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Listed by Willem Bos • COMPASS
$5,195,000
Est. payment /mo
3 Beds
2 Baths
8,244 SqFt
New
2537 Ellsworth St Berkeley, CA 94704
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Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,244 sqft
Price per Sqft $630
MLS Listing ID EB41113741
Bedrooms 3
Year Built 1965
Lot Size 5,716 Sqft
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
2537 Ellsworth Street represents a fully renovated nine-unit apartment building located just blocks from UC Berkeley. Offered at $5.195m, this asset has benefited from more than $825,000+ in recent (2024) permitted capital improvements, including seven (7) down-to-the-studs unit remodels, new windows, new roof, a secured parking gate, upgraded electrical panels, and fresh interior and exterior paint and finishes. The property features seven (7) spacious 3-BR/2-BA units and two (2) 3-BR/1.5-BA units, all recently updated with modern finishes and high-quality improvements. This building has a gross building area of 8,244 square feet and offers ten (10) garage parking spaces which bring an additional $1,025/month in gross income. It is off the soft-story list, and has passed sewer lateral and SB-721 inspections. This investment provides both stability and upside, with a current cap rate of 6.21% and a current GRM of 10.63. Tenants enjoy walkability to UC Berkeley, Telegraph Avenue, restaurants, cafés, and shopping, as well as easy access to BART and AC Transit. With its prime location, strong occupancy history, and extensive renovations, 2537 Ellsworth Street represents an outstanding opportunity for investors seeking a pride-of-ownership investment.
Location
State CA
County Alameda
Area Berkeley Map Area 9
Interior
Heating Gas
Cooling Other
Flooring Other
Exterior
Exterior Feature Stucco
Parking Features Underground Parking
Garage Spaces 10.0
Roof Type Other
Building
Lot Description Grade - Level
Others
Special Listing Condition New, Not Applicable
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