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Listed by Eymon Binesh • Marcus & Millichap, DRE#02060059
$ 1,198,000
Est. payment /mo
New
2429 San Pablo AVE Berkeley, CA 94702
4 Beds
4 Baths
2,352 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,352 sqft
Price per Sqft $509
MLS Listing ID ML82063628
Bedrooms 4
Full Baths 4
Year Built 1942
Lot Size 5,400 Sqft
Property Sub-Type Fourplex
Property Description
Fully Occupied 4-Unit Value-Add Opportunity in Berkeley's West Berkeley Corridor! This uniform four-unit multifamily asset features all one-bedroom, one-bathroom apartments at 588 SF each, with four dedicated 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 (5.40% cap rate) plus clear upside as rents move toward market levels (6.17% pro forma cap). Individually metered electric and gas keep operating costs predictable, while the property's location along San Pablo Avenue one of the East Bay's most established residential and commercial corridors supports strong, consistent renter demand. Close to UC Berkeley, regional transportation, and vibrant retail and dining, this well-positioned asset combines a clean, easy-to-manage unit mix with genuine rent growth potential in a supply-constrained multifamily market. Priced at $1,198,000 ($299,500/unit, $509/SF).
Location
State CA
County Alameda
Area Berkeley Map Area 7
Zoning C-W
Interior
Heating Gas
Cooling None
Exterior
Parking Features Off-Street Parking
Utilities Available Public Utilities
Roof Type Rolled Composition
Building
Story 2
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Level or Stories 2
Others
Tax ID 056-1928-022
Security Features None
Horse Property No
Special Listing Condition Not Applicable
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