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Listed by Willem Bos • COMPASS
$ 5,525,000
Est. payment | /mo
8,244 SqFt
$ 5,525,000
Est. payment | /mo
8,244 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,244 sqft
Price per Sqft $670
MLS Listing ID 41084589
HOA Y/N No
Originating Board Bridge AOR
Year Built 1965
Lot Size 5,716 Sqft
Property Sub-Type 5 or More Units
Property Description
2537 Ellsworth Street in Berkeley, a turnkey investment with massive renovations in the past year. Situated just blocks from the UC Berkeley campus, 2537 Ellsworth Street offers a rare opportunity to own a fully remodeled nine (9) unit multifamily property in one of the city's most desirable locations. Priced at $5,675,000, this turnkey investment features seven (7) spacious 3-bedroom/2-bathroom units and two (2) 3-bedroom/1.5-bathroom units, all recently updated with modern finishes and high-quality improvements. This property has undergone extensive renovations totaling over $825,000+, including new windows, a secured parking gate, a new roof, and electrical upgrades. With 10 garage spaces and thoughtful capital improvements throughout, it offers both convenience and peace of mind for tenants and investors alike. Located within walking distance of gourmet restaurants, artisan coffee shops, and multiple BART stations, Ellsworth Street combines modern living with urban connectivity. Currently fully occupied by undergraduate students, this property generates strong cash flow with a current in-place cap rate of 5.50%, and a projected market cap rate of 6.58%+
Location
State CA
County Alameda
Interior
Heating Electric
Cooling None
Flooring Vinyl, Wood
Fireplace No
Building
Lot Description Regular
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227