2801 College Ave
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2801 College Ave
21 Unit Apartment Building $5,580,000 ($265,714/Unit) 5.38% Cap Rate Berkeley, CA 94705
Investment Highlights
- Structural Retrofit Completed | OFF Soft Story List
- New Exterior Paint
- Two Brand New ADU's Completed (2022)
- Well-Maintained Features Attractive to Renters | Professionals & Students
Executive Summary
Well maintained and fully occupied, this 21-unit Apartment is located close to UC Berkeley campus in the Elmwood District. This property presents a turnkey opportunity to investors looking to own multifamily rental units in a prime Berkeley location with solid income, minimal expenses, and significant rental upside. The subject property offers its tenants a newly painted exterior and many renovated apartments. Owners have done the work to remove the apartment from the Soft Story List and have applied for 2 ADUs to bring the total number of units to 21. Tenants will appreciate being one block from shopping and restaurants, and it’s location makes it a highly desirable place to live for recent graduates, young professionals, new families, & even current students looking to escape the cramped dorm room style living!
STRUCTURAL RETROFIT COMPLETE (OFF SOFT-STORY LIST) - TWO BRAND NEW ADU UNITS
STRUCTURAL RETROFIT COMPLETE (OFF SOFT-STORY LIST) - TWO BRAND NEW ADU UNITS
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $1,623 | 320 - 365 |
| 1+1 | 14 | $1,450 | 460 - 600 |
| 2+1 | 1 | $2,140 | 725 |
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Walk Score ®
Walker's Paradise (96)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 053-1696-001-00 | Total Assessment | $3,010,156 (2024) |
| Land Assessment | $722,194 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,287,962 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
053-1696-001-00
Land Assessment
$722,194 (2024)
Improvements Assessment
$2,287,962 (2024)
Total Assessment
$3,010,156 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R-2A (Multifamily Residential.) |
| R-2A (Multifamily Residential.) |
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2801 College Ave
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