1700 Le Roy AveBerkeley, CA 94709

Property Details for 1700 Le Roy Ave

Year built

1930

Construction

WOOD

Lot size

0.29 AC

Property size (Sq ft)

14,200 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

58-2198-2

APU

5821982

Description

This exceptional value-add opportunity presents a 15-unit apartment building in Berkeley's coveted Northside/Hilltop neighborhood, just three blocks from UC Berkeley. The 16,950 square foot property, built in 1930, sits on a 12,500 square foot lot and features 16 parking spaces and an on-site laundry facility. Comprised of three stories, the building offers a diverse unit mix including one studio, ten one-bedroom, three two-bedroom, and one four-bedroom unit. Four units are two-story townhomes with private balconies. The average unit size is 848 square feet, with most units featuring formal dining areas offering potential for bedroom additions. With nearly 45,900 students enrolled at UC Berkeley and limited on-campus housing, this property benefits from high demand for student housing. The asking price is $7,260,000, representing a price per unit of $484,000 and a price per square foot of $428.32. The property boasts a 5.82% cap rate and a Net Operating Income (NOI) of $422,438. All units will be vacant by June 1, 2025, presenting a significant opportunity for renovation and repositioning to capitalize on the strong rental market and high demand for student housing near UC Berkeley. The property's location near the university, coupled with the large unit sizes and potential for unit upgrades, creates a compelling investment opportunity. The address is 1700 Le Roy Ave, Berkeley, CA 94709.

• CAP approach

  CAP return

  Valuation

  6%

  $5,986,408

  6.5%

  $5,525,914

  7%

  $5,131,206

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,545,210

  Geo Method

  $6,138,809

• Alternative Use

  Use

  Valuation

  Residential

  $5,525,914

  Hospitality

  $5,061,708

  Educational

  $4,211,282

  Medical

  $4,356,114

  Retail

  $6,550,883

Location Insight

City

Berkeley

County

Alameda

State

California

Latitude

37.8777

Longitude

-122.259

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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