$4,045,000
$4,250,000
4.8%For more information regarding the value of a property, please contact us for a free consultation.
0.46 Acres Lot
SOLD DATE : 01/12/2020
Key Details
Sold Price $4,045,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 40870749
Sold Date 01/12/20
HOA Y/N No
Year Built 1943
Annual Tax Amount $999
Lot Size 0.460 Acres
Property Description
Over 8% Cap Rate on Market Rents! 4.7% Cap Rate Day 1! 18 units in West Berkeley with huge upside potential. Situated on nearly half an acre and with one to one parking, this property offers tremendous intrinsic value with long term development potential. 968 Addison Street consists of twelve (12) 1-bed 1-bath units and six (6) 2-bed 1-bath units. Six of the units have recently been fully remodeled all the way down to the studs. With a market cap rate of over 8%, this building provides long term upside for future owner. The property is also located in an Economic Opportunity Zone.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Shingle
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Bought with Robert Johnston • Marcus & Millichap