NAI Northern California Represents $4.2M Sale of North Berkeley Multifamily Units
BERKELEY, CA – SEPTEMBER 2016 –
NAI Northern California, a member of the world’s premier managed network of commercial real estate firms, announced today that it represented the sale of 1517-1519 Walnut Street in Berkeley, CA. The two connected parcels sold for a combined $4,263,000; at $355k per unit and $470 per SF, this is one of the largest deals in the North Berkeley area.
The Mediterranean-style buildings have a combined 12 1 bed / 1 bath updated units, and eight parking spaces. Located in the heart of desirable North Berkeley, the property is in walking distance to Alice Waters’ renowned Chez Panisse restaurant, as well as numerous other restaurants, boutiques, grocers, and entertainment options.
“This transaction demonstrates a continued demand for multifamily inventory in the area and marks one of the largest transactions in the North Berkeley area. With 3 vacant units, the deal offers excellent upside for the buyer,” remarked Grant Chappell, Senior Vice President, NAI Northern California.
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