2935 Florence St, Berkeley, California 94705, Berkeley, 94705 - 5 bed, 4 bath
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Berkeley, California 94705
This Prime Investment Opportunity is listed at $1,749,000—positioned well below the $1,801,277 Fair Market Value by 2%. This valuation gap provides $52,277 in Instant Equity. Featuring a Condition Rating of 3, this property includes a classic main residence and a separate duplex, offering significant rental income potential. Located in the desirable Elmwood neighborhood near top-rated schools and Ashby BART, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a flexible, income-generating property with a private patio.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2935 Florence St Subject | $1,749,000* List Price | 5 | 4 | 3,176 | $567 | - |
A 2300 Ashby Ave Sold | $1,500,000 | 4 | 3 | 2,171 | $691 | 0.2 mi |
B 2607 Alcatraz Ave Active | $1,595,000 List Price | 5 | 3 | 2,511 | $635 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1912 but features significant modern updates and is well-maintained. The kitchen has been refreshed with painted cabinetry and stainless steel appliances, and the bathrooms show modern tile work. The property is move-in ready and functional, consistent with a 5-15 year renovation profile.
The unique configuration of a classic main residence plus a separate duplex on a single lot provides significant rental income potential or flexible multi-generational living options in a high-demand neighborhood.
Boasting an exceptional walk score, the property is situated moments from College Avenue shops, Whole Foods, and Alta Bates, with Ashby BART less than a mile away for easy commuting.
This 1912 home preserves its historic Berkeley charm with original details, including near floor-to-ceiling windows and period built-ins, seamlessly blended with modern kitchen and landscaping updates.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 4500, living area = 3176.
The corner lot location near Ashby Avenue, a major thoroughfare, likely subjects the property to higher ambient noise levels and increased traffic congestion.
Accommodating three units on a 4,500-square-foot lot results in high density, which may limit private outdoor space and create challenges for on-site parking.
Rare Elmwood opportunity at 2935 Florence Street — classic Berkeley home plus duplex on a shared lot. Corner location near Ashby Ave, just moments to College Avenue shops, restaurants, and Whole Foods. Main home features original details with modern updates, expansive light-filled living room with near floor-to-ceiling windows and brick fireplace, dining area with French doors to private porch, refreshed kitchen with painted cabinetry and stainless steel appliances, lower-level powder room, and newly landscaped fenced yard. Upstairs offers three spacious bedrooms and a shared bath. Duplex includes two similar one-bedroom, one-bath units with bright living rooms, hardwood floors, and period built-ins — ideal for rental income. Close to Alta Bates, Telegraph Ave, and under one mile to Ashby BART.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 3,176 | 2,200 |
| Lot Size | 4,500 | 5,160 |
| Price | $1.75M | $1.70M |
| Price per sq ft | $551 | $997 |
| Built year | 1912 | 1926 |
| HOA | $0 | $500 |
| Days on market | 14 | 31 |
Jul 8, 2026
$1,749,000
Initial Listing
Jan 12, 2023
$1,675,000
Public Record