NOT LISTED FOR SALE

2227 McGee Ave Berkeley, CA 94703

Downtown Berkeley Neighborhood

Estimated Value: $919,000 - $1,089,000

-- Bed
3 Baths
2,465 Sq Ft
$398/Sq Ft Est. Value

Last Sold March 30, 2023

Last sale price $860,000 $349 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $6,780/month

105 Days on Market

About This Home

As of March 2023

Triplex for Sale in Strong Central Berkeley Location! Property features (3) FULLY OCCUPIED, 2 bed/1bath Units, all currently Occupied Generating $66,792 in Annual Income. Huge Upside in Rents Allowing for a Potential 8% Market Cap! 2227 McGee is a Stable Investment Property in a Quiet Tree Lined Street Just Moments from the Cultural Amenities of Downtown Berkeley. NO SHOWINGS UNTIL TOUR February 21st from 11 to 1pm.

Last Listed By

Neel Bhatia

Coldwell Banker Realty License #01464424 Listed on: 11/09/2022

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,693

Year Built

  • 1921

Lot Details

  • 5,201 Sq Ft Lot

Parking

  • On-Street Parking

Home Design

  • Triplex
  • Shingle Roof

Interior Spaces

  • 2,465 Sq Ft Home
  • 1-Story Property

Listing and Financial Details

  • Total Actual Rent $66,792

Community Details

Overview

Building Details

  • 3 Leased Units
  • Insurance Expense $1,109
  • Maintenance Expense $1,500
  • Other Expense $7,000
  • Utility Expense $2,080
  • Trash Expense $1,200
  • Operating Expense $22,505
  • Gross Income $65,456

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,693

Year Built

1921

Lot Details

0

Listing Details

  • Zoning: NA
  • Subclass: Triplex
  • Age: 101
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2465
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1921

Interior Features

  • Living Sq Ft: 2465
  • Stories: 1

Exterior Features

  • Roof: Shingle

Garage/Parking

  • Garage Parking Features: On Street

Utilities

  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Berkeley Unified

Lot Info

  • Lot Acres: 0.1194
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5200.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5200.00

Rental Info

  • Existing Lease Term(s): Lease Agreement - Written
  • Gross Rent Multiplier: 11.83
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1109
  • Expense Maintenance: 1500
  • Expenses Other: 7000
  • Expenses Total: 22505
  • Expenses Utility: 2080
  • Expense Trash: 1200
  • Income Annual Gross: 65456.00
  • Income Annual Rental: 66792
  • Income Gross Scheduled: 66792
  • Income Includes: Rents
  • Meters: Master Water, Separate Common Area, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Other Taxes
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 14, 2023
Sold by
Yasin Arif
Bought by
Firdous Garden Trust and Arif
Total Days on Market
105
Current Estimated Value
$982,208

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$688,000
Interest Rate
5.76%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 9, 2022
Closed on
Mar 22, 2023
Sold by
James Patricia A
Bought by
Patricia A James Revocable Living Trust
Seller's Agent
Neel Bhatia
Coldwell Banker Realty
Buyer's Agent
RECIP
Out of Area Office
List Price
$790,000
Sold Price
$860,000
Premium/Discount to List
$70,000
8.86%
Views
45

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.56%
Original Mortgage
$688,000
Interest Rate
5.76%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 9, 2022
Closed on
Mar 16, 2023
Sold by
Patricia A James Revocable Living Trust
Bought by
Yasin Arif
Seller's Agent
Neel Bhatia
Coldwell Banker Realty
Buyer's Agent
RECIP
Out of Area Office
List Price
$790,000
Sold Price
$860,000
Premium/Discount to List
$70,000
8.86%
Views
45

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$688,000
Interest Rate
6.32%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 19, 2018
Sold by
Bailey David L and Patricia A James Trust
Bought by
Rlt Bailey David L and Rlt Patricia A James

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Firdous Garden Trust -- None Listed On Document
Yasin Arif $860,000 Old Republic Title Company
Yasin Arif -- Old Republic Title Company
Rlt Bailey David L -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Yasin Arif $688,000
Previous Owner Yasin Arif $688,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/30/2023 03/30/23 Sold $860,000 +8.9% $349 / Sq Ft
02/23/2023 02/23/23 Pending -- -- --
02/08/2023 02/08/23 For Sale $790,000 0.0% $320 / Sq Ft
02/08/2023 02/08/23 Price Changed $790,000 -8.1% $320 / Sq Ft
12/20/2022 12/20/22 Off Market $860,000 -- --
11/09/2022 11/09/22 For Sale $1,180,000 -- $479 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $15,693 $877,200 $263,160 $614,040
2023 $9,666 $389,023 $116,707 $272,316
2022 $9,402 $381,395 $114,418 $266,977
2021 $9,364 $373,918 $112,175 $261,743
2020 $8,644 $370,085 $111,025 $259,060
2019 $8,066 $362,830 $108,849 $253,981
2018 $7,878 $355,717 $106,715 $249,002
2017 $7,577 $348,743 $104,623 $244,120
2016 $7,177 $341,905 $102,571 $239,334
2015 $7,058 $336,771 $101,031 $235,740
2014 $7,077 $330,175 $99,052 $231,123
Source: Public Records

Agents Affiliated with this Home

  • Neel Bhatia

    Seller's Agent in 2023

    Neel Bhatia

    Coldwell Banker Realty

    (408) 828-4024

    1 in this area

    15 Total Sales

    Neel Bhatia
    Section Image

  • R

    Buyer's Agent in 2023

    RECIP

    Out of Area Office

See All Agents

Map

Source: MLSListings

MLS Number: ML81912618

MLSListings

APN: 056-2009-026-00

California Alameda County Berkeley 94703 Downtown Berkeley

2227 McGee Ave, Berkeley, CA

Homes for Sale in Berkeley, CA

This home is located at 2227 McGee Ave, Berkeley, CA 94703 since 09 November 2022 and is currently estimated at $982,208, approximately $398 per square foot. This property was built in 1921. 2227 McGee Ave is a home located in Alameda County with nearby schools including Washington Elementary School, Berkeley Arts Magnet at Whittier School, and Oxford Elementary School.

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