2124 Parker St - Apartments FOR SALE


Berkeley, CA 94704
$11,995,000 USD
510-725-4775
2124 Parker St, Berkeley, CA for Sale
$11,995,000 USD
Apartments - FOR SALE
1/31
null | 5.5% Cap Rate

2124 Parker St
Berkeley, CA 94704


HIGHLIGHTS

  • Nearly $500K in Recent Improvements, Including: Full Seismic Retrofit, Brand New Roof, Upgraded Dual Pane Windows, and Resurfaced Parking Lot
  • Set on a Massive 20,250 SF Lot, Boasting a 1:1 Off-Street Parking Ratio and On Site, Coin Operated Laundry
  • Potential to Increase Unit Count Through ADU Conversion of Common Area and Unused Private Garages
  • Conveniently Located Just a Few Blocks to UC Berkeley & Downtown Berkeley, Shopping, Dining, and More
  • CAttractive Interest Only Seller Carry Loan Available at a High LTV

OVERVIEW

The Pinza Group is proud to market The Parker Villa Apartments, a 32 unit multifamily property comprised of thirty 2bd/2bth and two 1bd/1bth, built in 1964. The structure is set on a massive 20,250 SF lot, featuring on site laundry amenities, 1:1 off-street parking, and storage, all of which generate additional income. Current ownership has completed nearly $500K in recent improvements, including: a full seismic retrofit, brand new roof, upgraded dual pane windows, resurfaced asphalt parking lot, and a new wood gate surrounding the property. Three private garages will be delivered vacant, allowing for easy conversion into an ADU. There is significant rental upside and ability for implementation of RUBS, modern remodels, monetization of parking, and more. Located steps to coveted UC Berkeley, Parker Villa Apartments is "Very Walkable" and a "Biker’s Paradise" according to walkscore.com. The property has easy access to several modes of public transportation including BART and AC Transit Bus lines, and is a short distance to shopping, dining, and other Berkeley amenities. Email: Info@PinzaGroup.com for a complete marketing package

FOR SALE DETAILS

PRICE

$11,995,000 USD

PRICE/SF

$375 USD /SF

# OF UNITS

32

PRICE/UNIT

$374,844

CAP RATE

5.5%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parker Villa Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,251 SF

ZONING

R-2A

APN/PARCEL ID

055-1825-024-01

ASK ABOUT THIS PROPERTY

Steven PinzaPinza GroupMore Info
510-725-4775

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Steven PinzaPinza GroupMore Info
510-725-4775

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