Triplex with Vacant
New
For Sale
$1,148,000
3048 Halcyon Ct, Berkeley, CA 94705
Residential Income, Berkeley, CA
Property Size2,753 SF
Lot Size0.11 Acres
Price / SF$416
Days on Market3
Property Features for 3048 Halcyon Ct
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
3
Rooms
Bedroom 3, Basement, Bedroom 1, Bedroom 2
Parking features
Off Street
Window features
Window Coverings
Interior features
Storage, Tub w/Shower Over
Exterior features
Back Yard, Garden
Fencing
Fenced
Fireplace
1
Subdivision
SOUTH BERKELEY
Lot features
Level
High school district
Berkeley (510) 644-6150
Standard status
Active
APN
52157610
Size
2,753 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Forced Air
Water source
Public
Building Details
Year built
1922
Flooring type
Linoleum, Hardwood, Tile
Building materials
Stucco
Additional Structures
Storage
Listing Agency:
The GRUBB Company
(510) 339-0400
Listed By:
Tiffany Lefour · License #02017456
(510) 912-6310
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 12 at 10:06PM
MLS# 41147889
Copyright © 2026 bridgeMLS. 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.
Built in 1922, this 2,753-square-foot triplex on a 0.1127-acre lot includes a two-bedroom, one-bath apartment, a vacant one-bedroom, one-bath unit, and a studio. The units feature maintained hardwood flooring, updated bathrooms, generous windows, and natural light. The stucco property also provides storage, a basement, fenced outdoor areas, a garden, and off-street parking. Heating includes wall furnaces and forced air, with public water and sewer service.
Located at 3048 Halcyon Ct in Berkeley, the property sits across from Halcyon Commons mini park and between Shattuck, Ashby, and Telegraph Avenues, with College Avenue nearby. Berkeley Bowl, Whole Foods, local dining, cafes, and bars are in the surrounding area. Ashby BART is less than one mile away, and UC Berkeley campus is described as an eight-minute ride from the property.
Located at 3048 Halcyon Ct in Berkeley, the property sits across from Halcyon Commons mini park and between Shattuck, Ashby, and Telegraph Avenues, with College Avenue nearby. Berkeley Bowl, Whole Foods, local dining, cafes, and bars are in the surrounding area. Ashby BART is less than one mile away, and UC Berkeley campus is described as an eight-minute ride from the property.
Key Highlights
- 2,753 SF triplex on a 0.1127‑acre lot
- Unit mix includes a 2/1, vacant 1/1, and studio
- Built in 1922 with stucco construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,480
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,600
$1.2M
Cap Rate 7%
$892,571
$892.6K
Cap Rate 9%
$694,222
$694.2K
Market Conditions
NOI Build-Up for 2,753 SF
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.
Gross rent
$94.2K $34.20/SF
− Vacancy
−$4.9K −$1.78/SF
EGI
$89.3K $32.42/SF
− OpEx
−$26.8K −$9.73/SF
NOI
$62.5K $22.70/SF
Area
Berkeley, CA
Vacancy
5.20%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,600
Cap Rate 7%
$892,571
Cap Rate 9%
$694,222
Alternative Uses
Best Use
Multifamily LT 5
$892.6K
$781.0K – $1.04M
NOI $62,480 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$781.7K
$684.0K – $912.0K
NOI $54,718 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$1.06M
$931.6K – $1.24M
NOI $74,529 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 94705, CA
13,591
Population
6,335
Households
2.1
Avg Household Size
42
Median Age
79%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
3,997
Density / Sq Mi
$163,254
Median Household Income
$75,864
Median Earnings
$2,330
Median Rent
$1,892,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer hardwood floors, updated bathrooms, abundant windows, and access to off-street parking.
Where is this triplex located?
The property is located at 3048 Halcyon Ct Berkeley, CA.
What is the asking price?
The asking price for this property is $1,148,000.
What are key features of this property?
This property features: 2,753 SF triplex on a 0.1127‑acre lot; Unit mix includes a 2/1, vacant 1/1, and studio; Built in 1922 with stucco construction
