1425 Martin Luther King Jr WAY, Berkeley, CA 94709
1425 Martin Luther King Jr WAY, Berkeley, CA 94709
1425 Martin Luther King Jr WAY, Berkeley, CA 94709
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Sharad Gupta

Sharad Gupta

+1(408) 401-1003
Listed by Emil Jellinek, DRE #02242403 • Marcus & Millichap
$1,900,000
Est. payment /mo
8 Beds
4 Baths
3,424 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,424 sqft

Price per Sqft $554

MLS Listing ID BE41153458

Bedrooms 8

Year Built 1898

Lot Size 6,075 Sqft

Property Sub-Type Fourplex

Source Bay East

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

Location

State CA

County Alameda

Area Berkeley Map Area 3

Interior

Heating Wall Furnace

Cooling Other

Flooring Hardwood

Laundry Other

Exterior

Parking Features Parking Area

Garage Spaces 4.0

Roof Type Composition

Building

Lot Description Other

Others

Tax ID 59-2269-27

Special Listing Condition New

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Sharad Gupta
Sharad Gupta

Broker License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA 95054, USA

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