Berkeley, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of a six apartment building portfolio in North Berkeley, California. Steven Pinza, Esq (the 2014 & 2015 Top Sales Broker in the East Bay according to CoStar), President of The Pinza Group (the 2014 & 2015 Top Multifamily Sales Brokerage in the East Bay according to CoStar) represented the Buyer and Seller in the transaction, which Pinza sold off market. The 33 units sold for $9,600,000, which represented a sub 4% cap rate for all properties.
2339 Hilgard Ave consists of nine studios and six 1bd/1bth units, 2421 Hilgard Ave consists of four 1bd/1bth units, 1674 Euclid Ave consists of three 1bd/1bth, one studio, and one 2bd/1bth, 1538 Arch St consists of five 2bd/1bth, one studio, and one 1bd/1bth, 1188 Arch St is a 2bd/2bth single family home, and 1192 Arch is a duplex with 2bd/1bth units.
Year to date Pinza has sold 48 residential income buildings, which is more than double any other real estate broker in the East Bay. “I was honored to compete and win the listings against larger real estate companies. The Sellers knew that they needed someone with a track record in Berkeley and who knew the market, and it worked out well for them” Pinza stated. “We received a ton of interest, and I was able to put the properties in escrow within a week of having the listings” Concluded Pinza.
North Berkeley stands as one of the most desirable neighborhoods in the East Bay. Million-dollar homes cover the hills in styles inspired by early 20th-century architecture. Located along the northern border of the University of California, North Berkeley caters more to residential family life, while more students live on the southside. Despite the thousands of students attending school on a daily basis, North Berkeley remains a quiet neighborhood with a small-town character.