Bought with Bevan Lew • Capital Properties
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Key Details
Sold Price $2,750,000
Property Type Commercial
Sub Type Apt Complex
Listing Status Sold
Purchase Type For Sale
Square Footage 7,011 sqft
Price per Sqft $392
MLS Listing ID 40997976
Sold Date 09/19/22
HOA Y/N No
Year Built 1962
Lot Size 6,800 Sqft
Property Sub-Type Apt Complex
Source Bridge AOR
Property Description
8-unit multifamily (7 x 2BR/1BA, 1 x 3BR/2BA) near the border of North Oakland + Berkeley—this is 2235 Ashby Avenue. Ideally situated between Shattuck and Telegraph avenues, this listing is near almost anything tenants could ever want: Whole Foods, Trader Joe's, Walgreens, BART, UC Berkeley, & more! Proximity to the Cal campus ensures vacancies are always short-lived, and that turnover is predictable (allowing owners to regularly resent rents at market rates). 7 of 8 units are individually metered to ensure maximum managerial convenience and the lowest operational costs possible—this includes HOT water, as each unit comes with its own water heater. It's also important to note the property features an 8-car parking lot which aids in the attraction of prospective tenants willing to pay above the market rate for a unit. 2235 Ashby Avenue is an investment with major potential—property comes with an approximate +20% upside when examining the current rents versus the expected market rents.
Location
State CA
County Alameda
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Flooring Hardwood, Tile, Vinyl, Carpet
Fireplace No
Appliance Dryer, Washer, Gas Water Heater
Laundry 220 Volt Outlet, Common Area, Dryer, Washer
Exterior
View Bay Bridge, Golden Gate Bridge, Hills, San Francisco
Building
Lot Description Back Yard, Landscape Front, Paved, Landscape Back
Water Public
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