3028 Colby Street

Berkeley, CA 94705

$2,499,888
Price
Beds
4,346 Sq. Ft.
$575 / Sq. Ft.
4,346
Sq. Ft.
$575
per Sq. Ft.

Description

5.12% cap! Nestled in the peaceful Elmwood district of Berkeley, 3028 Colby graces the end of a serene cul-de-sac. Consisting of 5 units, 3 of 5 units are fully remodeled, with the largest unit featuring a new custom floor plan. All units are now leased to long-term tenants at full market value, showcasing the meticulous effort put into this investment. With all the hard work completed, the only thing left is to relax & enjoy the steady cash flow from this turnkey investment. Next to Alta Bates Medical...5.12% cap! Nestled in the peaceful Elmwood district of Berkeley, 3028 Colby graces the end of a serene cul-de-sac. Consisting of 5 units, 3 of 5 units are fully remodeled, with the largest unit featuring a new custom floor plan. All units are now leased to long-term tenants at full market value, showcasing the meticulous effort put into this investment. With all the hard work completed, the only thing left is to relax & enjoy the steady cash flow from this turnkey investment. Next to Alta Bates Medical Center, shopping, Whole Foods & just over a mile from the UC Berkeley campus. The front building features a 3-beds, 2-baths unit on the ground floor, complemented by two 1-bed, 1-bath units on the second floor. The rear building hosts a 2-bed, 1-bath unit on the top floor, and a 2-bed, 2-bath unit on the ground floor. Individual metering for electric, gas, & water in each unit places utility responsibility on the tenants, while the landlord covers garbage utilities. On-site parking & coin-operated laundry facilities for additional owner income. Enhanced with upgrades, an exceptional opportunity to acquire a building with robust cash flow & minimal expenses in this highly sought-after area. All of the makings for a stand out turnkey plug & play investment in a prime location.
  1. Listed by Ramsin Jacob • DRE #02003060 • Brokerage DRE #02022092 • Real Brokerage Technologies • 408-909-0900

Property Details for 3028 Colby Street

MLS City Name
BERKELEY
Building Type
Other
Garage Spaces
0
Parking Spaces
0

Location

Listing Courtesy of Real Brokerage Technologies, Ramsin Jacob, DRE #02003060
Add your commute
LISTING UPDATED: 04/17/2024 04:52 PM

Property Details for 3028 Colby Street

StatusActive
MLS #ML81951494
Days on Compass107
Taxes$34,790 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1910
Lot Size0.13 AC / 5,700 SF
CountyAlameda County

Location

Listing Courtesy of Real Brokerage Technologies, Ramsin Jacob, DRE #02003060
Add your commute

Building Information for 3028 Colby Street

Stories-Residences-Year Built1910Building Size-Lot Size0.13 AC / 5,700 SF

Payment Calculator

$16,542 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,643

Property Taxes

$2,899

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3028 Colby Street

Features
Features
  • Fireplace: No
  • Living SqFt: 4346
  • Pool: No
  • Security Features: None
  • Special Features: Parking
Utilities
  • Cooling: Central Forced Air - Gas
  • Heating: Gas
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 5
Garage
  • Garage and Parking: Off-Street Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 5
  • Area Text: Berkeley Map Area 9
  • Restrictions: None
  • Roof: Shingle, Other
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 3028
  • Street Name: Colby
  • Street Suffix: Street
  • Area ID: 2309
Lot / Property Details
Building Information
  • Number of Buildings: 2
  • Structure SqFt: 4346
  • Structure SqFt Source: Assessor
  • Age: 114
Development Information
  • Zoning Detail: R-3
Location Information
  • Parcel Number: 052-1574-021
  • County Name: Alameda
  • City Name: BERKELEY
  • City Postal ID: 123
  • Postal Code: 94705
  • Elementary School District: 1034
  • High School District Text: Berkeley Unified
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .13
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 5
General Information
  • Annual Tax Amount: $34,790
  • Capitalization Rate: 5.34
  • Tenant Expenses: Fee - Parking, Utilities - Electric, Utilities - Gas, Utilities - Water, Other
  • Income Includes: Laundry, Parking, Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $7,231
  • Expense Landscape: $0
  • Expense Maintenance: $2,500
  • Expense Management: $0
  • Expense Trash: $0
  • Expenses Other: $1,287
  • Expenses Utility: $2,615
  • Expenses Total: $48,423
  • Operating Expenses Include: Maintenance, Services - Trash Removal
  • Gross Rent Multiplier: 13.75
  • Income Annual Gross: $181,810
  • Income Annual Rental: $180,060
  • Income Gross Scheduled: $181,810
  • Income Other: $1,750

Property History for 3028 Colby Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3028 Colby Street

Taxable ValueLand$625,000Additions$1,825,000Total$2,450,000
Tax Record2023$37,051 ($3,088 / month)
Home Facts
Total Finished SqFt4,346 SqFtAbove Grade Finished SqFt4,346 SqFtStories2Lot Size5,700 SqFtStyleMulti-Family Res (5+ Units)Year Built1910CountyALAMEDAAPN52-1574-21

Schools near 3028 Colby Street

This home is within Berkeley Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - 6 to 8
Rating
School
Distance
John Muir Elementary School
PublicK to 5

Malcolm X Elementary School
PublicK to 5

Emerson Elementary School
PublicK to 5

Willard Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3028 Colby Street is a multi-family home for sale in Berkeley, CA 94705. This property was listed for sale on January 16, 2024 by Real Brokerage Technologies, it's currently listed at $2,499,888. It has been on the market for a total of 107 days and was last sold on August 16, 2022. This listing's school district is Berkeley Unified School District. Nearby schools include John Muir Elementary School, Malcolm X Elementary School and Emerson Elementary School. 3028 Colby Street is a 0-bed, 0-bath, 4,346 sqft multi-family home built in 1910.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Real Brokerage Technologies, Ramsin Jacob, DRE #02003060

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.