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Steps from the Ashby BART | $155K Reduction! 2930-2932 Adeline St

14 Unit Apartment Building $3,295,000 ($235,357/Unit) 5.62% Cap Rate Berkeley, CA 94703

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Investment Highlights

Consists of eleven (11) 1-bedroom, 1-bathroom units, and three (3) studio units
Features include secured gated access, dual pane vinyl windows, and a community garden
Steps from both Ashby and Shattuck Avenues offering amazing eateries, The Berkeley Bowl, Whole Foods, and more

Excellent in-place cash flow with a 5.31% cap rate and significant rental upside
Features a 93 walk score and is considered a “Walker’s Paradise” by walkscore.com
Less than one block to the Ashby BART station offering complete Bay Area access

Executive Summary

The Mitchell Warren Team is pleased to present 2930 Adeline Street, a 14-unit multifamily asset in a prime South Berkeley location steps from the Ashby BART station. This well-maintained property features a desirable unit mix, consisting of eleven (11) 1-bedroom, 1-bathroom units, and three (3) studio units, making it an attractive option for a variety of tenants. Features include secured gated access, dual pane vinyl windows, and five (5) off-street parking spaces. Tenants will also enjoy the shared yard designed by Professor Owen Lang and his team of students from the Academy of Art. The property’s ideal location will ensure vacancy is kept to a minimum and cash flow strong. Don't miss out on this exceptional opportunity to acquire a stabilized multifamily asset with strong in-place income in one of Berkeley's most soughtafter areas.

Property Facts

Price	$3,295,000	Apartment Style	Low Rise
Price Per Unit	$235,357	Building Class	C
Sale Type	Investment	Lot Size	0.21 AC
Cap Rate	5.62%	Building Size	6,644 SF
Sale Conditions	1031 Exchange	Average Occupancy	92%
Gross Rent Multiplier	10.44	No. Stories	2
No. Units	14	Year Built	1944
Property Type	Multifamily	Parking Ratio	1.05/1,000 SF
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Office Office Residential Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$3,295,000
Price Per Unit	$235,357
Sale Type	Investment
Cap Rate	5.62%
Sale Conditions	1031 Exchange
Gross Rent Multiplier	10.44
No. Units	14
Property Type	Multifamily
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Office Office Residential Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.21 AC
Building Size	6,644 SF
Average Occupancy	92%
No. Stories	2
Year Built	1944
Parking Ratio	1.05/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.