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Available for Purchase
20 One-Bedroom Apartments
Central Berkeley Location
LOCATION: 1931 Dwight Way at MLK
UNIT MIX: 20 one-bedroom
apartments.
DESCRIPTION: This
well located 20-unit apartment building is just seven blocks from the
University of California, less than one block from the Alta Bates Herrick
Hospital facility.
Constructed in 1957, the building features a nearly
new roof, off-street parking, laundry facilities, excellent
between-apartment soundproofing and other amenities.
Six recent vacancies remain unfilled and a buyer will
likely rent at substantially higher rates. These are high demand,
easy-to-lease one-bedroom, one-bath units. Even with the six vacancies
leased at the projected market rate of $1,150 per month, average per unit rent
will still only be about $857.00. Thus, this investment offers great upside
potential.
PRICE:
$2,235,000
CONTACT: Dick Odenheimer, 510.450-1414 | E-Mail
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Projected Investment Schedule
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$208,300.00 |
Projected Annualized Rent |
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- 4,166.00 |
2%
vacancy (est.) |
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$204,134.00 |
Rental Income |
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- 2,000.00
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Business License |
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- 6,500.00
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Insurance |
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- 13,800.00 |
Manager |
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- 18,000.00
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PG&E / EBMUD / Trash |
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- 2,356.00
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Rent Registration |
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- 34,300.00 |
Est. Property Tax to Buyer |
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- 2,500.00
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Repairs & Maintenance |
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$79,456.00 |
Total Estimated Expenses
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$124,678.00 |
Net Operating Income |
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10.73
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GRM |
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5.58% |
Capitalization Rate |
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Rent Roll |
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Unit # |
Income |
Status |
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1 |
$955.00 |
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2 |
$1,150.00 |
Manager |
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3 |
$698.62 |
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4 |
$1,150.00 |
Vacant |
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5 |
$698.62 |
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6 |
$1,150.00 |
Vacant |
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7 |
$900.00 |
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8 |
$776.25 |
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9 |
$698.63 |
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10 |
$1,150.00 |
Vacant |
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11 |
$1,150.00 |
Vacant |
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12 |
$683.10 |
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13 |
$559.22 |
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14 |
$569.76 |
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15 |
$776.25 |
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16 |
$675.00 |
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17 |
$533.56 |
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18 |
$1,150.00 |
Vacant |
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19 |
$1,150.00 |
Vacant |
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20 |
$569.34 |
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Subtotal |
$17,143.35 |
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Laundry |
$100.00 |
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Parking @ $15 |
$115.00 |
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Monthly Total |
$17,358.35 |
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Annualized |
$208,300.20 |
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 If the listing above didn't meet your needs, please take a moment to complete
the Buyer Order Form. You will be provided additional and ongoing info based on your
particular criteria. |
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Sellers and Landlords,
for priority notification of qualified buyers and tenants in your area, sign-up for
E-Alert. |
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All information furnished herein
was provided by sources deemed reliable, but no representation is made or
implied as to the accuracy thereof. All information herein is offered in
good faith, but is subject to errors, omissions, change of price, prior
sale, lease or financing, withdrawal without notice, rental or other
conditions. |
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