REO-Prime Location/Showing 9:30 am- 3/23/2025 7361 Claremont Ave 4 Unit Apartment Building $1,995,000 ($498,750/Unit) 4.60% Cap Rate Berkeley, CA 94705

Showing of Unit Interiors Sunday 3/23/2025 at 9:30 am sharp. RSVP to listing agent Jon Holmquist, 415-596-3691 cell. Price REDUCED BY $155,000! Motivated Bank Seller/REO. 7361 Claremont Avenue is currently lender owned having been taken back by the lender in January of 2025 via. foreclosure. Custom built as a mansion circa 1923 by the prominent Biedenbach Family, the property boasts beautiful and unique architecture with a European flare. The attractive exterior showcases high-end brick and stone-work, meticulous hand-built woodworking and exudes an elegance that reflects the skill and elite craftsmanship of the era. The fire-resistant brick residence, sits on four separate levels, with a beautiful garden, alluring stone arches and stairways, and a vast layout of grand rooms befit for regal entertainment. The unique property was active during the prohibition era and contains hidden doors, secret rooms, covert storage areas, that tell of its storied past.
Having gone through several iterations including a mansion with a maid/nanny quarters, a four-unit, and a five-unit rental, the property is reflected in current property records as a legal four-unit with a net rentable 4,742 square feet. The prior owner worked to get entitlements for two ADU units in the garage and processed TIC paperwork potentially allowing upside through individual sale of the units. The property has been Ellis Acted by the prior owner with a “Notice Of Intent To Withdraw Rental Units From Rental Market” recorded March 22nd, 2022. This limits the rental possibilities on the open market through March 22nd, 2027 and makes the property ideal for an owner user, or creative investor looking to convert the property to a family compound, single-family-home, or potential Tenant In Common (TIC) units for individual sale. The present building configuration contains two one-bedroom/one-bathroom, one, one-bedroom+den/one-bathroom, and one four-bedroom/two-bathroom units on a 0.15-acre parcel. The property is currently 100% vacant and ready for a new investor to put their personalized touches on the property prior to move in. All units are separately metered for PG&E and the property has one master water meter. The two enclosed parking garages (with space for four total cars) may provide immediate additional income, or be converted to ADU’s.