{"id":293,"date":"2021-02-27T04:21:29","date_gmt":"2021-02-27T04:21:29","guid":{"rendered":"https:\/\/blog.ark7.com\/?p=293"},"modified":"2023-05-18T02:12:51","modified_gmt":"2023-05-18T02:12:51","slug":"the-booming-berkeley-real-estate-market","status":"publish","type":"post","link":"https:\/\/ark7.com\/blog\/articles\/the-booming-berkeley-real-estate-market\/","title":{"rendered":"The Booming Berkeley Real Estate Market"},"content":{"rendered":"
\n
<\/div>\n<\/div>\n
\n
\n
\n
\n

\"\"<\/p>\n

Welcome to Berkeley, California where passionate, genuine people come to live and thrive. Located in Alameda County, just across the Bay from San Francisco, Berkeley is one of a kind.\u00a0<\/span><\/p>\n

\"\"
Beautiful view of Berkeley Skyline, including Sather Tower, or Campanile, and International House, with San Francisco Bay in the background.<\/figcaption><\/figure>\n

Berkeley is home to The University of California, Berkeley<\/span> since 1868 and has since become a landmark city for human rights and free speech. The city also hosts beautiful nature sites from the Berkeley Marina to the hiking trails in Berkeley Hills. Not to mention, the city has a high walkability score, so it\u2019s not surprising to see residents out and about, enjoying the beautiful Berkeley weather or strolling down Telegraph Avenue, famous for its eclectic small businesses and vibrant people.\u00a0<\/span><\/p>\n

A simple ride of usually less than half an hour on the Bay Area Rapid Transit, or BART, would get you from Berkeley into the heart of San Francisco. Opportunities abound, as startups like Google, Apple, Netflix and Adobe reside in the surrounding Silicon Valley.<\/span><\/p>\n

\"\"
Downtown Oakland in the background; buildings in UC Berkeley in the foreground; San Francisco bay, California<\/figcaption><\/figure>\n

Not only is Berkeley a thriving market for students, professors and university affiliates, but it is home to many families. There are 28 parks in Berkeley and a highly ranked public school system.\u00a0<\/span><\/p>\n

The market is booming in Berkeley, as according to <\/span>Redfin<\/span><\/a> data, the median sale price in Berkeley has increased by 2.3% year-over-year, the number of homes sold increased by 4.9%, and the median days on market decreased by 3.3%. Berkeley is one of the strongest performing submarkets in the entire San Francisco Bay Area. As one of the strongest performing submarkets in the entire San Francisco Bay Area, Berkeley’s average sale price of multi-family properties has increased 138% over the last ten years.<\/span><\/p>\n

\"\"<\/p>\n

This makes the city a clear seller\u2019s market and as the city continues to <\/span>grow<\/span><\/a> at 36.3% over the next ten years, the market will only continue to bloom. The net rental cap rate in Berkeley for apartments often ranges between 5-6%, a high value for investment returns.<\/span><\/p>\n

\"\"
Bay view from the UC Berkeley Campus<\/figcaption><\/figure>\n

There are a number of reasons why we decided to begin our acquisitions in Berkeley. First, we are located in San Francisco, which allows us to directly manage Berkeley properties. There are also the high rates of historical returns on real estate investments, good property conditions, and a looser rent regulations. The acquired properties also came with existing tenants, meaning dependable cash flow.<\/span><\/p>\n

\"\"<\/p>\n

Meet the Berkeley Properties<\/h2>\n

Berkeley M1<\/h3>\n

Located just a block away from San Pablo Park in South Berkeley, Berkeley M1 was the first property acquired by Ark7. Berkeley M1 is a 5-unit, 10 bedroom, 5 bathroom property with 6 parking spaces. M1 is located at the center of almost every point of interest in the city. It is only 2 miles away from Downtown Berkeley and UC Berkeley\u2019s campus and is less than a mile away from a BART station. It\u2019s a colorful area, with restaurants, coffee shops and local fan-favorite grocery store Berkeley Bowl nearby.\u00a0<\/span><\/p>\n\n\t

\n\t\t
<\/div>\n\t
<\/div>\n\t