Berkeley, CA 94703,1430 Josephine ST
Berkeley, CA 94703,1430 Josephine ST
Berkeley, CA 94703,1430 Josephine ST
Berkeley, CA 94703,1430 Josephine ST
Berkeley, CA 94703,1430 Josephine ST
Berkeley, CA 94703,1430 Josephine ST
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$ 5,280,000
Est. payment | /mo

3 Beds

2 Baths

12,288 SqFt

Save
$ 5,280,000
Est. payment | /mo
Save

3 Beds

2 Baths

12,288 SqFt

Open House

Fri Mar 13, 10:00am - 11:30am

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 12,288 sqft

Price per Sqft $429

Lot Size 0.310 Acres

MLS Listing ID ML82037892

Bedrooms 3

Full Baths 2

Property Description

Marcus & Millichap is pleased to present 1430 Josephine Street is a 19-unit multifamily investment opportunity in Berkeley offered at $5,280,000 ($277,895 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 5.37% to 9.25% as rents are brought to market levels. The property has recently undergone a full electrical service upgrade and seismic retrofit in compliance with Berkeleys 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

1-purchase type For Sale

Exterior

Garage 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 Sale Not Applicable

MLSListings Inc. (MLSListings)
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Listed by Eymon Binesh of Marcus & Millichap
Bought with Eymon Binesh of Marcus & Millichap

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