Apartment Building with Renovated
For Sale
$4,350,000
2360 Ellsworth St, Berkeley, CA 94704
Seven-unit apartment property with bed-by-bed or whole-unit leasing, garage parking, and shared laundry facilities.
Property Size7,891 SF
Days on Market59
Property Features for 2360 Ellsworth St
General Information
Standard status
Active
Size
7,891 SF
Property subtype
Multi Family
Occupancy
96%
Financials
Asking Price
$4,350,000
Cap Rate
6.6%
Gross Rent Multiplier
9.22
Additional Details
Multifamily Units
7
Amenities
garage parking
common laundry
renovated quartz kitchens
Building Details
Building Size
7,891 SF
Year Built
1975
Listing Agency:
COMPASS
Listed By:
Willem Bos · License #02013980
(916) 698-9954
Source:
Annnewtoncane
Added: Aug 14
Changed: Sep 30
Last Checked: Oct 11 at 11:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMPASS
Investment Insights
Based on property information with market context.
Built in 1964, this apartment property contains 7 units and 26 beds in South Berkeley, one block from the UC Berkeley campus edge. The layout supports leasing either by individual bed or by complete unit, providing two operating formats. Renovated quartz kitchens, common laundry, garage parking, and a completed seismic retrofit are among the property improvements.
The property is operating at 96% bed occupancy, with a 6.60% going-in cap rate and a 9.22 GRM. Rents are nearly 10% below market. The seller will sign a master lease, while ownership retains annual parking and other income. The property is located at 2360 Ellsworth St, Berkeley, CA 94704, with a bikeScore of 94 and a transitScore of 66.
The property is operating at 96% bed occupancy, with a 6.60% going-in cap rate and a 9.22 GRM. Rents are nearly 10% below market. The seller will sign a master lease, while ownership retains annual parking and other income. The property is located at 2360 Ellsworth St, Berkeley, CA 94704, with a bikeScore of 94 and a transitScore of 66.
Key Highlights
- 7 units and 26 beds with leasing by bed or by unit
- 96% bed occupancy, 6.60% going‑in cap rate, and 9.22 GRM
- One block from the UC Berkeley campus edge
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,841
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,136,820
$3.1M
Cap Rate 7%
$2,240,586
$2.2M
Cap Rate 9%
$1,742,678
$1.7M
Market Conditions
NOI Build-Up for 7,891 SF
Gross rent
$300.2K $38.04/SF
− Vacancy
−$15.0K −$1.90/SF
EGI
$285.2K $36.14/SF
− OpEx
−$128.3K −$16.26/SF
NOI
$156.8K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,136,820
Cap Rate 7%
$2,240,586
Cap Rate 9%
$1,742,678
Alternative Uses
Best Use
Apartment 5plus
$2.24M
$1.96M – $2.61M
NOI $156,841 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.05M
$2.67M – $3.56M
NOI $213,625 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
96%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,364
Businesses Nearby
Explore this area
Business Placement
Demographics for 94704, CA
25,259
Population
9,722
Households
2.6
Avg Household Size
26
Median Age
72%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
28,066
Density / Sq Mi
$52,105
Median Household Income
$17,509
Median Earnings
$1,987
Median Rent
$918,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit apartment property with bed-by-bed or whole-unit leasing, garage parking, and shared laundry facilities.
Where is this apartment building located?
The property is located at 2360 Ellsworth St Berkeley, CA.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: 7 units and 26 beds with leasing by bed or by unit; 96% bed occupancy, 6.60% going‑in cap rate, and 9.22 GRM; One block from the UC Berkeley campus edge
