2319 Ward Street - Matt Reigan

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2319 WARD STREET
KW COMMERCIAL - OAKLAND Phone: 415-246-4081 Email: matt.reagan@kw.com DRE# 01938745 MATT REAGAN Agent
BERKELEY, CA 94705 OFFERING MEMORANDUM

Agent

DRE# 01938745

Email: matt.reagan@kw.com

Phone: 415-246-4081

CONFIDENTIALITY AGREEMENT

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, verac-ity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither KW Commercial its directors, officers, agents, advisors, or affliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be veriffed by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or perfor-mance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable go ernmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Studio City in compliance with all applicable fair housing and equal opportunity laws.

2319 WARD ST, BERKELEY, CA 94705 2
MATT REAGAN
KW Commercial - Oakland
2319 WARD ST, BERKELEY, CA 94705 3 TABLE OF CONTENTS 2319 WARD ST, BERKELEY, CA 94705 Executive Summary 4 Property Description Property Summary Property Photos 7 Property Photo Financial Overview 13 Rent Roll Operating Summary Area Highlights 16 Site Attractions

EXECUTIVE SUMMARY

Ward St, Berkeley, CA 94705 | Offering Memorandum
2319

INTRODUCTION:

KW Commercial is pleased to present 2319 Ward Street, a charming 4-plex nestled in Berkeley’s Le Conte neighborhood, a half-mile from both CAL Berkeley and Berkeley Bowl Grocery.

Originally constructed as a Duplex with two flats, the property was converted to four units sometime after 1950, with individual gas and electric meters.

Each unit maintains period details throughout with original built-ins and antique fixtures. The property has on-site laundry, as well as two single garages and a large storage unit in the rear, which allows for additional income and, potentially, future ADU conversion.

• Four 1-bedroom Units

• Dishwashers in each Unit

• One Vacancy

• On-Site Laundry and Storage

• ADU Potential

• 90 Walk Score / 95 Bike Score

2319 WARD ST, BERKELEY, CA 94705 5

PROPERTY SUMMARY

2319 WARD ST, BERKELEY, CA 94705 6
Price Analysis Sales Price $1,249,000 Value Indicators Current Market Cap Rate 4.44% 7.94% GRM 14.16 9.32 Price Per Unit $312,250 Pice Per Sq. Ft. $484.48 Property Overview APN 54-1715-13 Total Units 4 Year Built 1908 Building Area 2,578 Sq Ft Land Area 0.11 Acres 5,000 Sq Ft Stories 2 Parking 2 Garages Zoning R-2 Neighborhood Le Conte Exterior Stucco Foundation Perimeter Concrete Roof Composition Shingle Utilities Provider Paid By Sewer, Water EBMUD Land Lord Gas & Electric PG&E Tenant Garbage Waste Management Land Lord
PROPERTY PHOTOS 2319 Ward St, Berkeley, CA 94705 | Offering Memorandum

PROPERTY PHOTO

2319 WARD ST, BERKELEY, CA 94705

PROPERTY PHOTO

2319 WARD ST, BERKELEY, CA 94705

PROPERTY PHOTO

2319 WARD ST, BERKELEY, CA 94705

PROPERTY PHOTO

2319 WARD ST, BERKELEY, CA 94705

PROPERTY PHOTO

2319 WARD ST, BERKELEY, CA 94705

Ward St, Berkeley, CA 94705 | Offering Memorandum
FINANCIAL OVERVIEW 2319

RENT ROLL

2319 WARD ST, BERKELEY, CA 94705

2319 WARD ST, BERKELEY, CA 94705 14
UNIT UNIT TYPE NOTES APPROX UNIT SF MOVE-IN DATE RENT ANNUAL INCOME RENT / SQ FT RENT ANNUAL INCOME RENT / SQ FT 1 1 br / 1 ba 640 6/1/1980 $802 $9,624 $1.25 $2,600 $31,200 $4.06 2 1 br / 1 ba Vacant 640 $2,600 $31,200 $4.06 $2,600 $31,200 $4.06 3 1 br / 1 ba Section 8 640 $1,950 $23,400 $3.05 $2,600 $31,200 $4.06 4 1 br / 1 ba 640 10/1/2018 $1,735 $20,820 $2.71 $2,600 $31,200 $4.06 TOTALS 5 2,560 $7,087 $85,044 $2.77 $10,400 $124,800 $4.06

