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Listed by Jatin Mehta • Kite Hill Real Estate
$3,285,000
Est. payment /mo
6,216 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,216 sqft
Price per Sqft $528
Subdivision Berkeley
MLS Listing ID 41135043
HOA Y/N No
Year Built 1940
Lot Size 6,203 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
To access the marketing package, copy and paste: https://bit.ly/kitehillre 3411 Adeline Street is a fully renovated 6-unit apartment building located one block from Ashby BART in Berkeley. The property provides convenient access throughout Berkeley, Oakland, San Francisco, and the greater Bay Area while benefiting from a Walk Score of 95 near cafés, restaurants, markets, and neighborhood amenities along the Adeline corridor. Its location has historically attracted demand from UC Berkeley students, commuters, and young professionals seeking large-format housing with convenient transit access. The property features a unit mix of (3) 3-bedroom/2-bath units, (1) 4-bedroom/3-bath unit, and (2) 4-bedroom/4-bath units, making it well suited for traditional rental, student housing, or co-living. Current rents average over $4,480 per month per unit, providing strong in-place income with additional long-term rental upside. The large floor plans are complemented by in-unit laundry, shared laundry facilities, solar panels, and off-street parking. Originally redeveloped down to the studs, the property has undergone extensive renovations including all new electrical, plumbing, roof, and windows. Each unit has been updated with modern kitchens, bathrooms, and contemporary finishes throughout. In addition, the property includes two newly constructed ground-up ADUs at the rear, further enhancing the property's income profile. The asset is currently offered at a 6.77% Cap Rate and 9.54 GRM.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling None
Flooring Wood
Fireplace No
Laundry Coin Operated
Building
Lot Description Rectangular Lot, Paved
Water Public
Others
Special Listing Condition Standard
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