2015 Hearst Ave, Berkeley, CA 94709
- $3,280,000
Listed by Willem Bos, (916) 698-9954 from COMPASS
(If provided) CoList: Rick Merritt from Compass
Sold listing courtesy of Outside Area from
- Sold Price
- $3,280,000
- List Price
- $3,868,000
- Closing Date
- Jun 26, 2026
- MLS#
- EB41130403
- Status
- SOLD
- Lot Size
- 5,156
- Listing Area
- Berkeley Map Area 3
- Year Built
- 1963
Property Description
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).
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Additional Information
- Acres
- 0.11
- Amenities
- Storage Area(s), Other
- Cooling System
- None
- Exterior Features
- Stucco
- Floor Covering
- Carpet - Partial, Hardwood
- Heating System
- Gas
- Laundry Facilities
- Washer, Dryer
- Lot Description
- Other
- Lot Size
- 5,156
- Neighborhood
- Berkeley Map Area 3
- Numberof Units
- 7
- Other Rooms
- Basement - Storage Area
- Unincorporated Yn
- Yes
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