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Court Royal 2477 Virginia St 24 Unit Apartment Building $7,650,000 ($318,750/Unit) 4.82% Cap Rate Berkeley, CA 94709
Investment Highlights
- Prime North Berkeley Location: Located in the heart of Berkeley’s highly sought-after Northside neighborhood
- Seller Financing Available at 4.50% (Short Term or Long Term)
- Attractive Physical Asset: Built in 1964, the ±25,644 SF building sits on a ±0.29-acre lot, offering 25 secure parking spaces.
- 24-Unit Multifamily Investment: The property caters to a wide tenant base, ensuring steady occupancy and long-term rent growth.
- Value-Add Opportunity: With current average rents approximately 20- 25% below market, investors can capitalize on organic rent growth.
- Favorable Unit Sizes: Large average unit size of ±1,068 SF provides flexibility for future renovations or student-oriented leasing strategies.
Executive Summary
David Harrington
License # 02168060 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
License # 02168060 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $7,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $318,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 4.82% | Building Size | 25,644 SF |
| Gross Rent Multiplier | 14 | No. Stories | 3 |
| No. Units | 24 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 0.97/1,000 SF |
| Property Subtype | Apartment |
| Price | $7,650,000 |
| Price Per Unit | $318,750 |
| Sale Type | Investment |
| Cap Rate | 4.82% |
| Gross Rent Multiplier | 14 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 25,644 SF |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 0.97/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | $1,636 | - |
| 1+1 | 11 | $1,983 | - |
| 2+2 | 6 | $2,385 | - |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (77)
Property Taxes
| Parcel Number | 058-2194-006-00 | Improvements Assessment | $1,010,038 (2025) |
| Land Assessment | $649,310 (2025) | Total Assessment | $1,680,588 (2025) |
Property Taxes
Parcel Number
058-2194-006-00
Land Assessment
$649,310 (2025)
Improvements Assessment
$1,010,038 (2025)
Total Assessment
$1,680,588 (2025)
Contacts
-
Jack Markey -
Chuck Evans -
Jacob Hoggatt -
Ryland Montes De Oca -
Matthews Real Estate Investment Services
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Court Royal | 2477 Virginia St
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