2535 Hillegass Ave - Apartments FOR SALE


Berkeley, CA 94704- Elmwood
$2,895,000 USD
408-909-8629
2535 Hillegass Ave, Berkeley, CA for Sale
$2,895,000 USD
Apartments - FOR SALE
1/40
null | 5.8% Cap Rate

2535 Hillegass Ave
Berkeley, CA 94704
Elmwood


HIGHLIGHTS

  • The Property Comprises Eleven Separate Rentals Across Three Total Buildings
  • One 7bd/4bth Single Family Home w/ Two Attached Studio Apartments, One 2-Story One Bedroom One Bathroom Cottage w/ Den, and One Detached Studio Cabin
  • Prime South Berkeley Location - Walker's Paradise, Short Walk to UC Berkeley and Downtown Berkeley's Best Coffee Shops, Restaurants and Transportation
  • Amenities Include Shared Laundry, Off Street Parking, Serene Outdoor Space w/ Shared Tables, & Fully Furnished Rentals
  • Capital Improvements Include a Seismic Retrofit, Replacement of Exterior Drywall, Updated Electrical Panels

OVERVIEW

This UC Berkeley student rental property comprises 11 separate rentals across three buildings: a large single family home, a two story cottage, and a cabin. Amenities include shared laundry facilities and off-street parking for additional rental income. Each unit is separately metered for PG&E and billed separately for water, with current tenants covering all utilities to help reduce operating expenses for future owners. The well-maintained building boasts several updates, including a seismic retrofit, exterior drywall replacement, and upgraded electrical systems. It also features a large backyard with plenty of space for adding an ADU or exploring other value-add opportunities. Situated in a prime location in South Berkeley, the property is just a short walk from UC Berkeley and the vibrant coffee shops, restaurants, and transportation options in Downtown Berkeley.

FOR SALE DETAILS

PRICE

$2,895,000 USD

PRICE/SF

$623 USD /SF

# OF UNITS

11

PRICE/UNIT

$263,182

CAP RATE

5.8%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

8,002 SF

ZONING

R-3, Berkeley

APN/PARCEL ID

055-1843-019-00

ASK ABOUT THIS PROPERTY

Alec MatutPinza GroupMore Info
408-909-8629

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Alec MatutPinza GroupMore Info
408-909-8629

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