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    2110 Ashby Ave Berkeley, CA 94705

    Sponsored
    For Sale
    $2,398,000

    12-unit building, 5.49% cap rate

    Property size:
    6,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 12-unit apartment building at 2110 Ashby Avenue in Berkeley, CA. The property boasts 6,600 square feet of net rentable space across three stories, situated on a 5,200 square foot lot. Built in 1904 and extensively renovated in 2018, the building features a mix of commercial and residential uses, permitted under Commercial/Office/Residential/Mixed Use zoning. Currently generating a Net Operating Income (NOI) of $159,365, representing a 5.49% capitalization rate with a pro-forma cap rate of 6.64%. The asking price is $2,398,000, translating to $363 per square foot and $213 per unit. The property includes a detached storage unit with potential for conversion. Significant upgrades include seismic improvements and dual-pane windows. Located in Berkeley's Elmwood neighborhood, this fully occupied building benefits from its proximity to Ashby BART station, freeways, and numerous amenities, including Berkeley Bowl and Whole Foods. The property's strong tenant base, combined with the potential for rent increases and property appreciation, makes it an attractive investment for those seeking a stable, income-producing asset in a prime location. The Alameda County Assessor's Parcel Number (APN) is 053-1587-020-01. The land value is $461 per square foot. Leases are gross.

    Property Features for 2110 Ashby Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,600 SF

    Building Details

    Year Built/Renovated
    1904/2018
    Buildings
    1
    Stories
    3
    Units
    12

    HighLights

    • 12‑unit apartment building in Berkeley, CA, with 6,600 square feet of net rentable space on a 5,200 square foot lot.
    • Built in 1904, extensively renovated in 2018, with Commercial/Office/Residential/Mixed Use zoning.
    • $2,398,000 asking price, generating a $159,365 NOI (5.49% cap rate, 6.64% pro‑forma cap rate).
    • $363 per square foot, $213 per unit; includes detached storage unit; seismic upgrades and dual‑pane windows.
    • Located in Elmwood neighborhood, near Ashby BART, freeways, and amenities; fully occupied with gross leases; Alameda County APN 053‑1587‑020‑01; land value $461 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Magnetic Arts Tattoo Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Berkeley
    County
    Alameda
    State
    California
    Longitude
    -122.2658983
    Latitude
    37.8552001

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    FAQs

    What type of property is this?
    Multifamily property - 12-unit building, 5.49% cap rate
    Where is this multifamily property located?
    The property is located at 2110 Ashby Ave Berkeley, CA.
    What is the asking price?
    The asking price for this property is $2,398,000.
    What are key features of this property?
    This property features: 12-unit apartment building in Berkeley, CA, with 6,600 square feet of net rentable space on a 5,200 square foot lot.; Built in 1904, extensively renovated in 2018, with Commercial/Office/Residential/Mixed Use zoning.; $2,398,000 asking price, generating a $159,365 NOI (5.49% cap rate, 6.64% pro-forma cap rate).
    Request Owner's contact information
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    Berkeley, CA 94705
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2110 Ashby Ave Berkeley, CA 94705
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