2610 College Ave · Berkeley, CA 94704

$2,099,000

9 bd · 5.0 ba · 3,435 sqft · MultiFamily public records · 31 Days on market

Built 1903 7,950 sqft lot Est $2113k · at est.

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +7.8/15.0
• Schools +5.7/10.0
• Appreciation +5.1/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Rare investment opportunity on iconic College Avenue in Berkeley. This expansive single-family property features specialized use potential and flexible living configurations ideal for investors, owner-occupants, or income-focused buyers. The main residence offers four bedrooms, two bathrooms, oversized living spaces, basement access, and multiple generously sized bedrooms. Two rooms share access to a private patio deck, creating additional outdoor appeal. A separate section of the property includes seven additional bedrooms — six located on the upper level — along with two kitchens, two bathrooms, and attic access, offering versatile occupancy and layout possibilities. The property also features an attached art studio with a private entrance and dedicated bathroom. Currently operated in a manner similar to single-room occupancy (SRO) use, the property presents multiple potential income-producing opportunities, subject to buyer verification and local regulations. Possible uses may include owner-occupancy with supplemental rental income or maximizing rental potential across multiple sections. Conveniently located near shops, dining, transit, and neighborhood amenities, this property offers strong long-term investment potential. Property could benefit from and may require updates and improvements, providing an opportunity to increase ROI. Buyer to investigate and verify permit status, bedroom and bathroom count, and square footage of all living areas to their satisfaction.Buyer to verify current occupancy, rents, tenancy, lease, and expenses to their satisfaction. Property is exempt from BESO as an REO per BESO. Pending exemption certificate.

Key facts

• Attached art studio
• Private patio deck
• 7,950 sq ft lot

Tags

• PRIVATE PATIO DECK
• ATTACHED ART STUDIO

Property features AI

Exterior

• Parking: Guest parking in a parking lot (5 spaces total)
• Utilities: Public water; Public sewer
• Home design: Commercial multi-unit (5+ units); Built in 1903
• Construction: Wood shingle exterior
• Exterior features: Balcony/Patio; Premium, rectangular lot

Interior

• Flooring: Partial carpeting
• Heating & cooling: Heating present
• Interior features: Built-in storage; Unfinished basement

What this means for you Summary

Snapshot

• This is a 9-bed/5.0-bath multifamily listed at $2.10M.

Deal economics

• At list price, monthly cash flow is $-12k ($-140k/yr) — negative.
• To cash-flow at today's rent, offer at most $632k (69.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $553k (73.6% below list).
• Recommended offer: $553k (73.6% below list) — sets the bar for 1% rule.
• Cap rate -0.4% vs local median 2.0% in Berkeley — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#74 in CA, #2,860 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: crime F, cost of living F.
• Berkeley Unified (urban): math 61% / reading 67% proficiency, ranked #175 of 1,400 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.0%/yr); 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $5,532/mo this rent would consume 132% of the median local household income ($50k/yr) (locally 3047% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($15k loan paydown + $4k appreciation (0.2% local appreciation)).
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$126k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($2.04M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1.75M; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $553,177 (73.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 74% concession, seller financing, or rate buy-down credit?
3. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.26% ✗
• Cap rate: -0.40%
• Cash-on-cash: -23.89%
• DSCR: -0.06
• GRM: 31.6

CMA / ARV

• ARV (on-the-fly): $2,112,525
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2832 Derby St	0.24mi	8/3.0 (-1)	3,292 (-4%)	23mo	$2,025,000	$615	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.21% appreciation · 2.04% rent growth · sell at horizon

5-year hold

• IRR: -29.2%
• Equity multiple: -0.34×
• Total profit: $-790,401
• Equity at exit: $631,416

10-year hold

• IRR: -22.0%
• Equity multiple: -1.32×
• Total profit: $-1,366,235
• Equity at exit: $776,721

Cash invested: $587,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Berkeley: 0 Strongly Tenant-Friendly · D+78

Original CA rent control city; vacancy rent control after Costa Hawkins limits.

Methodology + full state rankings →

ZIP-level market 94704

• Home prices YoY: 0.1%
• Rents YoY: 2.0%
• Active inventory: 32
• Price-to-rent: 31.6×

Monthly cashflow live

• Estimated rent: $5,532 medium
• Mortgage (P&I): −$11,007
• Tax from tax record: −$4,191 /mo · $50,293/yr
• Insurance: −$875
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,162
• Net cashflow: $-11,703

Break-even live

Break-even rent $20,346

Max offer price $632,360

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $524,750
• Closing costs: $62,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2227 Carleton St #3 Berkeley, CA	8.0	4.0	2500	$13,500	$5.40	43d	1	0.54mi

