Property Overview:
1433 Dwight Way is a multi-family apartment building in Berkeley, CA 94702, built in 1959. The property features 6 units, each with 2 bedrooms and 1 bathroom (one unit includes a bonus room/office), totaling 13 bedrooms, 6 bathrooms, and 4,432 sq. ft. of living space. The building sits on a 6,000 sq. ft. lot and includes off-street parking and a common laundry room.
Neighborhood Highlights:
-
Population & Demographics:
- Community population: 14,250 (15% growth since 2000)
- 51.2% families with children
- Largest age group: 25-34 years (16.83%), followed by 35-44 years (15.89%)
-
Schools:
- Nearby schools: Longfellow Arts and Technology Middle, Washington Elementary, Berkeley Technology Academy
- Average SAT score: 1112 (higher than state average of 975)
-
Crime Rate:
- Personal crime risk: 15.5% (higher than state average of 11.8%)
- Property crime risk: 23% (higher than state average of 10.8%)
-
Job Market:
- 63.5% white-collar jobs, 36.6% blue-collar jobs
- Unemployment rate: 5.8% (higher than state average of 4.7%)
-
Cost of Living:
- Median household income: $48,557
- Average annual spending: $42,137
-
Natural Disaster Risk:
- Low flood risk, low tornado risk, high earthquake risk
-
Weather:
- Average temperature: 45.1°F (January), 74.9°F (July)
- Average rainfall: 28.0 inches/year
- Average snowfall: 0 inches/year
Property Features:
- Six-unit apartment building with remodeled/updated kitchens and baths
- Separate meters for gas and electric, and separate hot water heaters for each unit
- 6-car parking in front of the building
- Common laundry room and rear yard with bike rack
- New exterior paint
- Off-street parking included for tenants
- Water and garbage/recycling included in rent
- Coin-operated laundry on premises
- Unit F: Upper-level, 2 bedrooms + office, 1 bath, large living room, new carpet/flooring planned, kitchen with outside door
Location Benefits:
- Prime West Berkeley location:
- Close to UC Berkeley (~1 mile), University Ave, BART, Berkeley Bowl, Whole Foods, 4th Street Shopping District, Berkeley Marina, and Aquatic Park
- Easy access to Highways I-80, 580, 880
- Near restaurants, cafes, shops, parks, and public transportation
- Nearby parks: Charlie Dorr Mini-Park, Strawberry Creek Park, Becky Temko Tot Park
Investment Opportunity:
- First time on the market in over 30 years
- Pro Forma 10.67 GRM and 5.89% Cap Rate
- Strong rental income and low operating expenses
- Seller may consider carrying back first loan
- Contact listing agents for marketing and disclosure packages