$400K Reduction - Delivered 100% VACANT | 1610 Milvia St
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$400K Reduction - Delivered 100% VACANT 1610 Milvia St
8 Unit Apartment Building $3,600,000 ($450,000/Unit) 5.93% Cap Rate Berkeley, CA 94709
Investment Highlights
- Four (4) 2bd/1ba units and four (4) 1bd/1ba units
- 75% of units have been renovated, and seismic retrofit completed in 2015
- Located just two blocks from Shattuck Avenue in the famed Gourmet Ghetto
- Property to be delivered 100% VACANT at close of escrow
- Amenities include eight covered off-street parking spots and an on-site laundry room
- Only 0.5 mi to the UC Berkeley Campus and 0.7 mi to the Downtown Berkeley BART Station
Executive Summary
The Mitchell Warren Team is pleased to present 1610 Milvia Street, a well-maintained 8-unit apartment located just two blocks from Shattuck Avenue in Berkeley's Gourmet Ghetto neighborhood. The property consists of four (4) 2-bedroom, 1-bathroom units and four (4) 1-bedroom, 1-bathroom units built in 1961. The property will be delivered 100% VACANT, providing flexibility for the buyer. The units are individually metered for electricity, gas, AND WATER minimizing the operating expenses. Amenities include eight off-street parking spots, eight storage closets, and an on-site coin-operated laundry facility. Several capital improvements have been completed including a full seismic retrofit in 2017. This highly sought-after location will continue to attract premium tenants and maintain a low vacancy rate.
1610 Milvia Street is ideally located less than two blocks from Shattuck Avenue in Berkeley's Gourmet Ghetto neighborhood. Residents benefit from a range of restaurant choices including Cheeseboard, the Michelin Guide restaurant Chez Panisse, as well as a variety of other restaurants and shopping options. Students will enjoy the close proximity to the UC Berkeley campus just a short walk away. Commuters will appreciate the close proximity of city bus lines and the Downtown Berkeley BART Station allowing access to the entire Bay Area. The property features a 98 Walk Score and is considered a “Walker’s Paradise” by walkscore.com.
1610 Milvia Street is ideally located less than two blocks from Shattuck Avenue in Berkeley's Gourmet Ghetto neighborhood. Residents benefit from a range of restaurant choices including Cheeseboard, the Michelin Guide restaurant Chez Panisse, as well as a variety of other restaurants and shopping options. Students will enjoy the close proximity to the UC Berkeley campus just a short walk away. Commuters will appreciate the close proximity of city bus lines and the Downtown Berkeley BART Station allowing access to the entire Bay Area. The property features a 98 Walk Score and is considered a “Walker’s Paradise” by walkscore.com.
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Hardwood Floors
- Dining Room
- Double Pane Windows
Site Amenities
- Laundry Facilities
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 4 | - | 550 |
2+1 | 4 | - | 750 |
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Walk Score ®
Walker's Paradise (98)
Bike Score ®
Biker's Paradise (97)
PROPERTY TAXES
Parcel Number | 058-2172-004-00 | Improvements Assessment | $1,381,698 |
Land Assessment | $592,156 | Total Assessment | $1,973,854 |
PROPERTY TAXES
Parcel Number
058-2172-004-00
Land Assessment
$592,156
Improvements Assessment
$1,381,698
Total Assessment
$1,973,854
zoning
Zoning Code | R2A, Berkeley |
R2A, Berkeley |
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$400K Reduction - Delivered 100% VACANT | 1610 Milvia St
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