8-Units | Gilman District

Investment Overview

Nestled in the desirable Gilman District of Berkeley, 1412-1416 Ninth Street is a well-maintained, 1958-vintage apartment building consisting of two fourplexes on a single lot. This property offers an ideal unit mix with (4) spacious 2-bedroom, 1-bath units and (4) cozy 1-bedroom, 1-bath units, providing a diverse and appealing living arrangement for tenants. On-site amenities include a coin-operated laundry facility, ample storage, and parking for up to 6 vehicles, ensuring convenience and comfort for residents. With a strong income potential, the property generates an average of over $1,991 per month per unit. There is also substantial upside in both gross rents, with a 33% potential increase, and Net Operating Income (NOI), which could rise by 49%. This makes 1412-1416 Ninth Street a promising investment opportunity with plenty of room for growth in rental income. The property has been thoughtfully updated, with over half of the units featuring modern finishes. In addition, extensive capital improvements have been made, including updated bathrooms, new plumbing and electrical systems, roof replacements in 2012 and 2016, new energy-efficient windows, water heaters, and appliances. This property is not only a lucrative income generator but also a turnkey investment in a prime location, just one block away from trendy retail spots like Philz Coffee, Whole Foods, Homeroom, and Funky Elephant, and close to the vibrant 4th Street shopping center.

Investment Highlights

• Diverse Unit Mix: Featuring (4) spacious 2-bedroom, 1-bath units and (4) cozy 1-bedroom, 1-bath units.
• Strong Income Potential: Each unit generates over $1,991/month in average income, with an additional 33% potential upside in gross rents and a 49% increase in Net Operating Income (NOI).
• Individual Meters: Separate water, gas, and electric meters for each unit, helping to keep operating costs efficient and manageable.
• Tenant-Friendly Amenities: Enjoy the convenience of coin-operated laundry, secure storage, and parking for up to 6 vehicles.
• Prime Location: Nestled in the highly sought-after Gilman District, just one block from the vibrant Westbrae neighborhood and within walking distance to popular retail spots such as Philz Coffee, Whole Foods, Homeroom, Funky Elephant, and the 4th Street shopping center.
• Updated Interiors: Over half of the units have been beautifully renovated with contemporary finishes.
• Extensive Capital Improvements: A wide range of recent upgrades, including modernized bathrooms, updated electrical systems, new plumbing, roof replacements (2012 & 2016), energy-efficient windows, new water heaters, a French drain system, and brand-new appliances. (See disclosures for full details.)