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2477 Virginia Street, Berkeley, CA, 94709

2477 Virginia St

$6,950,000

Key Information

Cap Rate
4.05%
$ per SF
$293
Tot. SF
23,686
$ per unit
$289,583
Units
24
Type
Apartments
Occupancy
87.5%
NOI
$281,302

Highlights

• Prime Location | 4.5% Seller Financing Available For 10 Years | 28% Rental Upside
• Positioned just five minutes from UC Berkeley and the iconic Gourmet Ghetto
• Walk Score of 90 and Transit Score of 64
• Currently fully leased, Court Royal generates strong in-place income with meaningful upside through loss-to-lease recapture and incremental rent adjustments to market levels
• With current rents approximately 20-25% below market, investors have the opportunity to unlock additional value through interior renovations and turnover-driven rent growth in this supply-constrained submarket
• 28% RENTAL UPSIDE
• $281,302 NOI
• 4.5% Seller Financing for 10 Years
• 24 Total Units | 23,686 SQFT
• ±14.4 Miles Away from San Francisco, CA

Photos

Location

Agents

Broker of Record

David Harrington

License # 01320460, 02168060 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245