2537 Ellsworth St - Apartments FOR SALE


Berkeley, CA 94704
$5,675,000 USD
415-786-9410
2537 Ellsworth St, Berkeley, CA for Sale
$5,675,000 USD
Apartments - FOR SALE
1/29
null | 5.5% Cap Rate

2537 Ellsworth St
Berkeley, CA 94704


HIGHLIGHTS

  • Over $825,000+ in Permitted Renovations in 2024
  • Seven (7) Fully Renovated Interiors; New Roof, New Main Electrical Upgrade, New Front Entry, TimberTech Siding & New Exterior Paint
  • Common Areas & Railings Fully Updated, New Windows Throughout, New Sewer Lateral Line & Fire Suppression System
  • Five (5) Blocks from UC Berkeley
  • 5.50% Current Cap Rate with Upside

OVERVIEW

Compass Commercial is pleased to present 2537 Ellsworth Street in Berkeley, a turnkey investment with massive renovations in the past year. Situated just blocks from the UC Berkeley campus, 2537 Ellsworth Street offers a rare opportunity to own a fully remodeled nine (9) unit multifamily property in one of the city's most desirable locations. Priced at $5,675,000, this turnkey investment features seven (7) spacious 3-bedroom/2-bathroom units and two (2) 3-bedroom/1.5-bathroom units, all recently updated with modern finishes and high-quality improvements. This property has undergone extensive renovations totaling over $825,000+, including new windows, a secured parking gate, a new roof, and electrical upgrades. With 10 garage spaces and thoughtful capital improvements throughout, it offers both convenience and peace of mind for tenants and investors alike. Located within walking distance of gourmet restaurants, artisan coffee shops, and multiple BART stations, Ellsworth Street combines modern living with urban connectivity. Currently fully occupied by undergraduate students, this property generates strong cash flow with a current in-place cap rate of 5.50%, and a projected market cap rate of 6.58%+

FOR SALE DETAILS

PRICE

$5,675,000 USD

PRICE/SF

$558 USD /SF

# OF UNITS

9

PRICE/UNIT

$630,556

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,716 SF

ZONING

Multifamily Residential

APN/PARCEL ID

055-1832-017-00

ASK ABOUT THIS PROPERTY

Nate GustavsonCompass CommercialMore Info
415-786-9410

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Nate GustavsonCompass CommercialMore Info
415-786-9410

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.