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968 Addison St
Berkeley, CA 94710
Multifamily Property For Sale
·
18 Units
Investment Highlights
- Rare West Berkeley Multifamily Asset
- Proximity to Countless Top Employers
- Desirable Tenant Amenities
- Desirable Unit Mix
Executive Summary
968 Addison St presents a rare opportunity to acquire an 18-unit multifamily asset in the thriving city of Berkeley, California. Situated on just under a half-acre of land, the property features approximately 11,480 square feet of gross building area with well-designed one- and two-bedroom floor plans, complemented by private parking and select units offering in-unit washer/dryers. Located just 1.7 miles from the University of California, Berkeley—ranked the number one public university in the nation and fourth globally—the property is also within walking distance of West Berkeley’s iconic Fourth Street commercial corridor, home to numerous high-end shops and eateries. Residents enjoy convenient access to San Francisco and the greater Bay Area, with close proximity to many of the nation’s leading tech employers, including Google, Apple, Meta, IBM, LinkedIn, Microsoft, Intel, Adobe, Cisco, and Yahoo. Driven by Berkeley’s strong employment fundamentals and historically low vacancy rates, this world-class East Bay location makes 68 Addison St a highly attractive rental investment due to its proximity to major employers, transportation corridors, and lifestyle amenities.
Property Facts
| Price Per Unit | $222,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 5.16% | Building Size | 11,480 SF |
| Gross Rent Multiplier | 10.21 | No. Stories | 2 |
| No. Units | 18 | Year Built | 1943 |
| Property Type | Multifamily | Parking Ratio | 1.57/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | N/Av Alameda | ||
| Price Per Unit | $222,000 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 10.21 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 11,480 SF |
| No. Stories | 2 |
| Year Built | 1943 |
| Parking Ratio | 1.57/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | N/Av Alameda |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 625 |
| 2+1 | 2 | - | 736 |
Property Taxes
| Parcel Number | 056-1971-005-01 | Improvements Assessment | $2,301,000 |
| Land Assessment | $1,500,000 | Total Assessment | $3,801,000 |
Property Taxes
Parcel Number
056-1971-005-01
Land Assessment
$1,500,000
Improvements Assessment
$2,301,000
Total Assessment
$3,801,000
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