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JLee Broker

[email protected] +1(650) 857-1000

Listed by Willem Bos, DRE #02013980 • COMPASS

$4,350,000

Est. payment - /mo

9 Beds

4 Baths

7,891 SqFt

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UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 7,891 sqft

Price per Sqft $551

MLS Listing ID EB41145057

Bedrooms 9

Year Built 1975

Lot Size 3,760 Sqft

Property Sub-Type Five or More Units

Source Bridge MLS

Property Description

2360 Ellsworth St sits one block from the UC Berkeley campus edge in South Berkeley, where demand is driven by enrollment. Seven units and twenty six beds, leased by the bed or by the unit, so ownership runs whichever strategy the market rewards. A 6.60% cap and 9.22 GRM going in at 96% bed occupancy, with rents nearly 10% below market. The kicker: the seller is willing to sign a master lease at $452,092 per year, lifting day one returns to a 7.22% cap and 6.76% cash-on-cash with zero leasing risk, and the owner still keeps $24,272 a year of parking and other income. Collect steady, hands-off income or step in and operate for the upside. The heavy lifting is done: $370,531 of capital invested since 2013, seismic retrofit complete, garage parking, common laundry, renovated quartz kitchens. Offered at $4,350,000, $167,308 per bed.

Location

State CA

County Alameda

Area Berkeley Map Area 9

Interior

Heating Gas

Cooling None

Flooring Laminate, Tile

Laundry In Laundry Room, Laundry Area - In Unit

Exterior

Exterior Feature Stucco

Garage Spaces 7.0

Building

Lot Description Regular

Others

Special Listing Condition New, Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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2360 Ellsworth St Berkeley, CA 94704

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

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