Updated Multi-Unit Asset in
For Sale
$1,450,000
1201 Dwight Way, Berkeley, CA 94702
Well-maintained multi-unit property in desirable West Berkeley location.
Property Size2,629 SF
Price / SF$551.54
Days on Market454
Property Features for 1201 Dwight Way
General Information
Standard status
Active
Size
2,629 SF
Building Details
Year Built
1945
Listing Agency:
COMPASS
Listed By:
WILLEM BOS
Source:
Corcoran
Added: Jun 9, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMPASS
Investment Insights
Based on property information with market context.
Located in West Berkeley's Poet's Corner, this multi-unit property at 1201 Dwight Way features a 4-plex and a cottage. The front 4-plex includes updated 1-bed/1-bath units equipped with in-unit laundry, dual-pane windows, upgraded systems, and a newer roof and staircase. The rear cottage offers 2-bed/2-bath, hardwood floors, beam ceilings, a fireplace, and a private patio. All units are separately metered for gas and electric. The cottage tenant covers water and trash. The property is situated on a corner lot and offers proximity to Berkeley Bowl West, San Pablo Ave, I-580, and public transit. The property size is 2629 square feet.
Key Highlights
- Turnkey multi‑unit property in the highly desirable Poet's Corner neighborhood of West Berkeley.
- Front 4‑plex features updated 1‑bed/1‑bath units with in‑unit laundry and dual‑pane windows.
- Charming rear 2‑bed/2‑bath cottage with hardwood floors, beam ceilings, fireplace, and private patio.
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
$52,254
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
3.60%
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%
$1,045,080
$1.0M
Cap Rate 7%
$746,486
$746.5K
Cap Rate 9%
$580,600
$580.6K
Market Conditions
NOI Build-Up for 2,629 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
$100.0K $38.04/SF
− Vacancy
−$5.0K −$1.90/SF
EGI
$95.0K $36.14/SF
− OpEx
−$42.8K −$16.26/SF
NOI
$52.3K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,045,080
Cap Rate 7%
$746,486
Cap Rate 9%
$580,600
Alternative Uses
Best Use
Apartment 5plus
$746.5K
$653.2K – $870.9K
NOI $52,254 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.02M
$889.7K – $1.19M
NOI $71,172 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,370
Businesses Nearby
Explore this area
Business Placement
Demographics for 94702, CA
17,637
Population
8,209
Households
2.1
Avg Household Size
39
Median Age
65%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
13,567
Density / Sq Mi
$99,135
Median Household Income
$66,516
Median Earnings
$1,974
Median Rent
$1,168,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multi-unit property in desirable West Berkeley location.
Where is this apartment building located?
The property is located at 1201 Dwight Way Berkeley, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Turnkey multi‑unit property in the highly desirable Poet's Corner neighborhood of West Berkeley.; Front 4‑plex features updated 1‑bed/1‑bath units with in‑unit laundry and dual‑pane windows.; Charming rear 2‑bed/2‑bath cottage with hardwood floors, beam ceilings, fireplace, and private patio.
