1334 Walnut Street, Berkeley, CA

About 1334 Walnut Street

1334-1336 Walnut St is a 5-unit, value-add apartment community spread across 2 structures totaling 4,382 SF located in the heart of the Gourmet Ghetto District in North Berkeley walking distance from UC Berkeley, the #1 public university in the world. This marks the 1st time that this property has been on the market in 25+ years. 1334 Walnut St is comprised of 4 650 SF 1-bed, 1-bath units, and 1336 Walnut St is a 1,822 SF 5-bed, 2-bath detached house. The structures are situated on a large 9,655 SF lot near the intersection of Walnut St & Rose St. The Property features secured access, a community garden, an on-site coin-operated laundry facility, and 11 secured, off-street parking spaces. In place rents are approximately 40% below projected market rate rent and there is an opportunity for additional income by charging for parking and billing tenants back for common area and master metered utilities upon unit turnover. There is potential to increase the Net Operating Income by 65%. The oversized lot provides an opportunity to increase the unit count by building detached ADUs while retaining parking spaces for the existing units. A Walker's Paradise (95 Walk Score), the property is situated 1 block from Shattuck Ave, The heart of Berkeley's famous Gourmet Ghetto District.

Listing Map