Listing history 34 events

1. 2026-06-18
   days on market $2,099,000 Active 31 DOM
2. 2026-06-17
   days on market $2,099,000 Active 30 DOM
3. 2026-06-16
   days on market $2,099,000 Active 29 DOM
4. 2026-06-15
   days on market $2,099,000 Active 28 DOM
5. 2026-06-13
   days on market $2,099,000 Active 26 DOM
6. 2026-06-13
   days on market $2,099,000 Active 25 DOM
7. 2026-06-09
   days on market $2,099,000 Active 22 DOM
8. 2026-06-08
   days on market $2,099,000 Active 21 DOM
9. 2026-06-07
   days on market $2,099,000 Active 20 DOM
10. 2026-06-04
    days on market $2,099,000 Active 17 DOM
11. 2026-06-03
    days on market $2,099,000 Active 16 DOM
12. 2026-06-02
    days on market $2,099,000 Active 15 DOM
13. 2026-06-01
    days on market $2,099,000 Active 14 DOM
14. 2026-05-31
    days on market $2,099,000 Active 13 DOM
15. 2026-05-20
    listed $2,099,000 Active 1686-char remark

    Show marketing remark (1686 chars)

    Rare investment opportunity on iconic College Avenue in Berkeley. This expansive single-family property features specialized use potential and flexible living configurations ideal for investors, owner-occupants, or income-focused buyers. The main residence offers four bedrooms, two bathrooms, oversized living spaces, basement access, and multiple generously sized bedrooms. Two rooms share access to a private patio deck, creating additional outdoor appeal. A separate section of the property includes seven additional bedrooms — six located on the upper level — along with two kitchens, two bathrooms, and attic access, offering versatile occupancy and layout possibilities. The property also features an attached art studio with a private entrance and dedicated bathroom. Currently operated in a manner similar to single-room occupancy (SRO) use, the property presents multiple potential income-producing opportunities, subject to buyer verification and local regulations. Possible uses may include owner-occupancy with supplemental rental income or maximizing rental potential across multiple sections. Conveniently located near shops, dining, transit, and neighborhood amenities, this property offers strong long-term investment potential. Property could benefit from and may require updates and improvements, providing an opportunity to increase ROI. Buyer to investigate and verify permit status, bedroom and bathroom count, and square footage of all living areas to their satisfaction.Buyer to verify current occupancy, rents, tenancy, lease, and expenses to their satisfaction. Property is exempt from BESO as an REO per BESO. Pending exemption certificate.

16. 2026-05-18
    listed $2,099,000 Active
17. 2025-09-27
    historical $1,500
18. 2025-08-27
    listed $1,500
19. 2021-05-18
    soldstatus $1,750,000 Sold 994-char remark

    Show marketing remark (994 chars)

    This gorgeous and unique property, located in the desirable Elmwood Berkeley neighborhood, is a rare value-added multi-unit property. Zoned for mixed-use and divided into several units, this property has a lot of potential and makes a great addition to your portfolio. The property is used as a rooming house: The first floor features a spacious 3/2 with its own private entrance and balcony, as well as a studio. The second floor has 6 units/bedrooms (12 beds), 2 shared baths, 2 shared kitchens, and a shared balcony. Shared laundry and storage are located in the basement, parking for up to 4 cars, and 10 storage spaces for potential added income. Located at the back of the home is a studio unit (no kitchen, fridge only, and separate bath), with a private entrance. Large unfinished attic, too! The whimsical garden is shaded by redwood trees and offers privacy and peace, as well as a large yoga/meditation studio. Large lot with possibility of 2 ADUs (buyer to verify) and room to grow!

20. 2021-05-18
    soldstatus $1,750,000

    Show marketing remark (994 chars)

    This gorgeous and unique property, located in the desirable Elmwood Berkeley neighborhood, is a rare value-added multi-unit property. Zoned for mixed-use and divided into several units, this property has a lot of potential and makes a great addition to your portfolio. The property is used as a rooming house: The first floor features a spacious 3/2 with its own private entrance and balcony, as well as a studio. The second floor has 6 units/bedrooms (12 beds), 2 shared baths, 2 shared kitchens, and a shared balcony. Shared laundry and storage are located in the basement, parking for up to 4 cars, and 10 storage spaces for potential added income. Located at the back of the home is a studio unit (no kitchen, fridge only, and separate bath), with a private entrance. Large unfinished attic, too! The whimsical garden is shaded by redwood trees and offers privacy and peace, as well as a large yoga/meditation studio. Large lot with possibility of 2 ADUs (buyer to verify) and room to grow!

21. 2021-04-24
    status Pending 994-char remark

    Show marketing remark (994 chars)

    This gorgeous and unique property, located in the desirable Elmwood Berkeley neighborhood, is a rare value-added multi-unit property. Zoned for mixed-use and divided into several units, this property has a lot of potential and makes a great addition to your portfolio. The property is used as a rooming house: The first floor features a spacious 3/2 with its own private entrance and balcony, as well as a studio. The second floor has 6 units/bedrooms (12 beds), 2 shared baths, 2 shared kitchens, and a shared balcony. Shared laundry and storage are located in the basement, parking for up to 4 cars, and 10 storage spaces for potential added income. Located at the back of the home is a studio unit (no kitchen, fridge only, and separate bath), with a private entrance. Large unfinished attic, too! The whimsical garden is shaded by redwood trees and offers privacy and peace, as well as a large yoga/meditation studio. Large lot with possibility of 2 ADUs (buyer to verify) and room to grow!

