The Spruce Street Six Plex 1739 Spruce St 6 Unit Apartment Building $6,500,000 ($1,083,333/Unit) Berkeley, CA 94709

Sensational Spruce Street Six-Plex!
Set up off the street in North Berkeley is an exceptional property: an impressive complex of three duplexes nestled around a central garden. This property would be rare anywhere in Berkeley, but finding it within just one block of the world-class University of California at Berkeley makes it an incomparable asset that commands exceptional rental rates. While “incomparable” is often used just as hyperbole, in this case this complex is truly that: there will be no obvious “comps” and you will not want to wait for “the next one.” I sold it to the current owner 27 years ago. It been owned by the previous owners for 20+ years. This is a property that savvy investors have added to their portfolios with pride, and held for the long term.
Built in the late 1930s by Irwin M. Johnson, these elegant stucco buildings are architecturally consistent in the Colonial Revival style. The windows sport handsome green shutters, and there are several beautiful balconies. Public records show a total of over 9000 interior square feet on a lot of almost a half an acre in size. Each of the buildings is a unique and spacious duplex, each with its own signature detail. All of the buildings have cedar shake roofs. Electrical service has been upgraded, and unit has separately metered utilities.
Each unit lives like a single-family home, with four of the units occupying two-stories. All six have original hardwood floors, and a truly spacious living room including a gracious fireplace. Many appliances have been upgraded in the kitchens. And each unit has its own laundry facility. Each unit is spacious, occupying between approximately 1300 and 1500 square feet, and most are being used as three bedrooms. There is one even-larger unit, occupying over 1600 sq. ft., being used as four-bedrooms. The buildings were smartly sited, so that each unit has at least some view of the Bay or the campus. There are six garage spaces, which can be made available to occupants, or rented as separate assets.
Occupants enjoy the vibrancy of being in such close proximity to the campus, with a variety of popular cafés, restaurants and shops nearby. With a WalkScoreR of 90, this location is considered A Walker’s Paradise, and it certainly is! Within a half mile to the South you can be in Downtown Berkeley and at a BART station, and Berkeley's impressive Arts District. Head North to the Gourmet District, with an abundance of options for restaurants and shops all along Shattuck Avenue. Public transit is easy from this location.
In a rare circumstance, ALL of the six units are currently vacant and available for viewing. This allows buyers to use the complex for their own purposes, or to choose their own tenants at full market rates.
The many unparalleled aspects of this property, combined with its superb location just one block from campus have resulted in exceptionally low vacancy rates over the years, and remarkably high rental income, with units in constant demand. This truly is an incomparable property!