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3028 Colby Street, Berkeley...

Updated Oct 28, 2024

Bay Area RE Investors Acquires Multifamily Property In Berkeley For $2.45M
SOLDMultiFamily

Bay Area RE Investors Acquires Multifamily Property In Berkeley For $2.45M

3028 Colby Street, Berkeley, California 94705, United States

$2,450,000

$563/SF

Building Size

4,346 SF

Asset Type

MultiFamily

Closing

Aug 15, 2022

About this deal

AI

A multifamily property located at 3028 Colby Street in Berkeley, CA has been sold. The sale was facilitated by Ramsin Jacob of eXp Realty. The transaction took place on August 16, 2022.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Sale Price: $2,450,000
  • Units: 5
  • Price Per Unit: $490,000
  • Square Footage: 4,346
  • Price Per Square Foot: $564
  • Market: Berkeley, CA

The buyer in this transaction is Bay Area RE Investors, represented by David Young. The seller was Wendy Chen.

The multifamily sale at 3028 Colby Street, Berkeley, California 94705, United States in Berkeley, California sold for $2.5M in 2022. Reported inventory is 4,346 square feet across 5 units, or about 563 per square foot. Ramsin Jacob, David Young, EXP Realty appear on the sale alongside EXP Realty. This page is the Berkeley, California file for the 3028 Colby Street, Berkeley, California 94705, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Berkeley sit in the Market section below. Filter that Berkeley multifamily set by closing date to see what else sold near 3028 Colby Street, Berkeley, California 94705, United States around 2022. Published consideration for 3028 Colby Street, Berkeley, California 94705, United States is $2.5M, dated 2022. Cite this Bay Area RE Investors Acquires Multifamily Property In Berkeley For $2.45M sale when underwriting similar multifamily product around Berkeley, California.

Players

Ramsin Jacob

EXP Realty

Broker

$8.9M

vol

4 deals

Broker

David Young

Buyer

$9.7M

vol

2 deals

Buyer

Berkeley MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $563 per square foot on a published $2.5M for 4,346 square feet (2022).

Visit Ramsin Jacob to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.47%

Cash-on-Cash

-1.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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