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(408) 425-9359
Real Estate Company
1425 Martin Luther King Jr Way, Berkeley, CA 94709
- $1,900,000
- 8
- BD
- 3,424
- SqFt
Listed by Emil Jellinek, (510) 384-1417 from Marcus & Millichap
(If provided) CoList: from
- List Price
- $1,900,000
- MLS#
- BE41153458
- Status
- ACTIVE
- Sqft. of Residence
- 3,424
- Lot Size
- 6,075
- Listing Area
- Berkeley Map Area 3
Property Description
Marcus & Millichap is pleased to present 1425 Martin Luther King Jr. Way, a fully occupied four-unit apartment property in Berkeley's North Shattuck neighborhood. Built in 1898, the two-story Victorian features four two-bedroom, one-bathroom apartments, each measuring approximately 856 square feet. The building totals 3,424 gross square feet on a 0.14-acre lot. All four apartments are leased, providing an established rental income stream at acquisition. In-place rents average $2,944 per month, compared with an underwritten market rent of $3,300 per unit. Monthly rents range from $2,360 to $3,300, with one apartment already leased at the market rent used in the underwriting. Scheduled gross rent is $141,300 annually, compared with $158,400 at market rents, an increase of $17,100 if the remaining units reach the underwritten market rent. Laundry contributes an additional $1,440 in annual income. The property benefits from a walkable location near the shops and restaurants along Shattuck Avenue. North Shattuck is known for its food and arts cooperatives and its role in the development of California cuisine. Neighborhood destinations include the Cheese Board Collective, Chez Panisse, and Epicurious Garden. AC Transit bus service gives residents another option for getting around Ber
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Additional Information
- Acres
- 0.14
- Amenities
- Other
- Cooling System
- Other
- Days On Market
- Unknown
- Floor Covering
- Hardwood
- Garage Parking
- Parking Area
- Heating System
- Wall Furnace
- Laundry Facilities
- Other
- Living Area
- 3,424
- Lot Description
- Other
- Lot Size
- 6,075
- Neighborhood
- Berkeley Map Area 3
- Numberof Units
- 4
- Roof
- Composition
- Unincorporated Yn
- Yes
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The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Real Estate Company are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.
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