The Pinza Group is excited to announce another Berkeley multifamily listing! This property consists of four 1bd/1bth units of 650 square feet, and one 3bd/1bth unit of 1,300 square feet. Three of the units will be delivered vacant at close, allowing the next investor to raise rents to market or put Section 8 into the units to circumvent rent control permanently. The 3bd house has a private two car garage and washer/dryer hookups. All units have dual pane windows, living/dining room, large kitchen, and updated kitchens and bathrooms. The property has mature/lush landscaping, a front, side and back yard, and much more.
The property has a large back yard area perfect for gatherings or to enjoy Berkeley's tranquility. The tenants pay PG&E making this an incredibly low expense building. Further, the unit mix is unbeatable and provides significant amount of current rent, and can be raised even further upon turnover.
Centrally located only a few blocks away from the shops and restaurants on Ashby and San Pablo Avenue, this multifamily property presents a rare and lucrative investment opportunity. These apartments allow for tremendous up-side potential and will continue to be in high demand due to their proximity to the major thoroughfares of University, San Pablo and Ashby Avenues as well as Berkeley centers of commerce. Easy access to public transportation and Bay Area highways makes this an excellent property for commuters. This is a rare opportunity for an investor to acquire a value add building in a strong rental market.
This area is currently being redeveloped by well known developers who seek to take advantage of the cultural and diverse community that makes this location so attractive.The property is in close proximity to 580 and freeways, highway 24 and 13, while still being close enough to downtown Berkeley and the upscale shopping and dining area. Berkeley values have gone up 10.8% over the past year and analysts predict they will rise 2.8% within the next year.
CONTACT STEVEN PINZA, ESQ. FOR A COMPLETE MARKETING PACKAGE
