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Listed by Matthew Flaherty Colliers International
$5,800,000
Est. payment /mo
6,381 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 426160621
HOA Y/N No
Lot Size 6,381 Sqft
Acres 0.1465
Property Sub-Type Multi Family
Property Description
2701 Ridge Road presents a rare opportunity to acquire an almost fully vacant 12-unit apartment building in Berkeley's highly desirable Northside neighborhood. Located within walking distance of the UC Berkeley campus, the property offers tenants exceptional proximity to the university, neighborhood restaurants, cafs, shopping, and public transportation. Constructed in 1959, the approximately 10,404-square-foot building consists of three one-bedroom units and nine two-bedroom units. The property also features ten parking spaces, on-site laundry, a shared backyard, separately metered gas and electricity, and double-pane windows. Nine of the building's twelve apartments are currently vacant, with an additional unit scheduled to become vacant, providing an incoming owner with immediate flexibility to renovate and lease the units at market rents. The substantial vacancy also creates an opportunity to implement a cohesive renovation and repositioning program with minimal disruption from existing tenancies. With its highly desirable location near UC Berkeley, favorable unit mix, on-site parking, and significant vacancy, 2701 Ridge Road offers a compelling opportunity to reposition a well-located multifamily asset in one of Berkeley's strongest rental markets.
Location
State CA
County Alameda
Area Berkeley Map Area 1
Interior
Fireplace No
Building
Lot Description Other
New Construction No
Others
Tax ID 58220481
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