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Listed by Eymon Binesh • Marcus & Millichap
$ 1,198,000
Est. payment | /mo
2,352 SqFt
$ 1,198,000
Est. payment | /mo
2,352 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,352 sqft
Price per Sqft $509
MLS Listing ID ML82063627
HOA Y/N No
Year Built 1942
Lot Size 5,450 Sqft
Property Sub-Type Quadruplex
Source Datashare MLSListings
Property Description
Fully Occupied 4-Unit Value-Add Opportunity on Berkeley's San Pablo Avenue Corridor! This uniform four-unit multifamily asset features all one-bedroom, one-bathroom apartments at 588 SF each, plus four surface parking spaces a rare and valuable amenity in this walkable Berkeley submarket. 100% occupied with in-place rents currently running 8% below market, the property offers investors dependable in-place income (5.38% cap rate) plus clear upside as rents move toward market levels (6.13% pro forma cap). Individually metered electric and gas keep operating costs predictable, while the property's location along the vibrant San Pablo Avenue corridor steps from local restaurants, cafes, and neighborhood retail supports strong, consistent renter demand. Zoned C-W (West Berkeley Commercial) under the Avenue Commercial General Plan, this well-positioned asset combines a clean, easy-to-manage unit mix with genuine rent growth potential in one of the East Bay's most enduring rental markets. Priced at $1,198,000 ($299,500/unit, $509/SF).
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling No Air Conditioning
Fireplace No
Building
Water Public
Schools
School District Berkeley (510) 644-6150, Berkeley (510) 644-6150
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Adam Shoop
Broker Associate at LPT Realty Lic# 1782227