Residential Income Triplex
3029 WHEELER STREET Berkeley, CA 94705
3029 WHEELER STREET, Berkeley, CA, 94705
$1,995,000
Pending
For Sale
$1,995,000
Pending
MULTI_FAMILY - Berkeley, CA
Property Size3,439 SF
Lot Size0.14 Acres
Days on Market91
Property Features for 3029 WHEELER STREET
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 7
- Rooms
- Bedroom 6, Bathroom 7, Bedroom 2, Bathroom 6, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 3
- Parking features
- Off Street, Covered, Assigned, Parking Lot
- Interior features
- Updated Baths, Updated Kitchen, Storage, Tub w/Shower Over
- Exterior features
- Back Yard, Side Yard, Storage, Low Maintenance
- Fencing
- Fenced
- Fireplace
- 1
- Appliances
- Gas Water Heater, Tankless Water Heater
- Standard status
- Pending
- APN
- 52158430
- Size
- 3,439 SF
- Lot size
- 0.14 Acres
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Zoned, Heat Pump (Heating)
- Cooling system
- Multi Units, Heat Pump
Building Details
- Year built
- 1908
- Number of units
- 3
- Flooring type
- Hardwood, Tile
- Building materials
- Wood Siding
- Roof type
- Composition
- Additional Structures
- Storage
Listing agency
KW Advisors East Bay
(510) 775-1079
Listed by
David Gunderman · License #01313613
(510) 205-4369
Added: Apr 22 Updated: Jul 11 at 8:30AM Checked: Jul 21 at 3:06PM
MLS# 41131869
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This residential income triplex property features three fully rebuilt living spaces totaling 3,439 square feet, offering flexibility for multigenerational living or income. The main home is a 3-bedroom, 3.5-bath layout with oak flooring throughout, a chef’s kitchen with a generous island and French doors opening to the backyard, and additional lower-level space including an ensuite bedroom, office, powder room, and ample storage. Upstairs, two more bedrooms include a primary suite with a walk-in closet and spa-like split bath, plus a second bedroom and modern hall bath.
An attached 1-bedroom, 1-bath au pair apartment shares a connection to the main home but includes its own entrance, a new full kitchen, a covered porch, and a modern bathroom that can also support private office use. A detached, two-story ADU provides a 2-bedroom, 1.5-bath guest-house configuration with a kitchen, living area, laundry, and generous storage.
Updates include zoned heat, mini-splits with A/C in both ADUs, roof, foundation, electrical wiring and panels, windows, and newly built kitchens and bathrooms with brand-new appliances. The landscaped level backyard includes a large lawn and multiple patios. The property offers multiple off-street parking spaces, a custom metal privacy gate, and additional storage, and it is sewer lateral compliant. It is described as being just blocks from BART, Whole Foods, and Berkeley Bowl.
An attached 1-bedroom, 1-bath au pair apartment shares a connection to the main home but includes its own entrance, a new full kitchen, a covered porch, and a modern bathroom that can also support private office use. A detached, two-story ADU provides a 2-bedroom, 1.5-bath guest-house configuration with a kitchen, living area, laundry, and generous storage.
Updates include zoned heat, mini-splits with A/C in both ADUs, roof, foundation, electrical wiring and panels, windows, and newly built kitchens and bathrooms with brand-new appliances. The landscaped level backyard includes a large lawn and multiple patios. The property offers multiple off-street parking spaces, a custom metal privacy gate, and additional storage, and it is sewer lateral compliant. It is described as being just blocks from BART, Whole Foods, and Berkeley Bowl.
Key Highlights
- Three distinct, fully rebuilt living spaces totaling 3,439 sq ft: main home plus attached au pair apartment and detached 2‑story ADU
- Main home: 3BD/3.5BA with 2,212 sq ft, oak flooring, and fireplace; includes lower‑level bedroom with ensuite and upstairs primary suite
- Attached 1BD/1BA au pair/private office: 378 sq ft with new full kitchen and modern bathroom; separate entrance and covered porch
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $117.6k | $34.20 |
| − Vacancy | −$6.1k | −$1.78 |
| EGI | $111.5k | $32.42 |
| − OpEx | −$33.4k | −$9.73 |
| NOI | $78.0k | $22.70 |
3,439 SF · lease $34.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$975.6K – $1.30M
NOI $78,049 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$976.5K
$854.4K – $1.14M
NOI $68,353 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $93,101 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Three fully rebuilt living spaces with separate entries, new systems, and multiple off-street parking in a landscaped backyard setting.
Where is this triplex located?
The property is located at 3029 WHEELER STREET Berkeley, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Three distinct, fully rebuilt living spaces totaling 3,439 sq ft: main home plus attached au pair apartment and detached 2‑story ADU; Main home: 3BD/3.5BA with 2,212 sq ft, oak flooring, and fireplace; includes lower‑level bedroom with ensuite and upstairs primary suite; Attached 1BD/1BA au pair/private office: 378 sq ft with new full kitchen and modern bathroom; separate entrance and covered porch
