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1300 Martin Luther King Jr Way 5 Unit Apartment Building $3,350,208 CAD ($670,042 CAD/Unit) 5.36% Cap Rate Berkeley, CA 94709
INVESTMENT HIGHLIGHTS
- Ideal unit mix of (3) 3-Bedroom & (2) 1- Bedroom units
- Located in the heart of Berkeley's Gourmet Ghetto
- Located near the vibrant Shattuck Ave
- On-site laundry
- Located walking distance from UC Berkeley's campus
- Seller Financing Available
EXECUTIVE SUMMARY
Built in 1915, the property at 1300 Martin Luther King Jr. Way in Berkeley comprises five units in one two-story building. The property includes two one-bedroom units and three three-bedroom units and is known for its historical significance as the original home of architect Bernard Maybeck. Located in one of the most desirable neighborhoods in Berkeley, within walking distance of UC Berkeley’s campus, it presents a great investment opportunity for a new owner.
PROPERTY FACTS Under Contract
| Price | $3,350,208 CAD | Property Subtype | Apartment |
| Price Per Unit | $670,042 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.36% | Lot Size | 0.14 AC |
| Sale Condition | 1031 Exchange | Building Size | 4,830 SF |
| Gross Rent Multiplier | 13.07 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1915 |
| Zoning | R-2-A, Berkeley | ||
| Price | $3,350,208 CAD |
| Price Per Unit | $670,042 CAD |
| Sale Type | Investment |
| Cap Rate | 5.36% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.07 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,830 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1915 |
| Zoning | R-2-A, Berkeley |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Sprinkler System
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $3,490 CAD | 430 |
| 3+2 | 3 | $4,816 CAD | 750 |
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Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 060-2447-037-00 | Improvements Assessment | $352,599 CAD |
| Land Assessment | $140,609 CAD | Total Assessment | $493,209 CAD |
PROPERTY TAXES
Parcel Number
060-2447-037-00
Land Assessment
$140,609 CAD
Improvements Assessment
$352,599 CAD
Total Assessment
$493,209 CAD
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1300 Martin Luther King Jr Way
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