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Listed by Willem Bos • COMPASS
$5,195,000
Est. payment /mo
8,244 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,244 sqft
Price per Sqft $630
Subdivision Alameda County
MLS Listing ID 41113741
HOA Y/N No
Year Built 1965
Lot Size 5,716 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
2537 Ellsworth Street represents a fully renovated nine-unit apartment building located just blocks from UC Berkeley. Offered at $5.195m, this asset has benefited from more than $825,000+ in recent (2024) permitted capital improvements, including seven (7) down-to-the-studs unit remodels, new windows, new roof, a secured parking gate, upgraded electrical panels, and fresh interior and exterior paint and finishes. The property features seven (7) spacious 3-BR/2-BA units and two (2) 3-BR/1.5-BA units, all recently updated with modern finishes and high-quality improvements. This building has a gross building area of 8,244 square feet and offers ten (10) garage parking spaces which bring an additional $1,025/month in gross income. It is off the soft-story list, and has passed sewer lateral and SB-721 inspections. This investment provides both stability and upside, with a current cap rate of 6.21% and a current GRM of 10.63. Tenants enjoy walkability to UC Berkeley, Telegraph Avenue, restaurants, cafés, and shopping, as well as easy access to BART and AC Transit. With its prime location, strong occupancy history, and extensive renovations, 2537 Ellsworth Street represents an outstanding opportunity for investors seeking a pride-of-ownership investment.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling Other
Flooring Other
Fireplace No
Building
Lot Description Level
Water Water District
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