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Listed by Jatin Mehta • Real Brokerage Technologies
$ 2,098,000
Est. payment | /mo
5,346 SqFt
$ 2,098,000
Est. payment | /mo
5,346 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,346 sqft
Price per Sqft $392
MLS Listing ID 41087703
HOA Y/N No
Originating Board Bridge AOR
Year Built 1958
Lot Size 8,450 Sqft
Property Sub-Type 5 or More Units
Property Description
To access the marketing package copy/paste: https://bit.ly/kitehillre. Nestled in the desirable Gilman District of Berkeley, 1412 Ninth Street is a well-maintained, 1958-vintage apartment building consisting of two fourplexes on a single lot. This property offers an ideal unit mix with (4) spacious 2-bedroom, 1-bath units and (4) cozy 1-bedroom, 1-bath units, providing a diverse and appealing living arrangement for tenants. On-site amenities include a coin-operated laundry facility, ample storage, and parking for up to 6 vehicles, ensuring convenience and comfort for residents. With a strong income potential, the property generates an average of over $1,900 per month per unit. There is also substantial upside in both gross rents, with a 20% potential increase, and Net Operating Income (NOI), which could rise by 30%. This makes 1412 Ninth Street a promising investment opportunity with plenty of room for growth in rental income. The property has been thoughtfully updated, with over half of the units featuring modern finishes. In addition, extensive capital improvements have been made, including updated bathrooms, new plumbing and electrical systems, roof replacements in 2012 and 2016, new energy-efficient windows, water heaters, and appliances.
Location
State CA
County Alameda
Interior
Heating Electric
Cooling None
Flooring Hardwood
Fireplace No
Building
Lot Description Corner Lot
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227