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| 1615 MLK Jr. Way Berkeley |
| 17-Unit Investment |
| Status |
Sold |
| Price |
$1,750,000 |
| Category |
Commercial |
| Number of Units |
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| Style |
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| Year Built |
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| MLS |
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| Description |
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North Berkeley apartment building. Walking distance to shops, cafes, downtown and UC. Good mix of (17) 1 and 2 bedroom units. Below market rents, major upside rent potential. |
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| Comments |
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| Property Information |
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Building Sq. Ft. |
14478 |
Date Listed |
02/25/03 |
Date Sold |
09/16/03 |
Sale Price |
$1,831,000 |
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Investment Information |
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Price |
$1,750,000 |
Down Payment |
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Loan Amount |
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Current Cap Rate |
0.07 |
Market Cap Rate |
5 |
Current GRM |
10.15 |
Market GRM |
10.2 |
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Scheduled Gross Income |
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Rents |
$172,428 |
Reserve vacancy at |
$5,172 (3%) |
Laundry |
$3,000 |
Parking |
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Net Rental Income |
$170,256 |
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Operating Expenses |
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| Property Taxes |
$29,844 |
| Building Insurance |
$7,691 |
| Rent Registration |
$2,108 |
| Business License |
$1,920 |
| Gas & Electric |
$4,368 |
| Water & Garbage |
$6,288 |
| Total Operating Expenses |
$52,219 |
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Mortgage Calculator
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Exclusive Offering By |
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Kathy Snowden
510.883.7020 office
510.459.3330 cell
510.883.7076 fax
klsnowden@aol.com
Click here to schedule a showing. |
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