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Parker Villa Apartments 2124 Parker St

32 Unit Block of Flats £9,476,170 (£296,130/Unit) 5.50% Net Initial Yield Berkeley, CA 94704

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Investment Highlights

Nearly $500K in Recent Improvements, Including: Full Seismic Retrofit, Brand New Roof, Upgraded Dual Pane Windows, and Resurfaced Parking Lot
Potential to Increase Unit Count Through ADU Conversion of Common Area and Unused Private Garages
CAttractive Interest Only Seller Carry Loan Available at a High LTV

Set on a Massive 20,250 SF Lot, Boasting a 1:1 Off-Street Parking Ratio and On Site, Coin Operated Laundry
Conveniently Located Just a Few Blocks to UC Berkeley & Downtown Berkeley, Shopping, Dining, and More

Executive Summary

The Pinza Group is proud to market The Parker Villa Apartments, a 32 unit multifamily property comprised of thirty 2bd/2bth and two 1bd/1bth, built in 1964. The structure is set on a massive 20,250 SF lot, featuring on site laundry amenities, 1:1 off-street parking, and storage, all of which generate additional income. Current ownership has completed nearly $500K in recent improvements, including: a full seismic retrofit, brand new roof, upgraded dual pane windows, resurfaced asphalt parking lot, and a new wood gate surrounding the property. Three private garages will be delivered vacant, allowing for easy conversion into an ADU. There is significant rental upside and ability for implementation of RUBS, modern remodels, monetization of parking, and more.
Located steps to coveted UC Berkeley, Parker Villa Apartments is "Very Walkable" and a "Biker’s Paradise" according to walkscore.com. The property has easy access to several modes of public transportation including BART and AC Transit Bus lines, and is a short distance to shopping, dining, and other Berkeley amenities.
Email: Info@PinzaGroup.com for a complete marketing package

Property Facts

Price	£9,476,170	Apartment Style	Low Rise
Price Per Unit	£296,130	Building Class	C
Sale Type	Investment	Lot Size	0.46 AC
Net Initial Yield	5.50%	Building Size	32,000 SF
Gross Rent Multiplier	12.5	Average Occupancy	94%
No. Units	32	Number of Floors	3
Property Type	Residential	Year Built/Renovated	1964/2015
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£9,476,170
Price Per Unit	£296,130
Sale Type	Investment
Net Initial Yield	5.50%
Gross Rent Multiplier	12.5
No. Units	32
Property Type	Residential
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.46 AC
Building Size	32,000 SF
Average Occupancy	94%
Number of Floors	3
Year Built/Renovated	1964/2015
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.