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Elite Real Estate Group
info@elitereg805.com$4,350,000
Est. payment /mo
3,759 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision South Berkeley
MLS Listing ID 41145057
HOA Y/N No
Year Built 1964
Lot Size 3,759 Sqft
Property Description
2360 Ellsworth St sits one block from the UC Berkeley campus edge in South Berkeley, where demand is driven by enrollment. Seven units and twenty six beds, leased by the bed or by the unit, so ownership runs whichever strategy the market rewards. A 6.60% cap and 9.22 GRM going in at 96% bed occupancy, with rents nearly 10% below market. The kicker: the seller is willing to sign a master lease at $452,092 per year, lifting day one returns to a 7.22% cap and 6.76% cash-on-cash with zero leasing risk, and the owner still keeps $24,272 a year of parking and other income. Collect steady, hands-off income or step in and operate for the upside. The heavy lifting is done: $370,531 of capital invested since 2013, seismic retrofit complete, garage parking, common laundry, renovated quartz kitchens. Offered at $4,350,000, $167,308 per bed. The full Offering Memorandum is available for immediate download at 2360-ellsworth.com or reach out to willem@bosgroupcre.com or brian@bosgroupcre.com.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Total Parking Spaces 7
Others
Tax ID 5518872
Virtual Tour https://2360-ellsworth.com
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Listed by Willem Bos COMPASS #02013980
Nearby Schools & Businesses
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Elite Real Estate Group
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