5-Units | Elmwood

Elmwood is one of Berkeley’s most coveted rental markets, known for its historic character, tree-lined streets, and walkable lifestyle. With its charming mix of Craftsman and Tudor-style properties, Elmwood consistently attracts a strong tenant base seeking both convenience and community. Anchored by College Avenue’s boutique retail, cafés, and top-rated restaurants, the neighborhood offers a “village within the city” atmosphere that commands premium rents. Investors benefit from the enduring appeal of Elmwood, where vacancy rates remain low and tenant demand is consistently strong. Proximity to UC Berkeley is a significant driver of rental stability and growth. The neighborhood draws a diverse mix of students, faculty, and professionals, ensuring a reliable tenant pipeline. Properties in Elmwood often achieve above-market rents on a per-bedroom basis, particularly when configured for student housing or co-living arrangements. Transit access is another advantage—residents enjoy convenient bus lines along College Avenue and nearby BART stations at Ashby and Rockridge, providing efficient connections to Oakland, San Francisco, and beyond. This combination of demand drivers makes Elmwood a submarket where assets consistently outperform broader East Bay averages in terms of occupancy and rent growth. The neighborhood’s lifestyle amenities further reinforce its investment strength. Tenants value close access to Willard Park, the Claremont Club & Spa, and scenic Berkeley Hills hiking trails, all while being minutes from Downtown Berkeley and the UC campus. Strong schools and a family-friendly atmosphere also expand the tenant profile beyond students, broadening demand across multiple renter categories. For investors, Elmwood represents not only a stable and resilient rental submarket, but also one with long-term appreciation potential supported by high barriers to entry and limited supply of multifamily housing. Scores Walk Score - 95 Transit Score - 60 Bike Score - 92This property offers a diverse and flexible unit mix, including a studio, two one-bedroom units, a two-bedroom/1.5-bath unit, and a three-bedroom/two-bath unit. With three of the units and a basement space delivered vacant, the building provides an exceptional opportunity for both investors and owner-occupiers. Investors have the ability to set market rents and hand-pick tenants, while an owner-occupant can enjoy immediate income support from the leased units. Fully occupied, the property is projected to generate over $14,223 per month in gross rental income, making it a strong long-term investment with stable cash flow potential. The property is designed for tenant convenience and long-term retention. Each unit is separately metered for gas and electricity, keeping operating costs low and simplifying management. Tenants also benefit from onsite amenities including a coin-operated laundry facility, 2–3 off-street parking spaces, and a shared backyard—an attractive feature that enhances livability and overall appeal. With multiple value-add options available, the property provides a range of opportunities to reconfigure, expand, or further improve income potential. Location is another key strength. Ideally situated on the border of Elmwood and Rockridge near College Avenue and Alcatraz, the property is steps from Safeway, Philz Coffee, and an array of shops, restaurants, and cafés that make the area so desirable. Residents also enjoy excellent connectivity, with easy access to Rockridge BART, AC Transit, and major freeways including CA-24 and I-580. This prime setting offers both lifestyle and convenience, making the property a highly attractive option for a wide variety of tenants and a strong investment for the future.