Berkeley, CA 94702,1436 Derby St

$1,400,000

Est. payment /mo

$1,300,000

7.7%
Est.Price: ?

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1436 Derby St Berkeley, CA 94702

3,944 SqFt

SOLD DATE : 10/16/2023

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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Bridge MLS
Listed by Joey Wang • Keller Williams Realty
Bought with VincentHeung

Jodi Nishimura

Founder & Realtor® | License ID: 01762935

+1(510) 459-0471

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