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$ 1,750,000
Est. payment | /mo
7,400 Sqft Lot
$ 1,750,000
Est. payment | /mo
7,400 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Elmwood
MLS Listing ID 41135687
HOA Y/N No
Year Built 1935
Lot Size 7,400 Sqft
Property Sub-Type Apartment
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
Zoning R-2
Interior
Heating Electric
Cooling None
Fireplace No
Appliance Dryer, Washer
Exterior
Total Parking Spaces 6
Others
Tax ID 54170926
Listed by Joey Wang Keller Williams Realty #01890931
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