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Listed by Keller Williams Realty
$ 1,750,000
Est. payment | /mo
5,511 SqFt
$ 1,750,000
Est. payment | /mo
5,511 SqFt
Key Details
Property Type Commercial
Sub Type Apt Complex
Listing Status Active
Purchase Type For Sale
Square Footage 5,511 sqft
Price per Sqft $317
Subdivision Elmwood
MLS Listing ID 41135687
HOA Y/N No
Year Built 1935
Lot Size 7,400 Sqft
Property Sub-Type Apt Complex
Source Bridge AOR
Property Description
Pre-war 1935 six-unit apartment building one block off College Avenue, minutes from UC Berkeley, Ashby BART, Rockridge, and the Claremont Hotel, with quick access to Highways 13, 24, and 580. Four 2BR/1BA units plus two 1BR/1BA units across 4,676 rentable SF on a 7,400 SF lot. Three units delivered vacant at closing — immediate releasing on half the building. Units 3 and 4 already leased at $3,400, validating the market rent. Unit 5 captures west-facing Bay views; Unit 6 captures south-facing city views — both unobstructed and private. New roof (2024–2025). Six on-site parking spaces — rentable as a separate income line. $291,667/unit, $317/SF. Current cap 5.96%, market cap 7.47%. Built for a 1031 buyer or local investor who wants Berkeley appreciation paired with immediate operational upside.
Location
State CA
County Alameda
Interior
Heating Electric
Cooling None
Flooring Tile, Vinyl, Carpet
Fireplace No
Appliance Dryer, Washer
Laundry Dryer, In Basement, Washer
Building
Lot Description Back Yard, Front Yard, Paved
Water Public
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Kristin Lanham
REALTOR® | Lic# 01401244