1610 Milvia St - Apartments FOR SALE


Berkeley, CA 94709
$3,600,000 USD
707-363-2463
1610 Milvia St, Berkeley, CA for Sale
$3,600,000 USD
Apartments - FOR SALE
1/23
null | 5.93% Cap Rate

1610 Milvia St
Berkeley, CA 94709


HIGHLIGHTS

  • Four (4) 2bd/1ba units and four (4) 1bd/1ba units
  • Property to be delivered 100% VACANT at close of escrow
  • 75% of units have been renovated, and seismic retrofit completed in 2015
  • Amenities include eight covered off-street parking spots and an on-site laundry room
  • Located just two blocks from Shattuck Avenue in the famed Gourmet Ghetto
  • Only 0.5 mi to the UC Berkeley Campus and 0.7 mi to the Downtown Berkeley BART Station

OVERVIEW

The Mitchell Warren Team is pleased to present 1610 Milvia Street, a well-maintained 8-unit apartment located just two blocks from Shattuck Avenue in Berkeley's Gourmet Ghetto neighborhood. The property consists of four (4) 2-bedroom, 1-bathroom units and four (4) 1-bedroom, 1-bathroom units built in 1961. The property will be delivered 100% VACANT, providing flexibility for the buyer. The units are individually metered for electricity, gas, AND WATER minimizing the operating expenses. Amenities include eight off-street parking spots, eight storage closets, and an on-site coin-operated laundry facility. Several capital improvements have been completed including a full seismic retrofit in 2017. This highly sought-after location will continue to attract premium tenants and maintain a low vacancy rate. 1610 Milvia Street is ideally located less than two blocks from Shattuck Avenue in Berkeley's Gourmet Ghetto neighborhood. Residents benefit from a range of restaurant choices including Cheeseboard, the Michelin Guide restaurant Chez Panisse, as well as a variety of other restaurants and shopping options. Students will enjoy the close proximity to the UC Berkeley campus just a short walk away. Commuters will appreciate the close proximity of city bus lines and the Downtown Berkeley BART Station allowing access to the entire Bay Area. The property features a 98 Walk Score and is considered a “Walker’s Paradise” by walkscore.com.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$533 USD /SF

# OF UNITS

8

PRICE/UNIT

$450,000

CAP RATE

5.93%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$400K Reduction - Delivered 100% VACANT

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,752 SF

ZONING

R2A, Berkeley

APN/PARCEL ID

058-2172-004-00

ASK ABOUT THIS PROPERTY

Timothy WarrenNAI Northern CaliforniaMore Info
707-363-2463

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Timothy WarrenNAI Northern CaliforniaMore Info
707-363-2463

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.