ENDVEST is pleased to offer a $30,000,000 JV Equity investment opportunity to capitalize on three (3) development projects comprised of 298-units the San Francisco, California Bay Area. The projects are all located within a mile of each other in El Cerrito, CA, just north of Berkeley, currently the fastest market in the Bay Area according to OneRent.
New studio, 1 and 2 bedroom units will be at less than half the rates in San Francisco and will offer beautiful skyline of the city, garages, bike storage, fitness centers, party rooms, and best of all, walking distance to BART that is a 31-minute ride to San Fran and only a 10-minute ride to UC Berkeley campus.
The lack of sufficient housing in the Bay Area has created an unprecedented spike in rental rates in San Francisco making it very difficult for even well-paid tech staff to afford reasonable and safe rentals in the area. Students at UC Berkeley are forced to live up to an hour away from campus because of extreme lack of housing nearby. With entitlements in hand, this investment has minimal risk and tremendous upside because it serves as an effective solution to a severe housing problem: residential units close to BART and other transit options where rents are lower but the space and amenities are abundant.