8-Units | Gilman District

The Gilman District, located near the desirable Westbrae neighborhood in Berkeley, California, offers a prime opportunity for those looking to invest in a dynamic and growing area. This unique district combines a rich industrial history with a modern, urban atmosphere, making it an ideal location for both residential and commercial development. Situated near major retail and dining destinations, including Philz Coffee, Whole Foods, REI, and The North Face, this area provides convenient access to some of the best shopping and dining experiences that Berkeley has to offer. Just a short distance from the vibrant 4th Street shopping area, the Gilman District enjoys a central location with easy access to everything the city has to offer. This apartment building is strategically located to provide residents with both convenience and an exciting lifestyle. In addition to nearby retail hubs, the district offers access to outdoor recreation, with the Berkeley Marina and nearby parks providing a scenic setting for walking, cycling, and other outdoor activities. The area is well-connected by public transit and major roadways, including easy access to Interstate 80, making it perfect for commuters or anyone who enjoys the blend of urban and natural environments. With its blend of residential and commercial potential, the Gilman District is a highly sought-after location in Berkeley. Whether you're looking to invest in an apartment building that benefits from the area's ongoing development or seeking a place that offers both a thriving local economy and a sense of community, this building offers exceptional potential. Surrounded by well-known brands, local gems, and green spaces, the Gilman District stands out as a place of opportunity and growth for the future. Scores Walk Score - 92 Transit Score - 58 Bike Score - 98Nestled in the desirable Gilman District of Berkeley, 1412-1416 Ninth Street is a well-maintained, 1958-vintage apartment building consisting of two fourplexes on a single lot. This property offers an ideal unit mix with (4) spacious 2-bedroom, 1-bath units and (4) cozy 1-bedroom, 1-bath units, providing a diverse and appealing living arrangement for tenants. On-site amenities include a coin-operated laundry facility, ample storage, and parking for up to 6 vehicles, ensuring convenience and comfort for residents. With a strong income potential, the property generates an average of over $1,991 per month per unit. There is also substantial upside in both gross rents, with a 33% potential increase, and Net Operating Income (NOI), which could rise by 49%. This makes 1412-1416 Ninth Street a promising investment opportunity with plenty of room for growth in rental income. The property has been thoughtfully updated, with over half of the units featuring modern finishes. In addition, extensive capital improvements have been made, including updated bathrooms, new plumbing and electrical systems, roof replacements in 2012 and 2016, new energy-efficient windows, water heaters, and appliances. This property is not only a lucrative income generator but also a turnkey investment in a prime location, just one block away from trendy retail spots like Philz Coffee, Whole Foods, Homeroom, and Funky Elephant, and close to the vibrant 4th Street shopping center.