1716 Rose St Berkeley, CA 94703

Property Details for 1716 Rose St

Year built

1963

Property size

4,251 SF

Property type

Commercial real estate

APN

59-2283-23

Description

This exceptional North Berkeley multifamily property presents a compelling investment opportunity. The two-building complex, constructed in 1963, encompasses 4,251 square feet on a 7,035 square foot lot and features five units: a spacious two-bedroom, one-bathroom unit (convertible to four bedrooms), two charming one-bedroom, one-bathroom units with high ceilings, and two large three-bedroom, two-bathroom units. Each unit averages 850 square feet of living space. Currently operating as a successful medium-term furnished rental, the property boasts 100% occupancy and generates a substantial monthly gross income of nearly $20,000, translating to an annual NOI of $144,889 and a 6.04% cap rate. The asking price is $2,398,000, or $479,600 per unit, and $564.10 per square foot. On-site shared laundry facilities enhance tenant convenience. Ideally situated one mile from UC Berkeley, this property benefits from a walk score of 86, a transit score of 62, and a bike score of 86, providing easy access to local amenities. All units are potentially vacant upon sale, offering owner-occupiers the unique opportunity to personalize their living space or select their own tenants. The property's excellent condition and prime location ensure lasting appeal and strong long-term value. The property address is 1716 Rose St, Berkeley, CA 94703. Offers are due Wednesday, October 23rd by noon.