Value-Add Multifamily Property in
1213 San Pablo AVE, Berkeley, CA 94706
For Sale
$2,750,000
14-unit multifamily property in desirable West Berkeley location.
Property Size5,216 SF
Price / SF$527.22
Days on Market301
Property Features for 1213 San Pablo AVE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Amenities
Regular
Vinyl Flooring
Wall Furnace Heating
Wall to Wall Carpet Flooring
Building Details
Year Built
Listing Agency:
HIGHLAND REALTY GROUP INC.
(510) 900-9596
Listed By:
SAM LAM
Source:
Corcoran
Added: Jan 13
Changed: Aug 8
Last Checked: Aug 8 at 5:56AM
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 HIGHLAND REALTY GROUP INC.
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Investment Insights
Based on property information with market context.
Located in a desirable West Berkeley location bordering Albany, this 14-unit multifamily property at 1213 San Pablo Avenue offers a value-add opportunity. Situated one block north of Gilman Street in the Gilman District, the property provides tenants with walkability and connectivity. The property has a Walk Score of 93 and a Bike Score of 98, placing residents near everyday essentials, retail, and restaurants. Nearby amenities include Whole Foods, Philz Coffee, REI, Walgreens, Tokyo Fish Market, Sprouts, and Chipotle. UC Village, Solano Ave, and 4th Street retail are also in close proximity. Significant capital improvements have been completed on more than half of the units.
Key Highlights
- Prime value‑add opportunity at $197,000 per unit.
- Desirable West Berkeley location bordering Albany, one block north of Gilman Street.
- Excellent walkability (Walk Score of 93) and bikeability (Bike Score of 98).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,673
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,073,460
$2.1M
Cap Rate 7%
$1,481,043
$1.5M
Cap Rate 9%
$1,151,922
$1.2M
Market Conditions
NOI Build-Up for 5,216 SF
Gross rent
$198.4K $38.04/SF
− Vacancy
−$9.9K −$1.90/SF
EGI
$188.5K $36.14/SF
− OpEx
−$84.8K −$16.26/SF
NOI
$103.7K $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 Rate 5%
$2,073,460
Cap Rate 7%
$1,481,043
Cap Rate 9%
$1,151,922
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,673 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.35M
NOI $141,208 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,271
Businesses Nearby
Explore this area
Business Placement
Demographics for 94706, CA
21,134
Population
8,386
Households
2.5
Avg Household Size
37
Median Age
77%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
14,089
Density / Sq Mi
$136,961
Median Household Income
$75,849
Median Earnings
$2,394
Median Rent
$1,188,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Berkeley, CA
Properties on Market for Apartment buildings in Berkeley
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 14-unit multifamily property in desirable West Berkeley location.
Where is this apartment building located?
The property is located at 1213 San Pablo AVE Berkeley, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Prime value‑add opportunity at $197,000 per unit.; Desirable West Berkeley location bordering Albany, one block north of Gilman Street.; Excellent walkability (Walk Score of 93) and bikeability (Bike Score of 98).
