# House Hacking in Berkeley (94703): Ashby BART TOD plus Middle Housing by-right flats · The Rent Hacker

> Berkeley 94703 for house hackers: Ashby BART's West Lot TOD (about 618 units) plus the Adeline Corridor Specific Plan's ~1,400-unit vision, layered over Middl

Canonical: https://therenthacker.com/house-hacking/berkeley-ashby-94703/
Source: The Rent Hacker (https://therenthacker.com/). License: RSL, attribution required — https://therenthacker.com/license.xml

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[East Bay guide](/house-hacking/east-bay/) · Tier A · Rank #13 of 87

# House hacking in Berkeley (South-central flats / Ashby BART).

Ashby BART's West Lot TOD (about 618 units) plus the Adeline Corridor Specific Plan's ~1,400-unit vision, layered over Middle Housing by-right flats.

## What's actually happening in 94703

-   Board-approved
    
    Ashby BART West Lot TOD: about 618 units, approved by the BART Board July 2025. [BART](https://www.bart.gov/about/business/tod/ashby)
    
-   Plan vision
    
    Adeline Corridor Specific Plan: a roughly 1,400-unit corridor vision. City of Berkeley
    
-   Entitled / approved
    
    Entitled and approved towers: 3000 Shattuck (166 units), 2655 Shattuck (97 units). City of Berkeley
    
-   Adopted
    
    Middle Housing ordinance: 2–8 units by-right on flats, effective 2025-11-01. [City of Berkeley](https://berkeleyca.gov/construction-development/land-use-development/middle-housing-zoning)
    

## The numbers

Median price

~Berkeley proxy (no ZIP median this run)

Market rent

2bd $2,700 / 3bd $3,300 whole-home (underwriting band)

Property tax (Alameda County)

~1.93% effective at the ZIP level (Berkeley citywide ~1.78%; high parcel taxes)

Per-bed rent band

$1,150–1,550/mo per bed

ADU rent band

$2,000–2,600/mo

Whole-home rent band

2bd $2,700 / 3bd $3,300 whole-home

Underwriting vacancy

4% underwriting vacancy

Appreciation scenarios

2.0 / 3.5 / 4.5 %/yr (conservative / base / upside)

Caution: Alta Bates Ashby acute care relocates to Emeryville around 2032–33, shifting hospital-tenant demand. Appreciation basis: Ashby TOD plus the Adeline corridor; old flats at high capex; tax ~1.93%. Rent bands are city-level medians; confirm the specific parcel before trusting any of them. [Run your own scenario in the calculator](/calculator/).

## Buildings we underwrote in 94703

8 buildings in 94703 carry a record. 0 beat renting and index funds; the rest did not. Every row links to its own page, with the numbers it was scored on.

Property

At our defaults

Status

[1804 Derby St](/property/rh-izwcez/1804-derby-st/) 2 units · $775,000

−$298,032 S&P 500

Underwritten — the index wins at our defaults

[1542 Addison St](/property/rh-lfxcjs/1542-addison-st/) 2 units · $750,000

−$348,760 S&P 500

Underwritten — the index wins at our defaults

[1530 Stuart St](/property/rh-fsf1mw/1530-stuart-st/) 2 units · $849,000

−$453,942 S&P 500

Underwritten — the index wins at our defaults

[1841 Cedar St](/property/rh-f1pd0v/1841-cedar-st/) 2 units · $999,000

−$777,184 S&P 500

Underwritten — the index wins at our defaults

[1614 Russell St](/property/rh-lcaznq/1614-russell-st/) 2 units · $1,195,000

−$942,788 S&P 500

Underwritten — the index wins at our defaults

[1522 Harmon St](/property/rh-k6shj7/1522-harmon-st/) 2 units · $1,695,000

−$1,270,685 S&P 500

Underwritten — the index wins at our defaults

[2045 Emerson St](/property/rh-adqew0/2045-emerson-st/) 2 units · $1,500,000

−$1,348,059 S&P 500

Underwritten — the index wins at our defaults

[1900 Woolsey St](/property/rh-1fdcfg/1900-woolsey-st/) 2 units · $1,899,000

−$2,118,162 S&P 500

Underwritten — the index wins at our defaults

The full [board](/board/) shows every region's current week; this table is every record we hold for 94703, newest basis first.

## The house-hack angle

Middle Housing flats within walking distance of Ashby BART; room rentals to a UC and hospital tenant mix while the Alta Bates transition plays out.

## What breaks it

-   Alta Bates Ashby acute care relocates ~2032–33: hospital-tenant demand shifts
-   ZIP-level tax ~1.93% (high parcel taxes) is the metro's steepest and needs commensurate rent coverage
-   Old flats carry high capex

This page is the standing analysis. The weekly part, actual Berkeley-area listings that pass the math, lands on the East Bay board every Wednesday.

[This week's East Bay board](/board/sf-east-bay/)

[This week's East Bay board](/board/sf-east-bay/) · [Read past East Bay issues](/issues/sf-east-bay/) · [Every pick, on the record](/track-record/) · [How a deal becomes a pick](/methodology/)

Data synthesized 2026-07-04, catalysts re-verified 2026-07-15. Mortgage-rate basis: 6.43% (Freddie Mac PMMS, week of 2026-07-02). Sources are the public planning documents and market listings named above, fetched on the synthesis date. Nothing here is investment advice; every deal needs a bindable insurance quote and parcel-level verification.