Updated Quadplex with Garden
For Sale
$1,179,000
1239 Berkeley Way, Berkeley, CA 94702
Historic multifamily property with hardwood floors, mature trees, and enclosed garden areas.
Property Size4,693 SF
Price / SF$251.23
Days on Market109
Property Features for 1239 Berkeley Way
General Information
Standard status
Active
Size
4,693 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
hardwood floors
garden
Building Details
Year Built
1921
Listing Agency:
La Maison
(510) 541-4014
Listed By:
Monica Rohrer · License #00814392
(510) 541-4014
Source:
Exitrealty
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 10:07PM
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 La Maison
Investment Insights
Based on property information with market context.
Located at 1239 Berkeley Way, this 4,693-square-foot quadplex was built in 1921 and retains residential character through its hardwood floors, landscaped grounds, and tree-surrounded garden areas. The exterior has been recently painted, and a seismic retrofit was completed during 2019-20.
The property is near North Berkeley BART, shopping, and freeway access. A mostly fenced garden provides substantial outdoor space, including areas suited to gardening. The combination of historic construction, updated exterior finishes, seismic work, and transit access defines the property’s primary physical and location characteristics.
The property is near North Berkeley BART, shopping, and freeway access. A mostly fenced garden provides substantial outdoor space, including areas suited to gardening. The combination of historic construction, updated exterior finishes, seismic work, and transit access defines the property’s primary physical and location characteristics.
Key Highlights
- 4,693‑square‑foot quadplex built in 1921
- Seismic retrofit completed during 2019‑20
- Mostly fenced garden areas surrounded by trees
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
$106,508
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
9.03%
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%
$2,130,160
$2.1M
Cap Rate 7%
$1,521,543
$1.5M
Cap Rate 9%
$1,183,422
$1.2M
Market Conditions
NOI Build-Up for 4,693 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
$160.5K $34.20/SF
− Vacancy
−$8.3K −$1.78/SF
EGI
$152.2K $32.42/SF
− OpEx
−$45.6K −$9.73/SF
NOI
$106.5K $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%
$2,130,160
Cap Rate 7%
$1,521,543
Cap Rate 9%
$1,183,422
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.78M
NOI $106,508 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$1.33M
$1.17M – $1.55M
NOI $93,278 @ 7.0% cap · market cap 7.91%
Theoretical Best
Specialty Retail
$1.81M
$1.59M – $2.12M
NOI $127,049 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,955
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?
Quadplex - Historic multifamily property with hardwood floors, mature trees, and enclosed garden areas.
Where is this quadplex located?
The property is located at 1239 Berkeley Way Berkeley, CA.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: 4,693‑square‑foot quadplex built in 1921; Seismic retrofit completed during 2019‑20; Mostly fenced garden areas surrounded by trees
