1420 Alcatraz Ave

The property is conveniently located in Southwest Berkeley near the corner of Alcatraz and Sacramento Street. Tenants enjoy having access to the abundant dining, shopping, and entertainment options within close proximity to Downtown Berkeley, Oakland, and Emeryville. The properties’ location boasts a “Walker’s Paradise” walk score of 90. Tenants enjoy access to numerous transportation options with the Ashby BART station located less than a mile away. The property is convenient for commuters with its close proximity to major thoroughfares in the East Bay, and access to Highway 580 from nearby Ashby Ave. On Tuesdays, locals head to South Berkeley’s Farmers Market on Adeline St, just a short 10 minute walk from the property. The property is also located within the highly desirable Berkeley Public School district for K-12, a key decision driver for many renters with children. Berkeley attracts many renters due to its vibrant, urban college-town atmosphere. The submarket is predominantly oriented toward renters, with approximately 60% of households leasing their homes, significantly exceeding the metropolitan average. The presence of the University of California, Berkeley, intensifies competition for available units, as the university enrolls over 42,000 students, but only 7,000 can be accommodated on campus. Additionally, the institution employs more than 1,600 full-time faculty, creating a strong and consistent demand for housing. As of the first quarter of 2025, Berkeley remains one of the most dynamic multifamily submarkets in the region, evidenced by robust construction activity and positive absorption rates. Furthermore, it holds the metro area's highest average rents. Currently, asking rents are 1.3% higher than a year ago, averaging $2,700/ month, the highest in the East Bay.1420 Alcatraz presents a rare opportunity for an investor to purchase a well maintained 8 unit apartment building located in Berkeley, one of the most dynamic multifamily submarkets in the region. Built in 1916 and 1940, the property comprises two buildings on two separate parcels, with a combined square footage of 4,755 square feet on a 10,454 square foot lot. The unit mix offers a variety of apartment unit sizes to attract all types of renters. The front building is split between a 3 bedroom/1 bath house and (4) four separate 1 bedroom/1 bathroom units. The back building holds (3) three units; (1) 2 bedroom, 1 bath unit, (1) 2 bedroom, 2 bath unit, and (1) 1 bedroom, 1 bath unit. Six of the units have been rented for over 5 years creating stable occupancy and cash flow. Additionally, the property features perimeter fencing, on-site laundry facilities, and storage lockers on minimal landscaping. The property has been well maintained by current ownership. The apartment units feature hardwood floors, granite kitchen countertops and modern bathroom fixtures. Unit 1A has been remodeled during current ownership. Unit 2A has new flooring. Several units have had upgrades to the appliances, doors, windows (double pane), and toilets/sinks as needed. The property is in compliance with the City of Berkeley’s E3 Ordinance. The property also collects ancillary income from on-site laundry facilities. There is a small courtyard in the back with a mature orange tree and storage lockers available for tenants. In all, this opportunity will provide a new investor with stable cash flow, additional upside with unit turnover, and revenue growth through annual rent increases in a high demand location.