$1,400,000
$1,300,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
1436 Derby St Berkeley, CA 94702
3,944 SqFt
Key Details
Sold Price $1,400,000
Property Type Commercial
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 3,944 sqft
Price per Sqft $354
Subdivision South Berkeley
MLS Listing ID 41035642
Sold Date 10/16/23
HOA Y/N No
Year Built 1962
Lot Size 3,713 Sqft
Acres 0.09
Property Description
At 3,944 sq. ft. feet, Berkeley’s 1436 Derby St is a 5-unit (4, 2BR/1BA + 1, 1BR/1BA) multifamily that’s ready to print money. Listed at only $1.3MM but with an estimated annual income of $146K, this property offers an exceptional 6.9% CAP—there’s minimal risk to recovering the investment. The building is earthquake-ready, having been removed from Berkeley’s soft-story list, and includes parking and laundry on-site. Each unit comes with its own water heater, as well as its own meter for all utilities, simplifying property management. 3 units are occupied with strong tenants paying near-market rents, while the other 2 will be delivered vacant allowing the new owner to pick their own occupants and set their own rents. Designated as an R1 zone, this part of Southwest Berkeley is primarily residential, improving 1426 Darby’s long-term capital gains prospects. The property comes with solid Bike and Walk Scores (91 and 83 respectively), and is only a 10-minute ride from UC Berkeley.
Location
State CA
County Alameda
Area Berkeley Map Area 8
Rooms
Basement None
Interior
Heating Natural Gas, Wall Furnace
Cooling Ceiling Fan(s)
Flooring Laminate, Tile, Vinyl, Carpet
Fireplace No
Appliance Gas Water Heater
Laundry 220 Volt Outlet, In Unit
Exterior
Utilities Available Individual Electric Meter, Individual Gas Meter
Building
Lot Description Level, Front Yard, Paved
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 5417358
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with VincentHeung