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40 Years, Lovingly Stewarded by the Same Family
2627 FULTON ST. BERKELEY
PRIDE-OF-OWNERHSIP 6-UNIT BEAUTY
This 6-Unit building has been in the same family for 40 years and its pride of ownership shows in the excellent maintenance throughout. Early 1900’s architectural charm is found with built-ins, hardwood floors, dramatic high ceilings in the first floor units and abundant windows and light. This, combined with mindful remodeling and updating of four of the six apartments between 2016-2019, a 1989 foundation, and a 2016 roof, makes this an exciting investment property or a place to call home.
The location provides easy access to BART and AC Transit and is barely a mile to UC Berkeley campus and sports a “Bikers’ Paradise” score of 95. Berkeley Bowl is 4 blocks from the front door. Restaurants and movie theaters abound on the nearby Shattuck commercial corridor A level yard and an upper deck provides outdoor space for the tenants. Two recent vacancies, plus an upcoming vacancy of the manager’s unit will give the new owners a chance to set fresh market rents and choose their own new tenants.
The two vacant units can be shown by appointment. Other units shown upon acceptance of an offer. Inspections, floor plans and additional photos available of all units.
5 cap rate (with existing and projected rents)
Apt 1 : First floor. Bedroom, living, kitchen, small full bath, north/west exposure, beautiful tall ceilings, non-functioning fireplace. Not remodeled. Manager’s unit $1,060/month. Current Rent Board price $1,266. Estimated remodeled market rent $2,300 – $2,650 after remodeling. Will be Vacant by end of April. Eligible for adjustment to market rent
Apt 2 : First floor. Largest unit. Remodeled in 2018. Bedroom, living room, dining room with gorgeous, original floor-to-ceiling built-in cabinet, large, open modern kitchen & bathroom, east/west/south exposure, direct access to back yard. New central heating system (2021), tall ceilings. Current rent $2,850/month.
Apt 3: Second floor. Unit remodeled in 2016. Large bedroom, living room and dining room, access to upstairs back yard deck, east/north exposure, with a small western exposure as well. Current rent $2,600/month.
Apt 4: Second floor. Unit remodeled in 2019. Large bedroom, living room and dining room, access to upstairs back yard deck, east/south exposure. Current rent: $2500/month
Apt 5: Second floor. Unit remodeled in 2017. Bedroom, entry room/dining room, breakfast bar, small private balcony with west view, south/west/north exposure, light-filled apartment Current Rent Board: $2,250. Eligible for adjustment to market rent. Vacant: Eligible for adjustment to market rent
Apt 6: First floor rear entry. Unit remodeled in 2008. Bedroom, living room open to kitchen, bathroom, direct access to back yard, private entry, east/north exposure. Vacant: Eligible for adjustment to market rent. Last rent $1900.
You can't get closer to the University of California, Berkeley campus than South Berkeley, the neighborhood originally developed in the 1860s by the school’s predecessor, the College of California. The latter institution may be long gone, but the large, spacious, brown-shingled homes along Allston, Bancroft, Channing, and Dwight ways remain. Densely populated, the neighborhood contains some of the city’s oldest homes. South Berkeley is a mix of students, longtime residents, businesses, and homes. The major thoroughfares are Telegraph Avenue, Bancroft Way, and Alcatraz Avenue, where street vendors, bookstores, record shops, and inexpensive eateries cater to students. Nightlife is abundant, thanks to the proximity to campus, Zellerbach Hall, and Downtown Berkeley. Both the Ashby and Downtown Berkeley BART stations serve the neighborhood, as do a number of Alameda-Contra Costa Transit buses, making it a snap to get to downtown San Francisco, local airports, sports stadiums, and other locations in the Bay Area.