2801 College Avenue

Berkeley, CA 94705

$5,580,000
Price
Beds
9,958 Sq. Ft.
$560 / Sq. Ft.
9,958
Sq. Ft.
$560
per Sq. Ft.

Description

STRUCTURAL RETROFIT COMPLETE (OFF SOFT-STORY LIST) - TWO BRAND NEW ADU UNITS --- 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...STRUCTURAL RETROFIT COMPLETE (OFF SOFT-STORY LIST) - TWO BRAND NEW ADU UNITS --- 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 its 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!

Listing Agent

  1. Nate Gustavson

    Nate Gustavson

    Listing Agent

    Compass

    DRE #01898316

Property Details for 2801 College Avenue

MLS City Name
BERKELEY
Building Type
Other
Garage Spaces
0
Parking Spaces
2
Cross Street
Stuart

Location

Listing Courtesy of Compass, Nate Gustavson, DRE #01898316
Add your commute
LISTING UPDATED: 05/25/2024 12:20 AM

Property Details for 2801 College Avenue

StatusActive
MLS #ML81965392
Days on Compass18
Taxes$67,294 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1957
Lot Size0.17 AC / 7,400 SF
CountyAlameda County

Location

Listing Courtesy of Compass, Nate Gustavson, DRE #01898316
Add your commute

Building Information for 2801 College Avenue

Stories-Residences-Year Built1957Building Size-Lot Size0.17 AC / 7,400 SF

Payment Calculator

$36,060 per month

30 year fixed, 7.25% Interest

Principal and Interest

$30,452

Property Taxes

$5,608

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2801 College Avenue

Features
Features
  • Fireplace: No
  • Flooring: Laminate, Tile
  • Laundry: Coin Operated
  • Living SqFt: 9958
  • Pool: No
  • Security Features: Security Building
  • Special Features: None
Utilities
  • Cooling: Ceiling Fan
  • Heating: Wall Furnace
  • Meters: Master Water
  • Sewer Septic: Sewer - Public, Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Off-Site Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 21
  • Area Text: Berkeley Map Area 10
  • Restrictions: None
  • Roof: Other
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 2801
  • Street Name: College
  • Street Suffix: Avenue
  • Area ID: 2310
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 9958
  • Structure SqFt Source: Other
  • Age: 67
Development Information
  • Ownership Type: Individual
Location Information
  • City Limits: Yes
  • Directions: Corner of Stuart and College.
  • Incorporated: No
  • Parcel Number: 053-1696-001
  • County Name: Alameda
  • City Name: BERKELEY
  • City Postal ID: 123
  • Postal Code: 94705
  • Elementary School District: 1034
  • High School District Text: Berkeley Unified
Lot Information
  • Foundation: Other
  • Lot Acres: .17
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 21
General Information
  • Annual Tax Amount: $67,294
  • Capitalization Rate: 5.38
  • Tenant Expenses: Miscellaneous/Other, Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 2
Income / Expense Details
  • Expense Insurance: $8,500
  • Expense Landscape: $0
  • Expense Maintenance: $5,035
  • Expense Management: $6,000
  • Expense Trash: $3,567
  • Expenses Other: $34,396
  • Expenses Utility: $24,422
  • Expenses Total: $149,214
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Maintenance - Pool/Spa, Services - On-Site Manager, Services - Trash Removal, Utilities - Water, Vacancy Factor
  • Gross Rent Multiplier: 12.17
  • Income Annual Gross: $449,397
  • Income Annual Rental: $455,364
  • Income Gross Scheduled: $458,568
  • Income Other: $3,204
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,140
Unit 2 Information
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $1,450
Unit 3 Information
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 0
  • Unit 3 Rent: $1,495

Property History for 2801 College Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2801 College Avenue

Taxable ValueLand$708,037Additions$2,234,113Total$2,942,150
Tax Record2023$51,698 ($4,308 / month)
Home Facts
Total Finished SqFt9,172 SqFtAbove Grade Finished SqFt9,172 SqFtStories3Lot Size7,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1957CountyALAMEDAAPN53-1696-1

Schools near 2801 College Avenue

This home is within Berkeley Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - 6 to 8
Rating
School
Distance
John Muir Elementary School
PublicK to 5

Malcolm X Elementary School
PublicK to 5

Emerson Elementary School
PublicK to 5

Willard Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2801 College Avenue is a multi-family home for sale in Berkeley, CA 94705. This property was listed for sale on May 13, 2024 by Compass, it's currently listed at $5,580,000. This listing's school district is Berkeley Unified School District. Nearby schools include John Muir Elementary School, Malcolm X Elementary School and Emerson Elementary School. 2801 College Avenue is a 0-bed, 0-bath, 9,958 sqft multi-family home built in 1957.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Nate Gustavson, DRE #01898316

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.