1804 10th St
Berkeley, CA 94710
Great location near 4th Street Commerce · Multifamily Property For Sale · 4 Units

Property Showing and Tours of Unit Interiors: 2:30-3:30 pm this Friday March 15th, 2019. For additional information and the complete offering memorandum, contact the exclusive listing agent: Jon Holmquist. 1804 10th Street, Berkeley, CA is a well located fourplex, positioned in a charming garden setting, on a large 7,375 square foot parcel (per property records). The property is located just a few blocks from the bustling Fourth Street corridor of Berkeley to the South and within walking distance to the Gilman / San Pablo commercial district including eateries, breweries, and cafés. The property has three longer term tenants which ensure a low maintenance and management property for the new buyer, with significant rental upside in the income stream upon turnover. Unit 1802 is fully renovated and features a remodeled kitchen and bathroom with new, high-end quartz counter tops, stainless steel appliances, and new flooring. Per property records, the complex was built circa 1943 and features a raised concrete perimeter foundation, with wood frame construction, wood siding, and a modified bitumen roof. All four apartments are well thought out one-bedroom/one bath designs. Each apartment is outfitted with a gas stove, refrigerator, and individual hot water heater. Apartment units are individually metered for PG&E with gas wall heaters, which will ensure that utility expenses for the new owner will remain low. This offering provides a new buyer with the opportunity to acquire a property in one of the most sought-after University towns in America, with an extremely tight rental market that has less than 2% vacancy. The fourplex benefits from eligibility for residential financing with, 30-year fixed rate debt for a qualified buyer, and has solid cash flow, with further room for rental upside upon turnover. The subject property apartment units are in high demand, and easy to rent, due to the superior location, near commerce, entertainment, and retail. Tenants will find it a breeze to commute to the gainful employment, including an easy bike to UC Berkeley, commute via North Berkeley BART, or car to the nearby employment centers of San Francisco or Oakland.