Berkeley, CA – The Pinza Group, Inc, a leading Bay Area Investment Real Estate Sales Brokerage, has announced the sale of a prized rooming house two blocks to UC Berkeley located at 2434 Piedmont Ave. The sales price was $2,375,000, which represents a $395 price per square foot.
Steven Pinza, Esq (a 2014 & 2015 Top Sales Broker according to CoStar), President of the Pinza Group, Inc (a 2014 & 2015 Top Sales Firm according to CoStar), represented the Buyer and Seller in this transaction, which was sold off market. “The Seller of this building reached out to me personally as he saw that I was incredibly active in the Berkeley market. He named his price, and I got it for him.” “says Pinza. “There is a good amount of repairs needed on the property but I have no doubt that the Piedmont House will become an aesthetically appealing property in no time.” adds Pinza.
The Piedmont House was previously used as a short term, affordable living facility. The property boasts 22 rooms of varying sizes, a common commercial kitchen, large common areas and more. The property was delivered vacant, which will allow the new owner to complete renovations and increase rents without having to worry about Berkeley’s horrendous rent control ordinance.
The property is a well maintained building in the Elmwood district, one of Berkeley’s most sought after rental neighborhoods. The subject property is located in between Haste/Dwight, which is considered to be one of Berkeley’s most sought after rental locations; an ideal location for students wanting to be close to the UC Berkeley campus, retail stores, and restaurants.
About The Pinza Group, Inc.
Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 60 apartment sales in the last 24 months. The Pinza Group is an investment real estate brokerage built on a strong foundation of integrity, dedication, and experience which allows us to provide significant value to existing and future clients. Since The Pinza Group focuses exclusively on investment real estate, all of our efforts and resources are spent researching, brokering, and underwriting commercial properties in Northern California. The Pinza Group has devoted significant resources to build an effective list of owners, investors, and brokers in the area which has allowed us to create an innovative marketing platform allowing us to deliver incredible value to both owners and investors. The Pinza Group Property Management, Inc. currently manages over 30 investment properties throughout the East Bay. For more on property management, an estimate of value, or investments visit: www.pinzagroup.com or Info@pinzagroup.com.