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DESCRIPTION

2252 Parker Street is a 12-unit apartment building centrally located in South Berkeley, just six blocks from The University of California, Berkeley, the number one public university in the world. Delivered to investors and 1031 exchange buyers, this asset features 12 X two-bedroom, one-bathroom units. Built in 1970, the 10,449 sq. ft., four story structure is situated near the corner of Parker Street and Ellsworth Street on a 6,559 sq. ft. lot. The property features a secured parking garage containing 12 parking spaces, most of which are covered, and an on-site, coin operated laundry facility. The current in place rent is roughly 38% below market rate and provides the opportunity to increase the net operating income by nearly 105% by stabilizing the asset over the long-term.

KEY DETAILS
  • Price:
  • $3,950,000
  • Bedrooms:
  • 0
  • Full Baths:
  • 0
  • Square Footage:
  • 10,449
  • Acreage:
  • 0.15
  • Year Built:
  • 1970
  • MLS #:
  • 40861564
  • Street Address:
  • 2252 Parker Street
  • City:
  • Berkeley
  • State:
  • CA
  • Postal Code:
  • 94704
  • County:
  • Alameda
  • Area:
  • Berkeley Map Area 4
  • Listing Status:
  • For Sale - Pending Show for Backups

Building

  • Age Of Dwelling:
  • 49
  • Ease Of Access:
  • Elevator
  • Exterior Features:
  • Dual Pane Windows, Stucco, Wood Frame, Other, Siding - Stucco
  • Flooring:
  • Linoleum, Partial Carpeting, Tile, Other
  • Miscellaneous Features:
  • Balcony/Patio, Elevator, Security Building
  • Number Of Units:
  • 12
  • Total Building Square Footage:
  • 10449
  • View:
  • Bay, Bay Bridge, Hills
  • Year Built:
  • 1970

Business

  • Annual Rental Income:
  • 310932
  • Net Operating Income:
  • 178126

Land

  • Conforms To Zoning:
  • R-2a
  • Lot Description:
  • Regular
  • Lot Square Footage:
  • 6559

Listing

  • For Sale Or Lease?:
  • For Sale
  • Previous Listing Price:
  • 3950000

Money

  • Price Per Square Foot:
  • 378.00
  • Tenant Pays:
  • Cable Tv, Electric, Gas

Structures

  • Parking Description:
  • Covered Parking, Garage Parking, Int Access From Garage, Security Garage, Spaces - Assigned, Space Per Unit - 1
  • Parking Spaces:
  • 12

Systems

  • Equipment:
  • Dryer, Fire Alarm System, Intercom, Washer, Water Heater Gas, Other
  • Heating:
  • Gas, Wall Furnace
  • Laundry:
  • Coin Operated, Dryer, In Laundry Room, Laundry Equip - Owned, Washer
  • Water/Sewage:
  • Sewer System - Public, Water - Public

Source

  • Listing Provided By Keith Manson of Cbre (: 01490046)

    EBRDI
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SCHOOL RATINGS

No school information available.

NOTES

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