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$2,098,000
Est. payment /mo
8,450 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41087703
HOA Y/N No
Year Built 1958
Lot Size 8,450 Sqft
Property Description
To access the marketing package copy/paste: https://bit.ly/kitehillre. Nestled in the desirable Gilman District of Berkeley, 1412 Ninth Street is a well-maintained, 1958-vintage apartment building consisting of two fourplexes on a single lot. This property offers an ideal unit mix with (4) spacious 2-bedroom, 1-bath units and (4) cozy 1-bedroom, 1-bath units, providing a diverse and appealing living arrangement for tenants. On-site amenities include a coin-operated laundry facility, ample storage, and parking for up to 6 vehicles, ensuring convenience and comfort for residents. With a strong income potential, the property generates an average of over $1,900 per month per unit. There is also substantial upside in both gross rents, with a 20% potential increase, and Net Operating Income (NOI), which could rise by 30%. This makes 1412 Ninth Street a promising investment opportunity with plenty of room for growth in rental income. The property has been thoughtfully updated, with over half of the units featuring modern finishes. In addition, extensive capital improvements have been made, including updated bathrooms, new plumbing and electrical systems, roof replacements in 2012 and 2016, new energy-efficient windows, water heaters, and appliances.
Location
State CA
County Alameda
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Total Parking Spaces 7
Building
Lot Description Corner Lot
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Listed by Jatin Mehta • Real Brokerage Technologies