2433 San Pablo Ave — Sale in Berkeley, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Berkeley, CA 94702

Photos

2433 San Pablo Ave — Sale in Berkeley, CA, photo 1 of 2
2433 San Pablo Ave — Sale in Berkeley, CA, photo 2 of 2

Investment Figures

Cap rate
5.38%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Fully Occupied 4-Unit Value-Add Opportunity on Berkeley’s San Pablo Avenue Corridor! This uniform four-unit multifamily asset has four 1-bedroom, 1-bathroom apartments at 588 SF each (2,352 SF total) on a 0.13-acre lot, with four off-street surface parking spaces. 100% occupied, with in-place rents averaging ~$2,258 per unit, about 10% below the $2,500 market rent. In-place NOI of ~$64.5K (5.38% cap, 11.05 GRM) grows to a projected ~$75.7K stabilized NOI (6.32% pro forma cap, 9.98 GRM) as rents move to market. Electric and gas are individually metered. Located on the San Pablo Avenue commercial corridor in West Berkeley (zoned C-W), the property benefits from steady renter demand. Priced at $1,198,000 ($299,500/unit, $509/SF). Investment Highlights: • Fully occupied 4-unit asset with uniform 1BD/1BA layouts (588 SF each) and 4 off-street surface parking spaces on the San Pablo Avenue corridor in West Berkeley. • In-place rents ~10% below market ($2,258 avg vs. $2,500), with a 5.38% current cap rate rising to a 6.32% pro forma cap as rents move to market. • Individually metered electric and gas, offered at $1,198,000 ($299,500/unit, $509/SF), a lower-cost entry into Berkeley multifamily with built-in rent upside.

Market Context

This multifamily in Berkeley, CA is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Berkeley, CA — view the full market.

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Questions to ask the broker

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  • What is the asking price?
  • What is the current zoning, and does it allow my intended use?
  • How many parking spaces come with the property?

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