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+16617472581
Legacy Real Estate Inc
3263 Belmont Ave, El Cerrito, CA 94530
- $2,495,000
Listed by Ethan Berger, (925) 588-9740 from NAI Northern California
(If provided) CoList: from
- List Price
- $2,495,000
- MLS#
- EB41150291
- Status
- ACTIVE
- Lot Size
- 9,265
- Listing Area
- El Cerrito
- Year Built
- 1963
Property Description
Belmont Apartments presents a rare opportunity to acquire an 8-unit, transit-oriented multifamily asset in one of the East Bay's most accessible and renter-friendly submarkets. Located just 0.5 miles from El Cerrito Plaza BART and I-80, the property offers exceptional connectivity to San Francisco, Oakland, and major employment centers, with a Walk Score of 89 and immediate access to retail and daily amenities. The property features a highly desirable 100% two-bedroom unit mix, with current rents averaging $2,180/unit-approximately 16% below the East Bay average and significantly below recent asking rents in nearby Berkeley and Albany. HUD FMRs of $2,912-$3,203 further support substantial mark-to-market potential through natural turnover. Recent capital improvements include new appliance packages in 7 of 8 units, updated flooring, 2026 exterior painting, electrical sub-panel replacements, sewer lateral replacement, completed soft-story seismic retrofit, and SB 721 compliance. Additional NOI upside may be achieved through RUBS, with potential recovery of 60-80% of master-metered water and trash expenses. El Cerrito is subject to California's AB 1482 framework, with no local rent control and a nominal annual rent registry fee. With strong transit access, an ideal unit mix, below
Additional Information
- Acres
- 0.21
- Amenities
- None
- Cooling System
- None
- Floor Covering
- Laminate, Linoleum, Carpet - Wall to Wall
- Garage Parking
- Spaces per Unit - 1
- Heating System
- Wall Furnace
- Lot Description
- Grade - Level
- Lot Size
- 9,265
- Neighborhood
- El Cerrito
- Numberof Units
- 8
- Roof
- Tar and Gravel
- Unincorporated Yn
- Yes
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