Elmwood Shopping District 2980 College Ave

9,424 SF 100% Leased Retail Building Berkeley, CA 94705 $4,950,000 ($525/SF) 5.63% Cap Rate

INVESTMENT HIGHLIGHTS

  • Property Features a Condominium Structure with Thirteen Units Consisting of Six Commercial Units and SevenResidential Units
  • Strategically Located in a High Income, Upscale Neighborhood with a Car Count of Over 50,000 Daily
  • Prime Elmwood Location - Close to UC Berkeley Campus, BART, Numerous Cafés, Restaurants, Boutiques, Independent Merchants and Services
  • Residential Units Boast Amenities Including Washer/Dryer In-Unit, Air Conditioning, Heating, Dishwasher, Disposal, Stainless Steel Appliances
  • Eleven Condo Parcels Which Can Be Sold Separately
  • Incredible Seller Financing Available for Qualified Buyers 4.5% Interest Only

EXECUTIVE SUMMARY

The Pinza Group is pleased to present Elmwood Village at 2980 College Ave in Berkeley, CA, featuring a condominium structure with thirteen (13) well-maintained units comprising six (6) commercial units and seven (7) residential units. The residential units consist of one 3bd/2bth unit, two (2) 2bd/2bth units, two (2) 1bd/1bth units, and two (2) studio apartments. Tenants are responsible for gas and electricity, which keeps owner expenses low. The property is in excellent condition with no issues reported. Residential units boast amenities including washer/dryer in-unit, air conditioning, heating, cable readiness, dishwasher, disposal, stainless steel appliances, microwave, refrigerator, carpet, tile floors, vinyl flooring, walk-in closets, and large bedrooms. The property is fully occupied by stable tenants, most of whom are paying near market-rate rents, presenting an extremely rare opportunity to acquire a fully turnkey asset in one of the Bay Area's hottest rental markets.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,424 SF
Building Class
C
Year Built
1983
Price
$4,950,000
Price Per SF
$525
Cap Rate
5.63%
NOI
$278,685
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.35
Lot Size
0.16 AC
Zoning
C-E
Frontage
25 FT on College Avenue

AMENITIES

  • Bus Line
  • Signage
  • Air Conditioning
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (93)

NEARBY MAJOR RETAILERS

Whole Foods Market
Bank Of America
Jazzercise
Philz Coffee
Fremont Bank
Safeway
Starbucks
Trader Joe's
Barney's Gourmet Hamburgers
Peet's Coffee

PROPERTY TAXES

  • Listing ID: 34637781

  • Date on Market: 1/28/2025

  • Last Updated:

  • Address: 2980 College Ave, Berkeley, CA 94705