Two-Unit Duplex with
For Sale
$750,000
1542 Addison St, Berkeley, CA 94703
One residence is delivered vacant, with separate gas and water meters serving each unit.
Property Size1,593 SF
Days on Market20
Property Features for 1542 Addison St
General Information
Standard status
Active
Size
1,593 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
R-2
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x loft (830 sq ft, 1.5 bath), 1 x 2BR (666 sq ft)
Multifamily Units
2
Additional Details
Asking Price
$750,000
Amenities
rooftop solar
Building Details
Building Size
1,593 SF
Year Built
1914
Buildings
1
Listing Agency:
Keller Williams Realty
(510) 592-5554
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Source:
Brucebaldwin
Added: Aug 11
Changed: Aug 30
Last Checked: Aug 30 at 12:03AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This R-2 duplex combines two distinct residences in a side-by-side configuration. The 830-square-foot loft includes 1.5 baths, double-height ceilings, an open mezzanine, radiant-heated floors, and a full kitchen. The 666-square-foot flat offers two bedrooms, refinished oak flooring, and a newer furnace. The vacant flat provides immediate occupancy flexibility, while the property also includes rooftop solar and two garages, with one available to the buyer.
Located at 1542 Addison St in Berkeley, the property sits one block from University Avenue. Two BART stations, the Ohlone Greenway, and neighborhood parks are within a short walk. Gas and water are individually metered by unit, and the building dates to 1914.
Located at 1542 Addison St in Berkeley, the property sits one block from University Avenue. Two BART stations, the Ohlone Greenway, and neighborhood parks are within a short walk. Gas and water are individually metered by unit, and the building dates to 1914.
Key Highlights
- 830‑square‑foot loft with 1.5 baths, double‑height ceilings, mezzanine, radiant‑heated floors, and full kitchen
- 666‑square‑foot two‑bedroom flat with refinished oak floors and newer furnace
- Flat delivered vacant for immediate occupancy flexibility
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
$36,153
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
4.82%
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%
$723,060
$723.1K
Cap Rate 7%
$516,471
$516.5K
Cap Rate 9%
$401,700
$401.7K
Market Conditions
NOI Build-Up for 1,593 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
$54.5K $34.20/SF
− Vacancy
−$2.8K −$1.78/SF
EGI
$51.6K $32.42/SF
− OpEx
−$15.5K −$9.73/SF
NOI
$36.2K $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%
$723,060
Cap Rate 7%
$516,471
Cap Rate 9%
$401,700
Alternative Uses
Best Use
Multifamily LT 5
$516.5K
$451.9K – $602.6K
NOI $36,153 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$452.3K
$395.8K – $527.7K
NOI $31,662 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$616.1K
$539.1K – $718.8K
NOI $43,126 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,574
Businesses Nearby
Explore this area
Business Placement
Demographics for 94703, CA
20,805
Population
9,654
Households
2.2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
16,004
Density / Sq Mi
$108,922
Median Household Income
$66,261
Median Earnings
$2,257
Median Rent
$1,273,000
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?
Duplex - One residence is delivered vacant, with separate gas and water meters serving each unit.
Where is this duplex located?
The property is located at 1542 Addison St Berkeley, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 830‑square‑foot loft with 1.5 baths, double‑height ceilings, mezzanine, radiant‑heated floors, and full kitchen; 666‑square‑foot two‑bedroom flat with refinished oak floors and newer furnace; Flat delivered vacant for immediate occupancy flexibility
