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10/05/16
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In Berkeley, two connected parcels containing apartment buildings with a combined 12 units, sold for a total of $4.26 mil. The deal works out to $355k/unit and $470/sf.
The Mediterranean-style buildings contain all one-bedroom/one-bath updated units, and eight parking spaces. They are located at 1517-1519 Walnut St, north of University Ave and a block east of Shattuck Ave, in the heart of desirable North Berkeley. The property is walking distance to Alice Waters' renowned Chez Panisse restaurant, as well as numerous other restaurants, boutiques, grocers, and entertainment options.
"This transaction demonstrates a continued demand for multifamily inventory in the area and marks one of the largest transactions in the North Berkeley area. With three vacant units, the deal offers excellent upside for the buyer," remarked Grant Chappell, Senior Vice President, NAI Northern California, who was involved with the transaction.
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