Prime South Berkeley Location Near Ashby BART, Shopping, and UC Berkeley
Current Unit Mix of Three 2bd/1bth, Two 1bd/1bth, and One 4bd/2bth ADU
Ability to Add Another 1bd/1bth ADU Simultaneously With a Seismic Retrofit
Fresh Paint, New Roof, New Windows, and Many Other Upgrades
Ability to Cash Flow From Day One of Ownership & Rental Upside Upon Future AGA Increases, Capital Improvement Pass Throughs, or Tenant Buyouts.
Two Units Vacant Provides Maximum Flexibility For Next Owner
Current Cap of 5.34% & Current GRM of 13.03
Property Type: MultiFamily Asking Price: $2,195,000 Year Built: 1963 Number of Units: 6 Price/Unit: $365,833 Rentable SF: 6,100 Price/Rentable SF: $359.84 Cap Rate: 5.34% Market Cap Rate: 7.25% GRM: 13.03 Market GRM: 10.12 Lot Size: 4,880 Sq. Ft.
2915 Harper features a unit mix of three 2bd/1bth units, two 1bd/1bth units and one brand new 4bd/2bth ADU. There is the ability to add another 1bd/1bth ADU which can be done simultaneously with a seismic retrofit. The property has undergone several upgrades including new roof, paint, windows and more. There is on site coin operated laundry, brand new drought resistant landscaping, and more. There is significant rental upside by applying gradual rent increases, capital improvement pass throughs, and/or through buyouts.
2915 Harper Street boasts an incredible location in South Berkeley walking distance to Ashby BART. The property is also walking distance to groceries, eateries, shops, several parks and public transportation. The famed UC Berkeley campus is located only a mile and a half away, making this location highly desirable. Additionally, there are several Regional Parks nearby providing residents with endless opportunities to explore the outdoors. Other points of attraction include Lake Merritt, Oakland Zoo, State Seashores and much more.