2906 Telegraph Ave
Berkeley, CA 94705
5.17% Cap Rate!! All Units Vacant!!! · Multifamily Property For Sale · 4 Units

Citrine Advisors is pleased to announce the exclusive listing of 2906 Telegraph Avenue in Berkeley, CA. The subject property offers the unique opportunity to acquire an investment property in one of the healthiest rental market in the East Bay. The property was built in 1904 and is situated on an 3,789 square foot lot, with 2 garage spaces and a shed for additional storage. It is conveniently close to UC Berkeley, Whole Foods and Ashby Bart. All the units will be delivered vacant allowing the new owner to choose their tenants and rent at market rates. A savvy owner may take this opportunity to significantly remodel the vacant units to get top dollar rents or perhaps add additional square footage to the basement or attic. Property has the potential to generate a very strong return. 2906 Telegraph was operating at a 5.17% cap rate when fully occupied. The owner pays for all utilities. This property is also a perfect opportunity for an owner operator to occupy some of the vacant space while collecting income from the rest of the property. Berkeley is characterized by highly-skilled and educated workers and a liberal community. University of California, Berkeley is the oldest school in the UC system and has nearly 36,000 students enrolled. Students opting to utilize off-campus housing, along with low home affordability continue to be the primary demand drivers for Berkeley’s historically strong rental market.