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(408) 425-9359
Real Estate Company
2429 San Pablo AVE, Berkeley, CA 94702
- $1,198,000
- 4
- BD
- 2,352
- SqFt
Listed by Eymon Binesh, 650-546-1030 from Marcus & Millichap
(If provided) CoList: from
- List Price
- $1,198,000
- MLS#
- ML82063628
- Status
- ACTIVE
- Zoning
- C-W
- Sqft. of Residence
- 2,352
- Lot Size
- 5,400
- Listing Area
- Berkeley Map Area 7
Property Description
Four-Unit Value-Add Opportunity in Berkeleys West Berkeley Corridor! This uniform four-unit multifamily asset has four 1-bedroom, 1-bathroom apartments at 588 SF each (2,352 SF total) on a 0.12-acre lot, with four dedicated surface parking spaces. Three of the four units are leased (75% occupied), and the vacant unit lets a buyer set it at the $2,500 market rent on day one. In-place rents average ~$2,357 per unit, about 6% below market. In-place NOI of ~$69.6K (5.81% cap, 10.59 GRM) grows to a projected ~$76.3K stabilized NOI (6.37% pro forma cap, 9.98 GRM) as the building leases up and rents reach market. Electric and gas are individually metered, keeping owner-paid utilities low. Located along San Pablo Avenue, one of the East Bays most established residential and commercial corridors, near UC Berkeley, regional transit, and local dining and retail. Zoned C-W (West Berkeley Commercial). Priced at $1,198,000 ($299,500/unit, $509/SF).
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Additional Information
- Cooling System
- None
- Days On Market
- Unknown
- Foundation
- Concrete Perimeter
- Garage Parking
- Off-Street Parking
- Heating System
- Gas
- Living Area
- 2,352
- Lot Size
- 5,400
- Neighborhood
- Berkeley Map Area 7
- Other Utilities
- Public Utilities
- Roof
- Rolled Composition
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- Zoning
- C-W
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