2427 McKinley Avenue
- Prime Berkeley Location: Just 6–7 blocks from UC Berkeley and only a few blocks from Downtown Berkeley BART, offering exceptional access to campus, public transit, restaurants, cafés, and shopping.
- Stable In-Place Cash Flow: 100% occupied and generating over $140,000 in annual gross income, providing immediate and reliable income.
- Desirable Unit Mix: Features (4) one-bedroom/one-bath units and (2) studio units, catering to Berkeley's strong demand from students, faculty, and professionals.
- Rare 1:1 Covered Parking: Each unit is assigned a covered garage parking space, a highly sought-after amenity in Berkeley.
- Extensive Property Upgrades: Four of the six units have been renovated, enhancing tenant appeal and minimizing near-term capital expenditures.
- Soft-Story Retrofit Completed: The property's mandatory seismic soft-story retrofit has been completed, providing peace of mind for investors while eliminating a significant future capital expense.
- Additional Income Opportunity: On-site coin-operated laundry provides supplemental income for ownership.
- Sewer Lateral Compliant: Sewer lateral compliance has been completed, reducing future capital expenditure concerns.
- Mid-Century Construction: Built in 1962, this classic Berkeley apartment building offers timeless appeal and a proven operating history.
- Exceptional Rental Demand: Located in one of Berkeley's strongest rental submarkets, benefiting from year-round demand driven by UC Berkeley and Downtown Berkeley amenities.
Property Description
Kite Hill Real Estate presents 2427 McKinley Ave, a well-maintained 6-unit mid-century apartment building located in one of Berkeley's most desirable rental markets. Situated just 6–7 blocks from UC Berkeley and only a few blocks from Downtown Berkeley BART, the property offers exceptional access to campus, public transit, restaurants, cafés, grocery stores, and the vibrant Downtown Berkeley commercial district. The property features an attractive unit mix of (4) 1-bedroom/1-bath units and (2) studio units, appealing to Berkeley's consistently strong demand from students, faculty, and young professionals. The property is 100% occupied and generates over $140,000 in annual gross income, providing stable in-place cash flow. Additional amenities include 1:1 covered garage parking, on-site coin-operated laundry, and 4 of the 6 units have been renovated, enhancing tenant appeal while reducing future capital needs. Ownership has completed several major improvements, including the mandatory soft-story seismic retrofit and sewer lateral compliance, allowing investors to acquire a well-maintained asset with significant infrastructure work already completed. Built in 1962, 2427 McKinley Avenue offers a rare combination of a premier Berkeley location, strong current income, and long-term investment potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,600,000 |
| No. of Units: | 6 |
| Year Built: | 1962 |
| Lot Size: | 0.12 Acres |
| Opportunity Zone: | No |
| Price per unit: | $266,667 |
| Property Website | Click Here |
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