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2015 Hearst Ave
Berkeley, CA 94709
Multifamily Property For Sale
·
7 Units
Investment Highlights
- UC Berkeley adjacent property
- Soft Story Compliant
- Turn Key investment
- Student housing
- SB 721 Compliant
Executive Summary
Bos Group is pleased to present 2015 Hearst Avenue, a well-maintained 7-unit multifamily asset located just two blocks from the University of California, Berkeley in one of the East Bay’s most supply-constrained and high-demand rental markets. The property benefits from consistent student and faculty demand, making it an ideal long-term hold with strong upside potential.
Ownership has completed extensive capital improvements to the building’s major systems, including a new roof, upgraded electrical and plumbing systems, dual pane windows, and fresh exterior paint. The property is also Soft Story and SB-721 compliant, providing added confidence for investors. With major capex already addressed, future improvements are primarily cosmetic and unit-level upgrades, creating a clear path to increasing rental income.
Offered at $3,868,000, the asset equates to $552,571 per unit and $672 per square foot, with a 5.50% cap rate and 12.20 GRM. Investors can capture approximately 11.32% rental upside through renovations and operational improvements (buyer to verify). Additional income is generated through parking leased to a neighboring dental practice, along with seven storage units available for lease. Each unit also offers potential for reconfiguration to maximize rental income (buyer to verify).
Ownership has completed extensive capital improvements to the building’s major systems, including a new roof, upgraded electrical and plumbing systems, dual pane windows, and fresh exterior paint. The property is also Soft Story and SB-721 compliant, providing added confidence for investors. With major capex already addressed, future improvements are primarily cosmetic and unit-level upgrades, creating a clear path to increasing rental income.
Offered at $3,868,000, the asset equates to $552,571 per unit and $672 per square foot, with a 5.50% cap rate and 12.20 GRM. Investors can capture approximately 11.32% rental upside through renovations and operational improvements (buyer to verify). Additional income is generated through parking leased to a neighboring dental practice, along with seven storage units available for lease. Each unit also offers potential for reconfiguration to maximize rental income (buyer to verify).
Property Facts Under Contract
| Price Per Unit | $552,571 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.50% | Lot Size | 0.12 AC |
| Sale Condition | 1031 Exchange | Building Size | 5,760 SF |
| Gross Rent Multiplier | 12.2 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.74/1,000 SF |
| Zoning | R | ||
| Price Per Unit | $552,571 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.2 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 5,760 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 1.74/1,000 SF |
| Zoning | R |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | 675 |
Property Taxes
| Parcel Number | 057-2050-013-02 | Improvements Assessment | $1,645,035 |
| Land Assessment | $706,029 | Total Assessment | $2,351,064 |
Property Taxes
Parcel Number
057-2050-013-02
Land Assessment
$706,029
Improvements Assessment
$1,645,035
Total Assessment
$2,351,064
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