Search Results

2377 Virginia Street

Home » All Multifamily Properties » California & West » 2377 Virginia Street

Address: 2377 Virginia St, Berkeley, CA 94709, USA

California & West + Apartment Buildings

Created date: February 2, 2024

Date last updated: September 26, 2024

Excellent Unit Mix: The front 4-unit building features (4) 1-bedroom units, while the rear triplex offers (1) 1-bedroom unit and (2) intimate studios.
Two Units Delivered Vacant: The highly coveted owner's unit in the back triplex will be delivered vacant. This unique 1-bedroom/1-bath residence showcases exquisite handcrafted woodwork and two expansive decks that invite abundant natural light.
Strong Cash Flow: Anticipate a projected gross rental income of $14,970 per month when the property is fully occupied, ensuring a lucrative investment opportunity.
Off-Street Parking: 3 tandem off-street parking spaces nestled in the driveway on the right side of the property, ensuring hassle-free parking for residents.
7 Storage Units: The front building boasts 4 cubbies, while the rear triplex features 3 storage closets—all delivered vacant, ready for the new owner’s use.
On-Site Laundry: The new owner can elevate resident convenience with an option to install a dedicated laundry room beneath the owner's unit, complete with available hookups for a seamless laundry experience.
Low Maintenance: With over 40 years of ownership, the current proprietor has undertaken numerous capital improvements, ensuring that the property is poised for a seamless transition to a new owner who will require minimal maintenance.
Cost-Efficient Operations: The property features separate metering for gas and electric, allowing tenants to cover their individual utility costs.
Prime Location: Ideally situated with a walk score of 91, 2377 Virginia Street is a short stroll from UC Berkeley and surrounded by an array of delightful restaurants, shops, and bars, the location adds to the property's allure and convenience.

Property Description

2377 Virginia Street in Berkeley is a rare opportunity for investors looking for a charming 7-unit building in a prime location. The building is located in the desirable Northside neighborhood, just 2 blocks to the most prestigious university, the University of California, Berkeley. The building is situated on a quiet tree-lined street and offers (5) 1 bedroom units and (2) studios many of which have exposed wood giving an extraordinary living experience to tenants. The building comprises a 4-unit in the front and a triplex in the back, 3 tandem off-street parking spaces and unlimited storage options (all delivered vacant). Additionally, the building offers 2 units delivered vacant, one of them being a 1 bed 1 bath owners unit. This unit is a unique and beautiful unit with skylights and handcrafted woodwork in the unit, and has 2 large spacious decks perfect for entertaining. There is an opportunity to create a laundry room under the owners unit as it has plumbing retrofitted for the washer and dryer. The property offers strong in-place cash flow of $14,970 est per month (when 100% occupied) and for extra income there are 7 storage spaces and 3 off street parking spaces all delivered vacant at close of escrow. This property is an attractive investment opportunity for investors looking to own a multifamily property in the sought-after Northside neighborhood just a few steps from CAL.

Unavailable

Request Information

Broker Details

Jatin Mehta

Kite Hill Real Estate (510) 878-6800 MLS ID: R02045713

Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,599,000
No. of Units:	7
Year Built:	1929
Lot Size:	0.14 Sq ft
Opportunity Zone:	No
Price per unit:	$371,286
Property Website	Click Here