8-Unit Multifamily Apartment
New
For Sale
$2,599,000
1403 Carleton ST, Berkeley, CA 94702
The property combines conventional apartments with two newly constructed accessory dwelling units.
Property Size4,200 SF
Days on Market7
Property Features for 1403 Carleton ST
General Information
Standard status
Active
Size
4,200 SF
Property subtype
5 or More Units
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 1BR, 1 x studio, 1 x 2BR, 1 x 1BR ADU, 1 x 2BR ADU
Multifamily Units
8
Building Details
Building Size
4,200 SF
Listing Agency:
Builopment Corporation
Listed By:
Kwong Szeto
(510) 289-0283
Source:
Annnewtoncane
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:20PM
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 Builopment Corporation
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit apartment property in Southwest Berkeley has a varied configuration: four one-bedroom apartments, one studio, one two-bedroom apartment, and two newly constructed ADUs. The ADUs comprise one one-bedroom unit and one two-bedroom unit.
The property is in the Poet’s Corner neighborhood, on a residential street described as tree-lined. Berkeley Bowl West, Longfellow Middle School, and San Pablo Park are nearby. Ashby BART Station is a few blocks away, and I-580 is accessible via San Pablo Avenue. The location also offers access to Emeryville and North Oakland.
The property is in the Poet’s Corner neighborhood, on a residential street described as tree-lined. Berkeley Bowl West, Longfellow Middle School, and San Pablo Park are nearby. Ashby BART Station is a few blocks away, and I-580 is accessible via San Pablo Avenue. The location also offers access to Emeryville and North Oakland.
Key Highlights
- 8‑unit multifamily property in Southwest Berkeley
- Unit mix includes four one‑bedroom units, one studio, and one two‑bedroom unit
- Two newly constructed ADUs: one one‑bedroom and one two‑bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,479
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,669,580
$1.7M
Cap Rate 7%
$1,192,557
$1.2M
Cap Rate 9%
$927,544
$927.5K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$159.8K $38.04/SF
− Vacancy
−$8.0K −$1.90/SF
EGI
$151.8K $36.14/SF
− OpEx
−$68.3K −$16.26/SF
NOI
$83.5K $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%
$1,669,580
Cap Rate 7%
$1,192,557
Cap Rate 9%
$927,544
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,479 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.90M
NOI $113,702 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,077
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property combines conventional apartments with two newly constructed accessory dwelling units.
Where is this apartment building located?
The property is located at 1403 Carleton ST Berkeley, CA.
What is the asking price?
The asking price for this property is $2,599,000.
What are key features of this property?
This property features: 8‑unit multifamily property in Southwest Berkeley; Unit mix includes four one‑bedroom units, one studio, and one two‑bedroom unit; Two newly constructed ADUs: one one‑bedroom and one two‑bedroom
