1430 Josephine Street, Berkeley, CA 94703
List Price: $4.8M
Listing Status: Active
Original List Price: $5.28M
0Days on Market: 36
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1960
Lot Size: 13,500 sq ft
Annual Property Tax: $65,065
MLS Number: ML82037892
About This Property
Marcus & Millichap is pleased to present 1430 Josephine Street is a 19-unit multifamily investment opportunity in Berkeley offered at $4,798,000 ($252,526 per unit). The 12,288-square-foot property sits on an oversized 0.31-acre lot and features a desirable mix of fifteen (15) two-bedroom units and four (4) 1-bedroom units on one of Berkeley's best streets. The asset presents significant value-add potential, with current rents approximately 31% below market. The current rent roll of $41,047 per month offers a clear path to increasing cash flow and value, with the cap rate projected to improve from 6.03% to 10.30% as rents are brought to market levels. The property has recently undergone a full electrical service upgrade and seismic retrofit in compliance with Berkeley's city ordinance, significantly reducing future capital expenditure for a new owner. Located near North Berkeley BART, UC Berkeley, and the Shattuck Avenue corridor, the property benefits from strong tenant demand and long-term rental fundamentals.