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1720 Hearst Ave 6 Unit Apartment Building $3,001,328 CAD ($500,221 CAD/Unit) 4.70% Cap Rate Berkeley, CA 94703
Investment Highlights
- First time on the market in over 40-years
- Walkers Dream! 2-blocks to Trader Joes, across from Ohlone Park, 3-blocks to BART, 5-blocks to Berkeley High School and City Hall
- Always easy to rent - current average is $2,289 per month - market rents are around $2,600 per month
- Excellent condition
- Offers reviewed on WEDNESDAY, April 29th at 3pm
- See Proforma for additional info ... 4.7% Cap-Rate at current rents ... 5.7% Cap-Rate at market rents
Executive Summary
Location! Location! Location! 1720 HEARST AVE … first time on the market in over 40-years … extremely well-maintained 6-unit apartment building … Walk-Score = 9.5 out of 10 = a WALKERS DREAM … 2-blocks to University Ave and Trader Joe’s … across the street from Ohlone Park, Playground and Senior Center … 3-blocks to BART … 5-blocks to Berkeley High School and City Hall … 8-blocks to the NEW computer building at UC Berkeley … 6-blocks to the Gourmet Ghetto … this is a very nice part of town that is close to everything! One apartment is vacant and was just updated – see the photos – the other five apartments are in good condition with updated windows … Apartments are all 2-bedrooms, 1-bath … CAP-RATES current rents = 4.7%, market rents = 5.7% ... GRM = current rents = 13.4, market rents = 11.8 ... NOI (income) = current rents $103,300, market rents = $125,716 ... Cost per unit = $366,667 ... $ per SQ FT = $530. Current rents average $2,289 per month ... Market rents are about $2,600 per month ... SEE PROFORMA for more details ... Offers reviewed on WEDNESDAY, April 29th at 3pm.
Data Room Click Here to Access
Property Facts
| Price | $3,001,328 CAD | Apartment Style | Garden |
| Price Per Unit | $500,221 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.70% | Building Size | 4,154 SF |
| Gross Rent Multiplier | 13.4 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1961/2026 |
| Property Type | Multifamily | Parking Ratio | 1.44/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-2A | ||
| Price | $3,001,328 CAD |
| Price Per Unit | $500,221 CAD |
| Sale Type | Investment |
| Cap Rate | 4.70% |
| Gross Rent Multiplier | 13.4 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,154 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2026 |
| Parking Ratio | 1.44/1,000 SF |
| Zoning | R-2A |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 692 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 057-2062-026-00 | Improvements Assessment | $464,986 CAD |
| Land Assessment | $232,915 CAD | Total Assessment | $697,900 CAD |
Property Taxes
Parcel Number
057-2062-026-00
Land Assessment
$232,915 CAD
Improvements Assessment
$464,986 CAD
Total Assessment
$697,900 CAD
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1720 Hearst Ave
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