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1626 Francisco St 10 Unit Apartment Building $2,800,000 ($280,000/Unit) 5.80% Cap Rate Berkeley, CA 94703
Executive Summary
Marcus & Millichap is pleased to present 1626 Francisco Street is a 10-unit multifamily property located just blocks from UC Berkeley in one of Berkeley's most desirable rental corridors. The 10,330-square-foot building features a spacious unit mix of two 3-bedroom, 2-bath units and eight 2-bedroom, 1-bath units, along with nine garage parking spaces and on-site laundry. The property is fully occupied and individually metered for gas and electricity. Current rents are approximately 28% below market, presenting a clear value-add opportunity to increase income as units turn. With its large unit sizes, strong tenant demand near campus, and close proximity to North Berkeley BART and the Gourmet Ghetto, 1626 Francisco Street offers investors a well-located Berkeley asset with meaningful upside.
Property Facts
| Price | $2,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $280,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5.80% | Building Size | 9,972 SF |
| Gross Rent Multiplier | 9.7 | Average Occupancy | 95% |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | R2, Berkeley | ||
| Price | $2,800,000 |
| Price Per Unit | $280,000 |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| Gross Rent Multiplier | 9.7 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 9,972 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R2, Berkeley |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 800 |
| 3+2 | 2 | - | 1,200 |
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Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 058-2158-032-01 | Improvements Assessment | $1,298,142 |
| Land Assessment | $690,890 | Total Assessment | $1,989,032 |
Property Taxes
Parcel Number
058-2158-032-01
Land Assessment
$690,890
Improvements Assessment
$1,298,142
Total Assessment
$1,989,032
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1626 Francisco St
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