1718 Bancroft Way

Description

Mixed-Use Building Prime Central Location Near Downtown Berkeley with Exceptional Income Potential 

Discover this unique mixed-use property located in the heart of Berkeley. This building offers a combination of residential and commercial spaces, featuring three residential income units on the second level and three commercial/office spaces at street level.

Residential units include two 1-bedroom apartments and a third apartment with one bedroom at the main level, plus a notable feature: a spacious second-level loft accessible by an interior staircase in the unit. The size and presence of this loft allow the unit to function more like a 2-bedroom unit, potentially attracting higher rental income. Apartments feature recent in-unit improvements such as fresh paint, new carpeting, new appliances, and lighting upgrades. 

Directly below units A & B  are vacant commercial/office spaces. This proximity offers a unique convenience for those considering plans for construction, conversion, or build-out of these street-level areas.

The commercial spaces are characterized by tall storefront facades, high ceilings, and abundant natural light. Their flexible layout makes them ideal for a variety of businesses, including office or service-oriented ventures. Notably, the two commercial units facing Roosevelt Avenue share a bathroom and kitchenette and have internal access, presenting an opportunity for a buyer to easily combine them into a larger single commercial space. The third commercial unit is currently occupied by a thriving herbal medicine practice that has been operating at this location since 1990.

While the exact year of construction is not definitively known, historical documents suggest the property was operating as a grocer in 1914. The building clearly showcases the character, charm, and quality craftsmanship typical of the early 1900s. Adding to its distinctive appeal is a striking mural that adorns its north side, providing an eye-catching feature for passers-by.

Parking:

Off-street parking for one vehicle is available on the north side of the building. Street parking is convenient in this predominantly residential neighborhood. Street parking is limited to 2 hours except on weekends, holidays, and vehicles with Permit C. 

Yard and Common Areas:

The northwest side of the property also features a delightful park-like garden. This shared outdoor space includes fruit trees, a maple tree, flowering shrubs, and pleasant seating benches, offering a tranquil oasis.

Other features:

• 5 separate gas meters 

• Laundry machines are coin-operated 

Neighborhood Overview:

The neighborhood has a residential character. Central Berkeley features a mix of historic homes, small apartment buildings, and single-family residences, many dating back to the early 20th century. The neighborhood’s tree-lined streets and architectural variety contribute to its charm.

The area boasts excellent walkability and bikeability, with a WalkScore® of 82 and a BikeScore™ of 97. Public transportation is readily accessible, including the Downtown Berkeley BART station and multiple AC Transit bus lines, facilitating easy commutes throughout the Bay Area.

Residents enjoy close access to the University of California, Berkeley campus, downtown shops, theaters, and a variety of dining options. The neighborhood’s central location makes it convenient for both daily errands and leisure activities.

The neighborhood’s proximity to UC Berkeley brings a wealth of cultural and educational opportunities, including lectures, performances, and exhibitions. Additionally, the area hosts various community events and farmers’ markets.

Investment Summary:

• Price $1,350,000

• Price per square foot $236.75 

• Over 10% Proforma CAP rate - In-Place CAP rate is low due to vacancies 

• Building Class C 

• NOI - $137,752 Projected Income* 

• 3 vacant residential units - 2 vacant commercial/office units - 1 leased office unit 

• Commercial tenant is leased to April 30, 2026

Recent Improvements  

• Unit A: Interior paint, new carpeting, wood floors refinished, vinyl flooring installed in kitchen, replaced appliances, new toilet (2025)

• Unit B:  Interior paint (2026) 

• Unit 1718 - Interior paint, carpeting, kitchen flooring, new kitchen appliances, new lighting  (2026) 

• Building - Partial Roof replacement -  New roof over unit 2302  Roosevelt - New roof added over 1718 Bancroft Way (2026) 

• Building - Termite chemical treatment to the entire property perimeter (2026) 

Property Information:

• APN: 55-1908-5

• Year Built - Unknown 

• Effective Year - 2300 Roosevelt, 1920 - 2302 Roosevelt, 1930, 1718 Bancroft, 1951 (Per sellers) **

• Building Size - 5,813 Sq Ft (per floor plan rendering)

• Parcel Size - 4,494 Sq Ft (per public record)

• Property Type - Commercial 

• Land Use - Commercial / Office / Residential / Mixed Use

• Zoning District R-2

• Contact agent for additional photos of the leased unit and to schedule a showing appointment 

*Neither seller nor listing agent has investigated or verified the accuracy of any of these sources of information, nor do they guarantee any short-term, or increase in future long-term rental income. **Buyer to investigate with the county assessor. Neither seller nor listing agent has verified the accuracy of any of these sources of information.

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