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Listed by Eymon Binesh • Marcus & Millichap
$2,028,000
Est. payment /mo
6,576 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,576 sqft
Price per Sqft $308
MLS Listing ID ML82016262
HOA Y/N No
Year Built 1961
Lot Size 7,400 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Marcus & Millichap is pleased to present 1327 Ashby Avenue, an eight-unit multifamily complex located in the heart of Berkeley, CA. Originally developed and held by the same family since 1961, this asset offers a rare opportunity to acquire a well-maintained, legacy-owned property. The unit mix consists of eight spacious 2-bedroom/1-bathroom floor plans, offering strong tenant appeal and long-term rental upside. The asset has recently undergone substantial capital improvements, including brand new roofs on both buildings, fresh exterior paint, all new dual-pane windows, updated gutters and drainpipes, and a fully replaced sewer line. Interior upgrades include new appliances, flooring, cabinetry, and modern lighting throughout the units. Priced at a 6.50% CAP rate and 9.78 GRM on current rents, 1327 Ashby Avenue offers an attractive in-place yield and qualifies for strong bank financing making this a rare opportunity for investors seeking stability and upside in one of the East Bay's most desirable rental markets.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Dishwasher, Refrigerator
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