1430 Josephine ST, Berkeley, CA 94703
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1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
1430 Josephine ST, Berkeley, CA 94703
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Alan Canas

Alan Canas

+1(415) 298-8940
Listed by Eymon Binesh • Marcus & Millichap, DRE#02060059
$ 4,798,000
Est. payment /mo
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Contingent

1430 Josephine ST Berkeley, CA 94703

3 Beds

2 Baths

12,288 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Contingent

Purchase Type For Sale

Square Footage 12,288 sqft

Price per Sqft $390

MLS Listing ID ML82037892

Bedrooms 3

Full Baths 2

Year Built 1960

Lot Size 0.310 Acres

Property Sub-Type Five or More Units

Property Description

Marcus & Millichap is pleased to present 1430 Josephine Street is a 19-unit multifamily investment opportunity in Berkeley offered at $4,798,000 ($252,526 per unit). The 12,288-square-foot property sits on an oversized 0.31-acre lot and features a desirable mix of fifteen (15) two-bedroom units and four (4) 1-bedroom units on one of Berkeley's best streets. The asset presents significant value-add potential, with current rents approximately 31% below market. The current rent roll of $41,047 per month offers a clear path to increasing cash flow and value, with the cap rate projected to improve from 6.03% to 10.30% as rents are brought to market levels. The property has recently undergone a full electrical service upgrade and seismic retrofit in compliance with Berkeley's city ordinance, significantly reducing future capital expenditure for a new owner. Located near North Berkeley BART, UC Berkeley, and the Shattuck Avenue corridor, the property benefits from strong tenant demand and long-term rental fundamentals.

Location

State CA

County Alameda

Area Berkeley Map Area 3

Zoning R-2

Interior

Heating Electric

Cooling None

Laundry Washer / Dryer

Exterior

Parking Features Assigned Spaces, Covered Parking, Uncovered Parking

Utilities Available Public Utilities

Roof Type Rolled Composition

Building

Foundation Concrete Slab

Sewer Sewer - Public

Water Public

Others

Restrictions None

Tax ID 059-2273-013-01

Security Features None

Special Listing Condition Not Applicable

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Alan Canas

Alan Canas

PRIVATE OFFICE ADVISOR & LICENSED PARTNER | Realtor® | License ID: CA DRE #01793936

+1(415) 298-8940

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1430 Josephine ST