7-Unit Apartment Building with
New
For Sale
$1,685,000
1246 Berkeley Way, Berkeley, CA 94702
MULTI_FAMILY - Berkeley, CA
Property Size5,975 SF
Lot Size0.20 Acres
Price / SF$282.01
Days on Market3
Property Features for 1246 Berkeley Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Parking Lot, On Street
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
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: Aug 1
Last Checked: Aug 1 at 12:06PM
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.
Investment Insights
Based on property information with market context.
1246 Berkeley Way is a 7-unit multifamily apartment building on an 8,497 SF lot. Built in 1966, the property totals approximately 5,975 SF of living space and consists of two separate buildings.
The unit mix includes four 3-bed/1-bath units, one 3-bed/2-bath unit, and two studio units. Studio unit B is vacant. Off-street parking is available for 7 vehicles, and additional parking is identified as on-street. Heating is provided via wall furnace.
Public utilities include public water and public sewer.
The unit mix includes four 3-bed/1-bath units, one 3-bed/2-bath unit, and two studio units. Studio unit B is vacant. Off-street parking is available for 7 vehicles, and additional parking is identified as on-street. Heating is provided via wall furnace.
Public utilities include public water and public sewer.
Key Highlights
- Approximately 5,975 SF living space on an 8,497 SF lot across two separate buildings
- Built in 1966 stucco wood construction
- Unit mix: four 3‑bed/1‑bath, one 3‑bed/2‑bath, two studio units
Financial Insights For Apartment 5plus
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 | $227.3k | $38.04 |
| − Vacancy | −$11.4k | −$1.90 |
| EGI | $215.9k | $36.14 |
| − OpEx | −$97.2k | −$16.26 |
| NOI | $118.8k | $19.88 |
5,975 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Highway access
Yes
Paved road 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?
Apartment building - Seven-unit multifamily with off-street parking and one vacant studio unit
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: Approximately 5,975 SF living space on an 8,497 SF lot across two separate buildings; Built in 1966 stucco wood construction; Unit mix: four 3‑bed/1‑bath, one 3‑bed/2‑bath, two studio units
