1734 Spruce Street

Berkeley, CA 94709

$2,950,000
Last Sold Price
Beds
4,349 Sq. Ft.
$678 / Sq. Ft.
4,349
Sq. Ft.
$678
per Sq. Ft.

Description

TOUR THURSDAY 10/22 - 10-12:30 BY APT ONLY - PLS CALL AGENT TO SET TIME The 1734 Spruce Street Apartments offer investors the opportunity to acquire a turn-key, superbly situated property with little deferred maintenance and significant upside in a premier Berkeley location. The current owners have invested significant capital, approx. of $800k, into the asset over the course of the last few years. Plans are approved by the City of Berkeley for the conversion of units #1 & #2 from studio and 1 bedroom...TOUR THURSDAY 10/22 - 10-12:30 BY APT ONLY - PLS CALL AGENT TO SET TIME The 1734 Spruce Street Apartments offer investors the opportunity to acquire a turn-key, superbly situated property with little deferred maintenance and significant upside in a premier Berkeley location. The current owners have invested significant capital, approx. of $800k, into the asset over the course of the last few years. Plans are approved by the City of Berkeley for the conversion of units #1 & #2 from studio and 1 bedroom apartments to 1 bedroom and 2 bedroom units respectively. Located less than one block from UC Berkeley and a short walk from Downtown Berkeley BART, this property will attract students and young professionals alike. The subject property offers investors a well maintained asset with significant upside.
  1. Listed by Nathaniel Reinke • DRE #01916819 • Keller Williams Realty

Property Details for 1734 Spruce Street

City
BERKELEY
Building Type
5 or More Units
Property Sub Type
5 or More Units
Garage Spaces
0
Total # Parking Spaces
8
LISTING UPDATED: 02/23/2022 09:32 AM

Property Details for 1734 Spruce Street

StatusSold
MLS #40970958
Days on Compass40
Taxes$43,066 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1913
Lot Size0.15 AC / 6,534 SF
CountyAlameda County

Building Information for 1734 Spruce Street

Stories-Residences7Year Built1913Building Size-Lot Size0.15 AC / 6,534 SF

Property Information for 1734 Spruce Street

Features
Feature Details
  • Flooring: Other
Room Details
  • Rooms Total: 0
  • Additional Rooms: Basement - Partial
  • Bathrooms Total Count: 0.0
  • Bathrooms Half: 0
Utility Details
  • Cooling: Other
  • Heating: Steam
  • Water/Sewer: Sewer System - Public, Water - Public
Lot / Property Details
Home Owners Association
  • HOA Amenities: Other
  • HOA Dues: $.00
Property Details
  • Additional Equipment: Individual Electric Meter
  • City Transfer Tax: Yes
  • Exterior: Stucco
  • Lot Description: Regular
  • Lot Sq Ft Apx: 6534
  • Lot Size Square Feet: 6534.0
  • Roof: Other
  • Sq Ft Apx: 4349
  • Stories: 0.0
  • Year Built: 1913
Location Details
  • Directions to Property: Yes
  • FIPS Code: 06001
  • Census Tract: None
  • Printed Neighborhood Rpt: No
  • Board ID: Bridge AOR
Multi Family Information
General Details
  • Units Total: 7
  • Basement: Partial
  • Tenant Pays: Electric, Parking
  • Financial Data Source: Property Manager
Multi Family 5+ Information
Building Details
  • Additional Features-Misc: Other
  • Apx Lot Acres: 0
  • On Site Parking Description: Carports - 2 Or More
  • Tot Ann Oper Exp: 69298.0
  • Total Deposits: 0
Income / Expense Details
  • Annual Exp Year: 69298
  • Annual Gross Sched Income: $201,372
  • Annual Insurance Expense: $3,500
  • Annual License Expense: $7,378
  • Annual Maint Expense: $4,000
  • Annual Mgmt Expense: $0
  • Annual Misc Income: $2,625
  • Annual Rent Income: $3,713
  • Annual Taxes: $43,066
  • Annual Util Expense: $8,654
  • Annual Vacancy: 5962.0
  • Gross Income: $195,410
  • Gross Operating Actual Income: $201,372
  • Gross Rent Multiplier: 14.65
  • Net Operating Income: $126,112
  • Other Annual Expense: $950
Other Financial Information
  • Cap Rate: 4.27
  • Existing Loan: Assumable Clear
  • Ocpnt Req 24 Hr: Yes
Additional Information
Additional Information
  • Fireplace: No

Property History for 1734 Spruce Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1734 Spruce Street

Taxable ValueLand$728,280Additions$2,340,900Total$3,069,180
Tax Record2024$45,807 ($3,817 / month)
Home Facts
Total Finished SqFt4,349 SqFtAbove Grade Finished SqFt4,349 SqFtStories2Lot Size6,436 SqFtStyleMulti-Family Res (5+ Units)Year Built1913CountyALAMEDAAPN58-2181-6

Schools near 1734 Spruce Street

This home is within Berkeley Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - K to 5
Rating
School
Distance
Oxford Elementary School
PublicK to 5

Washington Elementary School
PublicK to 5

Cragmont Elementary School
PublicK to 5

Berkeley Arts Magnet at Whittier School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty, Nathaniel Reinke, DRE #01916819

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.