2243-2245 Ashby Ave 5 Unit Apartment Building $3,200,000 ($640,000/Unit) 5.71% Cap Rate Berkeley, CA 94705

Discover a prime investment opportunity in the heart of Berkeley with this fully leased, multi-unit property at 2243-2245 Ashby Avenue, featuring a diverse unit mix and a prime location with a "Walker's Paradise" score of 93. The property consists of two separate buildings with a total of five units including a spacious 6-bed/2-bath (2243 1/2 Ashby), a 3-bed/2-bath (2243 Ashby), a 2-bed/1-bath, and two 1-bed/1-bath units. Significant improvements have been made to ensure the property is in excellent condition, including four of the five units being completely remodeled since 2020 with updated kitchens, bathrooms, floors, and appliances. The property also features roof work on both buildings as of 2023, new exterior paint, and updated hardwood floors in several units.
There is additional upside value through approved Accessory Dwelling Unit (ADU) permit and rental charges for parking and storage. 2243 Ashby boasts a large attic available for use and ADU plans are approved for a new 2-bed/2-bath unit in the 2,000 sf basement. The property has 5 side-by-side parking spaces (7 spaces if tandem) and coin operated laundry. This well-maintained and strategically located investment is a rare find. With its impressive rental history, recent renovations, and a clear opportunity for future growth, this is a turnkey asset that promises strong returns for years to come. Don't miss your chance to own a piece of Berkeley's thriving real estate market.