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About the Listing BMLS-OBBCOMP - BMLS-R02013980,BMLS-159523107,BMLS-CR275309
Located just two blocks from the University of California, Berkeley, 2015 Hearst Avenue is a well-maintained 7-unit multifamily asset 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).
Listing Highlights
Status
Pending
Days on Site
40
Property Type
Multi-Family
MLS ®
41130403
Year Built
1963
Total Square Footage
0
Lot/Acreage
0.12
County
Alameda
Neighborhood
North Berkeley
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances: Gas Water Heater, Dryer, Washer
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 7
- Roof:
- Others: Stucco,2+ Total Units
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 572050132
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
2015 Hearst Ave Berkeley, CA 94709
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