2334 Browning, Berkeley, CA 94702
Property
Sold April 2024
Listing Agent: Bill Grimason (DRE #00744337) · Listing Office: Winkler Real Estate Group · Contact: 510-528-2200 · Bought with: Jessie Lunsford · Korman & Ng R.E. Services · MLS #41051364 · Source: CRMLS
About this property
Great cash flow from this well maintained and managed 6-plex on a quiet street in the heart of Berkeley’s Poet District. There have been many upgrades to this 1960´s building including installation of double pane windows in all units and a complete remodel of the kitchens and baths in units 1,2,3 and 4. This included new kitchen cabinets, appliances, granite countertops, tile flooring in the kitchens and baths, and refinished hardwood floors in the bedrooms and hallways. Unit 5 also had the kitchen remodeled. New PSL installed 3/1/2024. Off-street parking for all 5 two-bedroom units. Fixed skylights in the bathrooms of units 4 and 5. Low maintenance landscaping, separate PG&E, separate water meters, and laundry room w/ leased coin operated machines. 8 blocks to North Berkeley BART, 3 blocks to West Berkeley’s vibrant restaurant district, 1 1/2 blocks to AC bus that goes to UC Berkeley and BART. 3 blocks to 3 other AC bus lines that go to Berkeley Amtrak and many other destinations. Priced at 11.39 X GRM and a 6.4% cash on cash return initially w/ existing under market rents with the potential of increased cash flow with future tenant turnover. Priced at $440 per sq. ft. & under $280k per unit. This pride of ownership building provides a solid investment for years to come.
Listing description from the April 2024 sale, as reported to CRMLS.
Sale history