2211 Haste St

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Address: 2211 Haste St, Berkeley, California, US
Created date: May 11, 2024
Date last updated: May 16, 2024
  • Tailored for Students: With a total of 10 bedrooms and 5 bathrooms, 2209-2211 Haste is ideal for the student rental market.
  • Steady Income Stream: 2209-2211 Haste presents strong in-place cash flow of $15,800 per month, resulting in annual income of $189,600.
  • Compelling Metrics: Priced at a competitive 10.88 Gross Rent Multiplier (GRM) and a 6.01% Cap Rate, this property immediately delivers value for investors.
  • Unlocking Potential: 15% upside in gross rents; the property previously generated $19,900 per month at its peak (July 2018 - May 2020)
  • Unique Unit Mix: 2211 (Upstairs) is a 7 bed, 3 bath layout, and 2209 (Downstairs) is a 3 bed, 2 bath unit. This versatility caters to the diverse needs of the student population.
  • ADU Opportunity: Approved plans for a 2-bedroom, 1-bathroom Accessory Dwelling Unit (ADU) are available in the disclosure package. (Permit expired – buyer needs to resubmit the previously approved plans for a new permit.)
  • Tenant-Friendly Amenities: The inclusion of in-unit laundry facilities enhances the property's desirability and rentability, ensuring that your tenants enjoy a convenient and comfortable living experience.
  • Major Capital Expenditures: The property was extensively renovated in 2017 including new siding, new roof, new HVAC, new windows, new appliances, new water heaters and expansion of units.
  • Location: Located only 3 blocks from UC Berkeley campus on the southside of campus

Property Description

Discover an exceptional investment opportunity at 2209-2211 Haste, a recently renovated duplex in the heart of Southside Berkeley just 3 blocks to campus. With a strong in-place income, this property offers an attractive combination of reliable returns, attractive metrics, and substantial upside potential. This property generates $15,800/month, resulting in an impressive annual income of $189,600, ensuring a steady and consistent cash flow. Priced at a competitive 10.88 Gross Rent Multiplier (GRM) and a 6.01% Cap Rate, it immediately delivers value for savvy investors. Additionally the property offers significant upside – 20% growth in rents and comes with plans for a 2 bed, 1 bath ADU. (Permit expired – buyer needs to resubmit the previously approved plans for a new permit.) Tailored for the student rental market, 2209-2211 Haste offers a total of 10 bedrooms and 5 bathrooms, including a spacious 7-bedroom, 3-bathroom layout and a comfortable 3-bedroom, 2-bathroom unit. This versatility caters to the diverse needs of the student population. The property's prime location just steps from the University of California Berkeley, with remarkable walk, transit, and bike scores, ensures consistently high tenant demand.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: 2-4 Units
Price: $2,125,000
No. of Units: 2
Year Built: 1906
Lot Size: 0.09 Sq ft
Opportunity Zone: No
Price per unit: $1,062,500
Property Website Click Here
Address: 2211 Haste St, Berkeley, CA 94704, USA
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