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2045 Emerson St 5 Unit Apartment Building $1,500,000 ($300,000/Unit) 5.96% Cap Rate Berkeley, CA 94703
Investment Highlights
- Vacant 3br/1ba ready for owner user
- In Unit Washer & Dryers for duplex
- Renovated Units
- Off Street Parking
Executive Summary
Bos Group is proud to present 2045 Emerson Street, a 5-unit multifamily property located in Berkeley’s South Berkeley neighborhood offered at $1,500,000. The property features a unit mix of four 1BD/1BA units and one 3BD/1BA, generating $11,852 in current monthly income.
This is an exceptional opportunity for an owner-user, with a spacious 3-bedroom unit complemented by a large approximately 500 SF finished basement with half bath, offering significant potential for additional living space, home office, or added income.
Three of the five units, including the owner’s unit, have been renovated with modern kitchens and baths, providing a strong mix of turnkey and value-add potential. The owner’s unit features in-unit washer and dryer, while the remaining units benefit from on-site coin-operated laundry, creating additional income potential.
The property also offers on-site parking with covered carport spaces and further upside through implementing parking and laundry income. With strong in-place cash flow and approximately 12% rental upside, this is a rare opportunity in a highly desirable Berkeley location.
This is an exceptional opportunity for an owner-user, with a spacious 3-bedroom unit complemented by a large approximately 500 SF finished basement with half bath, offering significant potential for additional living space, home office, or added income.
Three of the five units, including the owner’s unit, have been renovated with modern kitchens and baths, providing a strong mix of turnkey and value-add potential. The owner’s unit features in-unit washer and dryer, while the remaining units benefit from on-site coin-operated laundry, creating additional income potential.
The property also offers on-site parking with covered carport spaces and further upside through implementing parking and laundry income. With strong in-place cash flow and approximately 12% rental upside, this is a rare opportunity in a highly desirable Berkeley location.
Property Facts
| Price | $1,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $300,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.96% | Building Size | 3,270 SF |
| Gross Rent Multiplier | 10.55 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1909 |
| Property Type | Multifamily | Parking Ratio | 1.22/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-2A | ||
| Price | $1,500,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 5.96% |
| Gross Rent Multiplier | 10.55 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,270 SF |
| No. Stories | 2 |
| Year Built | 1909 |
| Parking Ratio | 1.22/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-2A |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Yard
- Basement
- Mother-in-law Unit
- Patio
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Gas Range
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+1 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 053-1592-007-00 | Improvements Assessment | $1,472,091 |
| Land Assessment | $633,215 | Total Assessment | $2,110,583 |
Property Taxes
Parcel Number
053-1592-007-00
Land Assessment
$633,215
Improvements Assessment
$1,472,091
Total Assessment
$2,110,583
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2045 Emerson St
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