1321-1325 Josephine Street | Berkeley, CA

  • $2,595,000
  • 6,758 Sq/ft


Property Highlights
* Asking Price: $2,595,000
* Eight Units Comprised of One Spacious 3bd/1bth, One 2bd/2bth, Four 2bd/1bth, One 1bd/1bth, and One Studio
* 100% Occupied by Stable & Paying Tenant Base
* Two Parcels Set on a 10,800 SF Lot, Boasting Five 1-Car Garages & Onsite Coin-Operated Laundry
* Current Rents Roughly 40% Below Market Rate - Presenting a Huge Opportunity for Rental Upside Upon Turnover, Capital Improvement Pass Throughs, or Tenant Buy Outs
* Rare Opportunity to Acquire an Asset in One of the SF Bay Area's Most Sought-After Rental Markets
* Prime North Berkeley Location, Near Award-Winning Restaurants, Public Transportation & BART
* Ideal for Owner-Occupants w/ the Option to Fund Eight Units w/ 30-year Fixed Residential Financing
* 8.94% Market Cap & 8.33 Market GRM

Property Summary
Property Type: Multifamily
Asking Price: $2,595,000
Year(s) Built: 1920 & 1954
Number of Units: 8
Price/Unit: $324,375
Rentable SF: 6758
Price/SqFt: $383.99
Cap Rate: 4.18%
Market Cap Rate: 8.94%
GRM: 14.23
Market GRM: 8.33
Parking Ratio: 1:1
Lot Size: 10,800 SF

Property Overview
The Pinza Group, Inc. is pleased to present 1321-1325 Josephine Street, a well-maintained eight unit multifamily property situated in North Berkeley, CA. The buildings feature an ideal unit mix of one spacious 3bd/1bth, five 2bd/1bth, one 1bd/1bth and one studio apartment, built in 1920 & 1954. The property is comprised of two buildings on two separate parcels (APNs 60-2447-26 and 60-2447-27), set on a 10,400 SF lot boasting five off-street 1-car garages, three uncovered parking stalls, and onsite coin-operated laundry for additional income. Current rents are roughly 40% below market rate, providing huge value-add potential through annual adjustments, tenant turnover, and capital improvements. This is a rare opportunity to acquire a fully- occupied asset in one of the SF Bay Area’s most sought-after rental markets, guaranteeing minimal vacancy rates for years to come.

Location Overview
North Berkeley is one of the most sought-after neighborhoods in East Bay and is located along the northern border of the University of California, Berkeley. The neighborhood is a hub for entertainment and gourmet dining, with a myriad of eateries. North Berkley lies just north Downtown Berkeley, six miles north of Downtown Oakland, and 14 miles northwest of San Francisco.




Feel free to contact us for more details!

Steven Pinza

Steven Pinza

The Pinza Group

BRE: 01867691 & CA Bar: 293173