6-Units | Ashby

Ashby is one of Berkeley’s most strategically positioned neighborhoods for apartment investment, offering the rare combination of urban accessibility, neighborhood character, and enduring rental demand. Anchored by the Ashby BART station and situated near major corridors like Adeline Street, Telegraph Avenue, and Shattuck Avenue, the area gives residents convenient access to UC Berkeley, Downtown Berkeley, Oakland, San Francisco, and the broader East Bay employment base. For multifamily owners, this connectivity supports a broad tenant pool that includes students, university affiliates, young professionals, commuters, and long-term Berkeley residents. The neighborhood’s appeal is strengthened by its walkable, culturally rich environment. Ashby is known for its mix of historic homes, small apartment buildings, local cafés, independent shops, community institutions, and proximity to South Berkeley and Elmwood amenities. This blend creates a residential setting that feels established and authentic while still benefiting from Berkeley’s strong regional brand. Investors in apartment buildings can position properties around lifestyle fundamentals that continue to matter to renters: transit access, neighborhood identity, access to education and jobs, and proximity to dining, retail, and recreation. For real estate investors, Ashby offers compelling long-term fundamentals within a supply-constrained Berkeley market. Multifamily assets in the neighborhood may benefit from consistent renter demand, limited new housing supply, and the stability associated with a high-barrier-to-entry university city. Apartment buildings that are well maintained, thoughtfully upgraded, and priced appropriately can appeal to tenants seeking both convenience and character. As Berkeley continues to attract residents drawn to the East Bay’s academic, cultural, and employment opportunities, Ashby remains a neighborhood worth watching for durable multifamily investment potential. Scores Walk Score - 94 Transit Score - 61 Bike Score - 1003411 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.