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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$4,350,000

Est. payment - /mo

3,759 Sqft Lot

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Subdivision South Berkeley

MLS Listing ID 41145057

HOA Y/N No

Year Built 1975

Lot Size 3,759 Sqft

Property Description

2360 Ellsworth St sits one block from the UC Berkeley campus edge in South Berkeley, where demand is driven by enrollment. Seven units and twenty six beds, leased by the bed or by the unit, so ownership runs whichever strategy the market rewards. A 6.60% cap and 9.22 GRM going in at 100% bed occupancy, with rents nearly 10% below market. The kicker: the seller is willing to sign a master lease at $452,092 per year, lifting day one returns to a 7.22% cap and 6.76% cash-on-cash with zero leasing risk, and the owner still keeps $24,272 a year of parking and other income. Collect steady, hands-off income or step in and operate for the upside. The heavy lifting is done: $370,531 of capital invested since 2013, seismic retrofit complete, garage parking, common laundry, renovated quartz kitchens. Offered at $4,350,000, $167,308 per bed.

Location

State CA

County Alameda

Interior

Heating Natural Gas

Cooling None

Fireplace No

Exterior

Total Parking Spaces 7

Others

Tax ID 5518872

Virtual Tour https://2360-ellsworth.com

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Listed by Willem Bos COMPASS #02013980

Nearby School & Business

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Patricia Beattie

+1(415) 286-8292

Broker License ID: 01405369

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2360 Ellsworth St Berkeley, CA 94704

Patricia Beattie

Key Details

Location

Interior

Exterior

Others

Nearby School & Business

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