7-Unit Apartment
For Sale
$1,685,000
1246 Berkeley Way, Berkeley, CA 94702
COMM RI MULTI-UNITS 5+, Berkeley, CA
Property Size5,975 SF
Lot Size0.20 Acres
Price / SF$282.01
Days on Market95
Property Features for 1246 Berkeley Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Parking Lot
Subdivision
NORTH BERKELEY
Lot features
Level
Standard status
Active
APN
57208122
Size
5,975 SF
Lot size
0.20 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1966
Building materials
Stucco, Wood
Buildings
2
Listing Agency:
KW Advisors East Bay · Keller Williams Realty
(510) 775-1079
Listed By:
Stephanie Christmas · License #01308253
(510) 461-4663
Added: Jul 30
Changed: Oct 23
Last Checked: Nov 1 at 2:06PM
MLS# 41143329
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.
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Investment Insights
Based on property information with market context.
Located at 1246 Berkeley Way in Berkeley, this 7-unit apartment property consists of two separate buildings built in 1966. The improvements provide approximately 5,975 square feet of living space on an 8,497-square-foot lot, with five three-bedroom, one-bath units and two studios. Studio unit A is scheduled to be delivered vacant.
Parking is available for seven vehicles, with public water and public sewer service. Construction includes stucco and wood, and heating is provided by wall furnaces. The property is near University Ave, The Berkeley Marina, North Berkeley BART, UC Berkeley, Berkeley Bowl, Fourth Street restaurants and shopping, parks, public transportation, and the I-80 Freeway.
Parking is available for seven vehicles, with public water and public sewer service. Construction includes stucco and wood, and heating is provided by wall furnaces. The property is near University Ave, The Berkeley Marina, North Berkeley BART, UC Berkeley, Berkeley Bowl, Fourth Street restaurants and shopping, parks, public transportation, and the I-80 Freeway.
Key Highlights
- 7‑unit apartment property with five 3‑bed x 1‑bath units and two studio units
- Two separate buildings built in 1966
- Approximately 5,975 sqft of living space on an 8,497 sqft lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,759
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,375,180
$2.4M
Cap Rate 7%
$1,696,557
$1.7M
Cap Rate 9%
$1,319,544
$1.3M
Market Conditions
NOI Build-Up for 5,975 SF
Gross rent
$227.3K $38.04/SF
− Vacancy
−$11.4K −$1.90/SF
EGI
$215.9K $36.14/SF
− OpEx
−$97.2K −$16.26/SF
NOI
$118.8K $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%
$2,375,180
Cap Rate 7%
$1,696,557
Cap Rate 9%
$1,319,544
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.48M – $1.98M
NOI $118,759 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.31M
$2.02M – $2.70M
NOI $161,755 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
7
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two separate buildings offer a mixed unit configuration with off-street parking and one studio scheduled for vacancy delivery.
Where is this apartment building located?
The property is located at 1246 Berkeley Way Berkeley, CA.
What is the asking price?
The asking price for this property is $1,685,000.
What are key features of this property?
This property features: 7‑unit apartment property with five 3‑bed x 1‑bath units and two studio units; Two separate buildings built in 1966; Approximately 5,975 sqft of living space on an 8,497 sqft lot
