ResidentialIncome — 2713 Ridge Rd, Berkeley, CA
$1,995,000
2713 Ridge Rd, Berkeley, CA
About this property
One block from UC Berkeley. Four units, ten bedrooms, all vacant. 2713 Ridge Road sits on Berkeley's Northside, one block from campus and minutes from the Euclid Avenue corridor. Nothing here comes with a tenant to work around — ten bedrooms across four units, a blank page for a buyer to fill in from day one, right where the need for a bed near Cal renews every August. Two 2BR/1BA units and two 3BR/1BA units, 3,336 SF on a 5,500 SF lot, built 1943. Five years of ownership reinvestment mean capital goes into interiors, not the envelope: new roof, front stairwell reconstruction, siding repair and paint, new windows, plumbing upgrades, new electrical panels, replaced sewer lateral. Partial bay views. Gas and electricity separately metered. Garage, three permitted street spaces, basement storage rooms, plenty of upside in the garage level for parking or ADU exploration, subject to city approval. Projected gross income $172,800, an 11.5 GRM, $598/SF, $498,750 per unit. Buildings this close to campus rarely trade, and they almost never trade empty. This one is doing both.
Property details
Location
2713 Ridge Rd • Berkeley, CA 94709
Listed by
Joey Wang · Keller Williams Realty