Mixed-Use 7-Unit
3228 Adeline Street Berkeley, CA 94703
3228 Adeline Street, Berkeley, CA, 94703
$3,300,000
For Sale
$3,300,000
MULTI_FAMILY - Berkeley, CA
Property Size9,068 SF
Lot Size0.10 Acres
Price / SF$363.92
Days on Market73
Property Features for 3228 Adeline Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Covered, Parking Lot
- Interior features
- Updated Baths, Updated Kitchen
- Appliances
- Refrigerator, Dryer, Washer
- Standard status
- Active
- Size
- 9,068 SF
- Lot size
- 0.10 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1904
- Flooring type
- Hardwood
- Building materials
- Stucco
- Roof type
- Shingle
Listing agency
Keller Williams Realty
(925) 934-2900
Listed by
Joey Wang · License #01890931
(510) 592-5554
Added: May 11 Updated: Jul 12 at 5:32AM Checked: Jul 22 at 4:06AM
MLS# 41134280
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.
Located one block from Ashby BART in South Berkeley, this mixed-use 7-unit building sits on a vibrant commercial corridor with a 95 Walk Score, offering convenient access to cafes, local markets, and transit connections to San Francisco and beyond. The property includes five residential units with renovated interiors, ranging from 2-bedroom/1-bath layouts up to 4 and 5-bedroom layouts.
The building also features two commercial spaces, with one delivered vacant and ready for lease-up or potential conversion. Residential units are offered furnished. Shared laundry serves the building, and there is an attic-level common lounge for residents.
A rear lot with ADU potential adds flexibility for future development, while professional management by The Berkeley Group supports ongoing operations.
The building also features two commercial spaces, with one delivered vacant and ready for lease-up or potential conversion. Residential units are offered furnished. Shared laundry serves the building, and there is an attic-level common lounge for residents.
A rear lot with ADU potential adds flexibility for future development, while professional management by The Berkeley Group supports ongoing operations.
Key Highlights
- Mixed‑use 7‑unit building with five residential units (2BD/1BA to 4- and 5‑bedroom layouts) plus two commercial spaces
- One‑block proximity to Ashby BART and 95 Walk Score for easy access to transit and nearby retail
- Two commercial spaces, with one to be delivered vacant and ready for lease‑up or residential conversion
Local Financial Insights For Retail
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 | $326.4k | $36.00 |
| − Vacancy | −$24.5k | −$2.70 |
| EGI | $302.0k | $33.30 |
| − OpEx | −$90.6k | −$9.99 |
| NOI | $211.4k | $23.31 |
9,068 SF · lease $36.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.02M
$2.64M – $3.52M
NOI $211,375 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$2.57M
$2.25M – $3.00M
NOI $180,235 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$3.51M
$3.07M – $4.09M
NOI $245,489 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Seven-unit property with two commercial spaces, shared laundry, and an attic common lounge, plus one commercial suite delivered vacant.
Where is this apartment building located?
The property is located at 3228 Adeline Street Berkeley, CA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Mixed‑use 7‑unit building with five residential units (2BD/1BA to 4- and 5‑bedroom layouts) plus two commercial spaces; One‑block proximity to Ashby BART and 95 Walk Score for easy access to transit and nearby retail; Two commercial spaces, with one to be delivered vacant and ready for lease‑up or residential conversion
