2429 San Pablo AVE, Berkeley, CA 94702
2429 San Pablo AVE, Berkeley, CA 94702
2429 San Pablo AVE, Berkeley, CA 94702
2429 San Pablo AVE, Berkeley, CA 94702
2429 San Pablo AVE, Berkeley, CA 94702
2429 San Pablo AVE, Berkeley, CA 94702
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Domenika Reusche

Domenika Reusche

+1(408) 694-8812
Listed by Eymon Binesh, DRE #02060059 • Marcus & Millichap
$ 1,098,000
Est. payment | /mo

4 Beds

4 Baths

2,352 SqFt

Save
$ 1,098,000
Est. payment | /mo
Save

4 Beds

4 Baths

2,352 SqFt

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,352 sqft

Price per Sqft $466

MLS Listing ID ML82063628

Bedrooms 4

Full Baths 4

Year Built 1942

Lot Size 5,400 Sqft

Property Sub-Type Fourplex

Source MLSListings, Inc.

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).

Location

State CA

County Alameda

Area Berkeley Map Area 7

Zoning C-W

Interior

Heating Gas

Cooling None

Exterior

Parking Features Off-Street Parking

Garage Spaces 4.0

Utilities Available Public Utilities

Roof Type Rolled Composition

Building

Foundation Concrete Perimeter

Sewer Sewer - Public

Water Public

Others

Tax ID 056-1928-022

Special Listing Condition Not Applicable

MLS Listing IDX PLUS
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Domenika Reusche

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(408) 694-8812

domenika.realestate@gmail.com

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2429 San Pablo AVE