1720 Hearst Ave

Location! Location! Location! 1720 HEARST AVE ... first time on the market in over 40-years ... extremely well-maintained 6-unit apartment building ... Walk-Score = 9.5 out of 10 = a WALKERS DREAM ... 2-blocks to University Ave and Trader Joe's ... across the street from Ohlone Park, Playground and Senior Center ... 3-blocks to BART ... 5-blocks to Berkeley High School and City Hall ... 8-blocks to the NEW computer building at UC Berkeley ... 6-blocks to the Gourmet Ghetto ... this is a very nice part of town that is close to everything! One apartment is vacant and was just updated - see the photos - the other five apartments are in good condition with updated windows ... Apartments are all 2-bedrooms, 1-bath ... CAP-RATES current rents = 4.7%, market rents = 5.7% ... GRM = current rents = 13.4, market rents = 11.8 ... NOI (income) = current rents $103,300, market rents = $125,716 ... Cost per unit = $366,667 ... $ per SQ FT = $530. Current rents average $2,289 per month ... Market rents are about $2,600 per month ... SEE PROFORMA for more details ... Offers reviewed on WEDNESDAY, April 29th at 3pm.