BERKELEY, CA, June 22, 2016 – The Pinza Group, a 2014 & 2015 Top Sales Brokerage according to CoStar, has announced the sale of another multifamily apartment building in Berkeley: six units on 2112 9th Street. The property sold for $1,020,000 which equates to $170,000 per unit, a much higher than average per door sales price for this area of Berkeley.
Steven Pinza, Esq (a 2014 & 2015 Top Sales Broker according to CoStar), President of the Pinza Group, represented the Buyer and Seller in the transaction which openly marketed for only two weeks.
Centrally located only a few blocks away from the shops and restaurants on Ashby and San Pablo Avenue, 2112 9th St presented a rare and lucrative investment opportunity. These apartments allow for tremendous up-side potential and will continue to be in high demand due to their proximity to the major thoroughfares of University, San Pablo and Ashby Avenues as well as Berkeley centers of commerce. Easy access to public transportation and Bay Area highways makes this an excellent property for commuters. This is a rare opportunity for an investor to acquire a value add building in a strong rental market.
The property consists of four 1bd/1bth units and two studios. Many units have been upgraded over the years with renovations that include new flooring, paint, and amenities. The property has on site laundry, a spacious lot, and is walking distance to a popular nearby park. The property is separately metered for PG&E making this an incredibly low expense building. Further, the property provides a significant amount of current rent which can be raised even further upon turnover.
About The Pinza Group, Inc.
The Pinza Group, Inc was recently named as a 2014 & 2015 Top Real Estate Sales Brokerage by CoStar, and is the only privately held investment real estate brokerage to receive the prestigious award in 2014 & 2015. The Pinza Group is a full service real estate and property management firm located in Walnut Creek, California. Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 70 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 the East Bay. 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.