1507 Prince Street, Berkeley, CA

About 1507 Prince Street

1507 Prince Street is a 13 unit mixed use property located in South Berkeley. The property consists of four retail units that front along busy Sacramento St, and nine apartments within 2 buildings totaling 9,600 square feet (buyer to verify) on a 8,317 square foot parcel. The building on Prince Street features a four bedroom/ 2 bathroom unit upstairs and four - 1 bedroom/1 bathroom units on the ground floor. FANTASTIC IN PLACE RENTAL INCOME WITH ADDITIONAL UPSIDE - In-place rents that are roughly 17% below market rates. Impressive 4.46% cash on cash return assuming interest only financing at 6.875%. WELL MAINTAINED PROPERTY WITH SIGNIFICANT INTERIOR & EXTERIOR RENOVATIONS - Several units have updated flooring, kitchens, bathrooms as well as new appliances. New roof installed on Victorian building on Prince St. POTENTIAL OWNER OCCUPIED OPPORTUNITY - 4 Bedroom 2 Bathroom unit (all of upstairs of Victorian building) provides investor unique opportunity to occupy while offsetting mortgage with remaining rental income. SOUTH BERKELEY LOCATION NEAR TRENDY N.O.B.E. DISTRICT - Just blocks from Ashby BART Station & steps from AC Transit Bus Stops and numerous shops and restaurants. Traffic counts in excess of 20,500 VPD along Sacramento Street. Located in opportunity zone.

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