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Berkeley
94705
2110 Ashby Ave

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FOR SALE

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2110 Ashby Ave Berkeley, CA 94705

6,600 SF 0.12 ac lot Built 1904

Entity Owned 5-yr Hold ~ Est. High Equity

Property ID

US09-9355184

$2,100,000 6,600 SF

2110 Ashby Ave, Berkeley, CA 94705
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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.