2243-2245 Ashby Ave - Apartments FOR SALE


Berkeley, CA 94705- South Berkeley
$3,200,000 USD
415-866-6470
2243-2245 Ashby Ave, Berkeley, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/4
null | 5.71% Cap Rate

2243-2245 Ashby Ave
Berkeley, CA 94705
South Berkeley


HIGHLIGHTS

  • Prime Ashby Avenue location - Walk Score of 93, “Walker’s Paradise”
  • Two buildings on one lot
  • Approved for 2BA/2BA Accessory Dwelling Unit
  • Extensive updates: Roofs updated in 2023, four units renovated, hardwood floor in all units, new exterior paint.
  • Five (5) parking spaces; 7 with tandem; storage space available.
  • Upside income opportunity with parking and storage.

OVERVIEW

Discover a prime investment opportunity in the heart of Berkeley with this fully leased, multi-unit property at 2243-2245 Ashby Avenue, featuring a diverse unit mix and a prime location with a "Walker's Paradise" score of 93. The property consists of two separate buildings with a total of five units including a spacious 6-bed/2-bath (2243 1/2 Ashby), a 3-bed/2-bath (2243 Ashby), a 2-bed/1-bath, and two 1-bed/1-bath units. Significant improvements have been made to ensure the property is in excellent condition, including four of the five units being completely remodeled since 2020 with updated kitchens, bathrooms, floors, and appliances. The property also features roof work on both buildings as of 2023, new exterior paint, and updated hardwood floors in several units. There is additional upside value through approved Accessory Dwelling Unit (ADU) permit and rental charges for parking and storage. 2243 Ashby boasts a large attic available for use and ADU plans are approved for a new 2-bed/2-bath unit in the 2,000 sf basement. The property has 5 side-by-side parking spaces (7 spaces if tandem) and coin operated laundry. This well-maintained and strategically located investment is a rare find. With its impressive rental history, recent renovations, and a clear opportunity for future growth, this is a turnkey asset that promises strong returns for years to come. Don't miss your chance to own a piece of Berkeley's thriving real estate market.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$582 USD /SF

# OF UNITS

5

PRICE/UNIT

$640,000

CAP RATE

5.71%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,319 SF

ZONING

-

APN/PARCEL ID

052-1580-013-00

ASK ABOUT THIS PROPERTY

Michael YoungAiCRE PartnersMore Info
415-866-6470

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Michael YoungAiCRE PartnersMore Info
415-866-6470

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