Eleven-Unit Apartment
For Sale
$2,700,000
Pending
1614 Milvia Street, Berkeley, CA 94709
Built in 1961, this eleven-unit, one-bedroom, one-bath multifamily property includes five units delivered vacant at close.
Property Size6,722 SF
Lot Size0.15 Acres
Days on Market157
Property Features for 1614 Milvia Street
General Information
Standard status
Pending
Size
6,722 SF
Lot size
0.15 Acres
Property subtype
5+ Units / Five or More Units
Additional Details
Multifamily Units
11
Taxes and HOA fees
Annual Taxes
$32,489
Amenities
Covered Parking
No, No, 6722, None, Other
11
Building Details
Year Built
1961
Buildings
1
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Gabriel Manzanares · License #02051583
(415) 794-5804
Source:
Compass
Added: May 19
Changed: Oct 15
Last Checked: Oct 20 at 11:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Investment Insights
Based on property information with market context.
Built in 1961, 1614 Milvia Street is an eleven-unit apartment building with (11) one-bedroom, one-bathroom layouts. The property is designed as an efficient, well-proportioned multifamily asset, and (5) units will be delivered vacant at close of escrow.
The building is located in one of Berkeley’s sought-after residential corridors, just blocks from the UC Berkeley campus, Downtown Berkeley, and the energy of University Avenue. It also offers convenient proximity to Andronico’s Community Market and BART, with nearby dining, retail, and cultural amenities that serve the surrounding area.
The building is located in one of Berkeley’s sought-after residential corridors, just blocks from the UC Berkeley campus, Downtown Berkeley, and the energy of University Avenue. It also offers convenient proximity to Andronico’s Community Market and BART, with nearby dining, retail, and cultural amenities that serve the surrounding area.
Key Highlights
- Eleven‑unit apartment building with (11) 1‑bedroom, 1‑bath units
- Built in 1961; approximately 6,722 sq ft building area
- 5 units will be delivered vacant at close of escrow
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,606
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,672,120
$2.7M
Cap Rate 7%
$1,908,657
$1.9M
Cap Rate 9%
$1,484,511
$1.5M
Market Conditions
NOI Build-Up for 6,722 SF
Gross rent
$255.7K $38.04/SF
− Vacancy
−$12.8K −$1.90/SF
EGI
$242.9K $36.14/SF
− OpEx
−$109.3K −$16.26/SF
NOI
$133.6K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,672,120
Cap Rate 7%
$1,908,657
Cap Rate 9%
$1,484,511
Alternative Uses
Best Use
Apartment 5plus
$1.91M
$1.67M – $2.23M
NOI $133,606 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.60M
$2.27M – $3.03M
NOI $181,978 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
11
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,687
Businesses Nearby
Explore this area
Business Placement
Demographics for 94709, CA
12,514
Population
6,139
Households
2
Avg Household Size
29
Median Age
80%
College-Educated
96%
High-School Grad
0.7 sq mi
ZIP Area
17,877
Density / Sq Mi
$95,223
Median Household Income
$42,958
Median Earnings
$1,988
Median Rent
$1,240,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1961, this eleven-unit, one-bedroom, one-bath multifamily property includes five units delivered vacant at close.
Where is this apartment building located?
The property is located at 1614 Milvia Street Berkeley, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Eleven‑unit apartment building with (11) 1‑bedroom, 1‑bath units; Built in 1961; approximately 6,722 sq ft building area; 5 units will be delivered vacant at close of escrow
