Renovated Multifamily with 12
1533 Harmon St Berkeley, CA 94703
New
For Sale
$4,795,000
For sale multifamily featuring 12 turnkey units across two parcels, with 11/12 fully renovated and new exterior components.
Property Size10,220 SF
Price / SF$469.18
Days on Market6
Property Features for 1533 Harmon St
General Information
Standard status
Active
Size
10,220 SF
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
THE PINZA GROUP, INC
(510) 725-4775
Listed By:
STEVEN PINZA · License #01867691
Source:
Corcoran
Added: Jul 24
Changed: Jul 27
Last Checked: Jul 28 at 8:45AM
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 THE PINZA GROUP, INC
Investment Insights
Based on property information with market context.
This for-sale multifamily property presents 12 turnkey units across two parcels at 1533 and 1537 Harmon St. The seller reports that 11 of the 12 units are fully renovated, along with new roofs and new dual-pane windows. Additional improvements include a new driveway, fresh paint and signage, new walkways and balconies, and a laundry room.
The property also includes two new private/automatic garages. Berkeley ordinances are reported as completed, and the properties are owned free and clear, which may allow unique financing options.
Overall, the building configuration is designed for ready occupancy with recent capital upgrades and tenant-facing improvements completed throughout most units.
The property also includes two new private/automatic garages. Berkeley ordinances are reported as completed, and the properties are owned free and clear, which may allow unique financing options.
Overall, the building configuration is designed for ready occupancy with recent capital upgrades and tenant-facing improvements completed throughout most units.
Key Highlights
- 12 turnkey multifamily units across two parcels (1533 and 1537 Harmon St)
- Year built 1970
- 11 of 12 units fully renovated
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 | $388.8k | $38.04 |
| − Vacancy | −$19.4k | −$1.90 |
| EGI | $369.3k | $36.14 |
| − OpEx | −$166.2k | −$16.26 |
| NOI | $203.1k | $19.88 |
10,220 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.54M – $3.39M
NOI $203,132 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.95M
$3.46M – $4.61M
NOI $276,676 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - For sale multifamily featuring 12 turnkey units across two parcels, with 11/12 fully renovated and new exterior components.
Where is this apartment building located?
The property is located at 1533 Harmon St Berkeley, CA.
What is the asking price?
The asking price for this property is $4,795,000.
What are key features of this property?
This property features: 12 turnkey multifamily units across two parcels (1533 and 1537 Harmon St); Year built 1970; 11 of 12 units fully renovated