OPERATING SUMMARY

2319 WARD ST, BERKELEY, CA 94705

ANNUALIZED OPERATING SUMMARY

*BUSINESS LICENSE TAX 1.081% FOR LEGACY TENANT & SECTION 8, 2.88% FOR MARKET RATE UNITS

2319 WARD ST, BERKELEY, CA 94705 15
Current Current Current Pro-Forma Pro-Forma Pro-Forma INCOME Annual Per Month Per Unit Annual Per Month Per Unit Gross Rent Income $85,044 $7,087 $21,261 $124,800 $10,400 $31,200 Garage Income $2,400 $200 $600 $8,400 $700 $2,100 Laundry Income (owned) $750 $63 $188 $750 $63 $188 Vacancy (5%) -$2,551 -$213 -$638 -$3,744 -$312 -$936 EFFECTIVE GROSS INCOME $85,643 $7,137 $21,411 $130,206 $10,851 $32,552 EXPENSES Property Taxes @ 1.3741% $15,622 $1,302 $3,906 $15,622 $1,302 $3,906 Special Assessments $4,269 $356 $1,067 $3,116 $260 $779 Insurance (est) $1,800 $150 $450 $1,800 $150 $450 Trash (est) $1,500 $125 $375 $2,160 $180 $540 Water (est) $1,500 $125 $375 $2,400 $200 $600 Berkeley Rent Board $750 $63 $188 $1,000 $83 $250 Business License * $1,740 $145 $435 $1,950 $162 $487 Maintenance $1,500 $125 $375 $1,500 $125 $375 Reserves $1,500 $125 $375 $1,500 $125 $375 TOTAL EXPENSES $30,182 $2,515 $7,545 $31,048 $2,587 $7,762 Expense Ratio (%EGI) 35.2% 23.8% Expenses Per Square Foot $11.71 $12.04 NET OPERATING INCOME $55,461 $4,622 $99,158 $8,263 VALUE INDICATORS Current Pro-Forma CAP Rate 4.44% 7.94% GRM 14.16 9.32 Price Per Unit $312,250 $312,250 Price Per Sq Ft $484.48 $484.48
AREA HIGHLIGHTS 2319 Ward St, Berkeley, CA 94705 | Offering Memorandum

BERKELEY

Berkeley, California, renowned for its academic excellence and progressive culture, offers a compelling real estate market. The city’s diverse architecture ranges from historic Craftsman homes to modern condos and apartments. Berkeley’s proximity to the University of California, Berkeley, and its vibrant downtown area contribute to its desirability. The city’s commitment to sustainability, abundant green spaces, and cultural attractions make it an attractive destination for real estate investment. With its strong rental market and a thriving community, Berkeley provides opportunities for investors seeking a dynamic and intellectually stimulating environment.

CALIFORNIA

California’s real estate market is renowned for its dynamic nature and diverse opportunities. From the bustling metropolises of Los Angeles and San Francisco to the picturesque coastal towns and scenic mountain regions, the state offers a wide range of properties. California boasts a strong economy, robust job market, and desirable climate, making it a prime destination for real estate investors. With a blend of residential and commercial options, coupled with its cultural richness and natural beauty, California remains an attractive and lucrative market for those seeking real estate ventures.

HEALTHIEST CITIES IN AMERICA

#1 of 228

#1 of 228 HEALTHIEST PLACES TO LIVE IN AMERICA

119,607 POPULATION

$1,886 MEDIAN RENT

$1,111,000 MEDIAN HOME VALUE

$97,834 MEDIAN HOUSEHOLD INCOME

SITE ATTRACTIONS

Tilden Regional Park University of California Botanical Garden Indian Rock Park The Greek Theatre Berkeley Art Museum and Pacific Film Archive
2319 WARD STREET
KW COMMERCIAL - OAKLAND Phone: 415-246-4081 Email: matt.reagan@kw.com DRE# 01938745 MATT REAGAN Agent
BERKELEY, CA 94705 OFFERING MEMORANDUM

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