Eleven-Unit Apartment
1614 Milvia Street Berkeley, CA 94709
1614 Milvia Street, Berkeley, CA, 94709
$2,700,000
For Sale
$2,700,000
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
Price / SF$401.67
Days on Market8
Property Features for 1614 Milvia Street
General Information
- Standard status
- Active
- Size
- 6,722 SF
- Lot size
- 0.15 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1961
Listing Agency
(415) 345-3000
Listed by
Compass
Source
Xome
Added: Jul 11 Checked: Jul 16 at 3:37 am
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
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $255.7k | $38.04 |
| − Vacancy | −$12.8k | −$1.90 |
| EGI | $242.9k | $36.14 |
| − OpEx | −$109.3k | −$16.26 |
| NOI | $133.6k | $19.88 |
6,722 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
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