22. 2021-04-05
    listed $1,608,000 New 994-char remark

    Show marketing remark (994 chars)

    This gorgeous and unique property, located in the desirable Elmwood Berkeley neighborhood, is a rare value-added multi-unit property. Zoned for mixed-use and divided into several units, this property has a lot of potential and makes a great addition to your portfolio. The property is used as a rooming house: The first floor features a spacious 3/2 with its own private entrance and balcony, as well as a studio. The second floor has 6 units/bedrooms (12 beds), 2 shared baths, 2 shared kitchens, and a shared balcony. Shared laundry and storage are located in the basement, parking for up to 4 cars, and 10 storage spaces for potential added income. Located at the back of the home is a studio unit (no kitchen, fridge only, and separate bath), with a private entrance. Large unfinished attic, too! The whimsical garden is shaded by redwood trees and offers privacy and peace, as well as a large yoga/meditation studio. Large lot with possibility of 2 ADUs (buyer to verify) and room to grow!

23. 2021-04-05
    listed $1,608,000

    Show marketing remark (994 chars)

    This gorgeous and unique property, located in the desirable Elmwood Berkeley neighborhood, is a rare value-added multi-unit property. Zoned for mixed-use and divided into several units, this property has a lot of potential and makes a great addition to your portfolio. The property is used as a rooming house: The first floor features a spacious 3/2 with its own private entrance and balcony, as well as a studio. The second floor has 6 units/bedrooms (12 beds), 2 shared baths, 2 shared kitchens, and a shared balcony. Shared laundry and storage are located in the basement, parking for up to 4 cars, and 10 storage spaces for potential added income. Located at the back of the home is a studio unit (no kitchen, fridge only, and separate bath), with a private entrance. Large unfinished attic, too! The whimsical garden is shaded by redwood trees and offers privacy and peace, as well as a large yoga/meditation studio. Large lot with possibility of 2 ADUs (buyer to verify) and room to grow!

24. 2020-07-10
    soldstatus $1,513,637 Sold
25. 2020-07-10
    soldstatus $1,514,000
26. 2020-06-22
    status Pending
27. 2020-06-04
    listed $1,499,000 New
28. 2010-11-05
    soldstatus $950,000
29. 2010-11-05
    soldstatus $950,000
30. 2010-08-17
    historical
31. 2010-08-17
    listed $1,040,000
32. 2010-07-23
    historical
33. 2010-07-15
    listed New
34. 1977-11-18
    soldstatus $115,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $50,293 · $4,191/mo
• Projected year-2 tax: $50,293 · $4,191/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,381
• − Mortgage interest: −$117,577
• − Property taxes: −$50,293
• − Insurance: −$10,495
• − Repairs & maintenance: −$5,310
• − Management: −$5,310
• − Depreciation: −$61,062
• Taxable loss: −$183,666
• Est. tax savings @ 24.0%: +$44,080
• After-tax cash flow: $-96,356/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Berkeley Unified
• NCES district ID: 0604740
• Math proficiency: 61% ▲ 2.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $66,202
• Composite: 57.37/100
• National rank: #2288
• State rank: #175 of 1400 in CA

Livability — Berkeley

• Score: 77/100
• State rank: #74
• US rank: #2860

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing C+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berkeley, CA
• County: Alameda County · 1,614,355 people
• City population: 121,632
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 23,788
• Household income: $50,129
• Rent vs Own: 87.6% rent · 12.4% own
• Severe rent burden: 3047.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Asian 37% White 36% Hispanic / Latino 13% Two or more races 11% Black 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 28% · China, Canada, South Korea
• Languages at home: 58% English-only · Chinese 13% Spanish 9% Other Indo-European 6%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.21%
• Current HPI: 284.0144
• Rent YoY: ▲ 2.04%
• Metro: San Francisco-Oakland-Berkeley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+1725.2% since first listed

20 events — show timeline

• 2026-05-20 Listed $2,099,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-18 Listed $2,099,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-09-27 Rental Removed $1,500 TURBOTENANT
• 2025-08-27 Listed for Rent $1,500 TURBOTENANT
• 2021-05-18 Sold (MLS) $1,750,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-05-18 Sold (MLS) $1,750,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-04-24 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-04-05 Listed $1,608,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-04-05 Listed $1,608,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-07-10 Sold (Public Records) $1,514,000 Public Records
• 2020-07-10 Sold (MLS) $1,513,637 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-06-22 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-06-04 Listed $1,499,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-11-05 Sold (Public Records) $950,000 Public Records
• 2010-11-05 Sold (MLS) $950,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-08-17 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-08-17 Listed $1,040,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-07-23 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-07-15 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1977-11-18 Sold (Public Records) $115,000 Public Records

Property tax history

+13.7%/yr

Latest (2025): $50,293 · +20.6% YoY. Source: county tax records.