2215 Cedar St - Apartments FOR SALE


Berkeley, CA 94709- North Berkeley
$2,500,000 USD
949-929-9562
2215 Cedar St, Berkeley, CA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/28
null | 4.32% Cap Rate

2215 Cedar St
Berkeley, CA 94709
North Berkeley


OVERVIEW

To access marketing package copy/paste: https://bit.ly/kitehillre Tours by Appointment Only - Attractive Unit Mix: This well-balanced property features three spacious 2-bedroom units, three comfortable 1-bedroom units, and one unique 2-bedroom, 1.5-bath unit—ideal for a diverse tenant base. - Extensively Renovated: Recently upgraded throughout with fully permitted improvements including new siding, roof, plumbing, electrical systems, energy-efficient windows, decks, stairs, and tankless water heaters—offering long-term durability and reduced maintenance costs. - Strong Income Performance: Fully leased and currently generating over $15,000 per month in rental income, with an estimated 30% upside in potential rents—an excellent opportunity for both cash flow and appreciation. - Convenient Off-Street Parking: Provides 3 to 5 off-street parking spaces, a valuable amenity that enhances tenant satisfaction and supports strong occupancy. - Onsite Laundry Facility: Coin-operated laundry on premises adds convenience for tenants and generates additional passive income. - Prime North Berkeley Location: Situated in one of Berkeley’s most sought-after neighborhoods—just a short walk to UC Berkeley, local dining, shopping, and public transit— offering exceptional walkability and long-term rental demand. Located at 2215 Cedar Street in the heart of North Berkeley, this property offers an excellent unit mix, consisting of six 1-bedroom units and one spacious 2-bedroom unit. This combination provides a versatile rental opportunity, catering to a range of tenants. Each unit has been extensively renovated, with modern finishes and upgrades that make them highly attractive in today’s market. The improvements, which include new siding, a new roof, plumbing, electrical systems, windows, decks, stairs, and tankless water heaters, were all completed with permits, ensuring quality and compliance. The property is fully occupied and currently generates over $17,000 per month in rental income, with significant upside potential. With an estimated 15% to 20% increase in rents, there is ample room for growth in cash flow. Additionally, the property includes 1:1 off-street parking for tenants, providing convenience and ensuring a hassle-free living experience. Onsite coin-operated laundry facilities are available for tenant use, adding extra value and ease to everyday living. Situated just a short walk from UC Berkeley, 2215 Cedar Street offers an A+ location that is highly sought after by students and professionals alike. The combination of a well-maintained property, strong rental income, and its proximity to the university and local amenities make this property a standout investment opportunity in one of Berkeley’s most desirable neighborhoods.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$311 USD /SF

# OF UNITS

7

PRICE/UNIT

$357,143

CAP RATE

4.32%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,986 SF

ZONING

-

APN/PARCEL ID

059-2256-016-00

ASK ABOUT THIS PROPERTY

Jatin MehtaKite Hill Real EstateMore Info
949-929-9562

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Jatin MehtaKite Hill Real EstateMore Info
949-929-9562

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.