504 10th Street, Berkeley, CA, a well- maintained 6-unit multifamily property comprising 6 1-bedroom, 1-bathroom units. The 3,194 sq. ft. building sits on a 0.20-acre lot and is currently 67% occupied. Built in 1926, the property offers a prime location near UC Berkeley and is within walking distance of restaurants, shops, and public transit. With below-market rents, there is a significant value-add opportunity to increase rents to market rates and improve occupancy. The current rent roll totals $11,627/month, with a pro forma rent roll of $14,400/month, representing a 19% upside. The current cap rate is 5.49%, with a pro forma cap rate of 7.46%, indicating strong potential for future returns.
Property Facts
| Price | $1,600,000 | Apartment Style | Garden |
| Price Per Unit | $266,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.49% | Building Size | 3,194 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 67% |
| Gross Rent Multiplier | 11.47 | No. Stories | 1 |
| No. Units | 6 | Year Built/Renovated | 1929/1963 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-1A, Berkeley - Residential - Apartments | ||
| Price | $1,600,000 |
| Price Per Unit | $266,667 |
| Sale Type | Investment |
| Cap Rate | 5.49% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.47 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 3,194 SF |
| Average Occupancy | 67% |
| No. Stories | 1 |
| Year Built/Renovated | 1929/1963 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R-1A, Berkeley - Residential - Apartments |
Amenities
Unit Amenities
- Storage Space
- Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 059-2311-007-00 | Improvements Assessment | $1,032,284 |
| Land Assessment | $494,190 | Total Assessment | $1,526,474 |
Property Taxes
Parcel Number
059-2311-007-00
Land Assessment
$494,190
Improvements Assessment
$1,032,284
Total Assessment
$1,526,474
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1504-1514 10th St
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