2110 Ashby Ave Berkeley, CA 94705

Property Details for 2110 Ashby Ave

Year built

1904

Construction

WOOD

Lot size

0.12 lot acres

Property size

6,600 SF

Property type

Investment properties

Property subtype

Live-work space

APN

53-1587-20-1

APU

531587201

Description

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.

Location Insight

City

Berkeley

County

Alameda

State

California

Longitude

-122.266

Latitude

37.8551

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments