Two-Unit Duplex with Rooftop
New
For Sale
$750,000
1542 Addison St, Berkeley, CA 94703
MULTI_FAMILY - Berkeley, CA
Property Size1,593 SF
Lot Size0.05 Acres
Price / SF$470.81
Days on Market1
Property Features for 1542 Addison St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
3
Rooms
Bedroom 1, Bedroom 2, Bedroom 3
Parking
2
Interior features
Tub w/Shower Over
Appliances
Dryer, Washer, Gas Water Heater
Subdivision
CENTRAL BERKELEY
Lot features
Level, Back Yard, Paved
Standard status
Active
APN
56200251
Size
1,593 SF
Lot size
0.05 Acres
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Radiant, Wall Furnace
Water source
Public
Amenities
rooftop solar
Building Details
Year built
1914
Flooring type
Tile, Vinyl, Hardwood
Building materials
Stucco, Frame
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Added: Aug 11
Last Checked: Aug 11 at 5:06PM
MLS# 41144590
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.
This two-unit duplex includes a rebuilt 830-square-foot loft and a 666-square-foot two-bedroom flat. The loft features 1.5 baths, double-height ceilings, an open mezzanine, radiant-heated floors, and a full kitchen. The flat has refinished oak flooring and a newer furnace and is delivered vacant. The property also includes two garages, rooftop solar, and separate gas and water meters for each unit.
Constructed in 1914 on a 0.0525-acre lot, the building is served by public water and public sewer, with natural gas available. Its Berkeley setting is one block from University Avenue, with two BART stations, the Ohlone Greenway, and neighborhood parks within a short walk. R-2 zoning supports the duplex configuration.
Constructed in 1914 on a 0.0525-acre lot, the building is served by public water and public sewer, with natural gas available. Its Berkeley setting is one block from University Avenue, with two BART stations, the Ohlone Greenway, and neighborhood parks within a short walk. R-2 zoning supports the duplex configuration.
Key Highlights
- Two‑unit duplex with 1,593 square feet of total property size
- Rebuilt 830 sq ft loft with 1.5 baths, mezzanine, radiant floors, and full kitchen
- 666 sq ft two‑bedroom flat delivered vacant
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 - Berkeley duplex offering a loft and a vacant two-bedroom flat with separate utility metering.
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: Two‑unit duplex with 1,593 square feet of total property size; Rebuilt 830 sq ft loft with 1.5 baths, mezzanine, radiant floors, and full kitchen; 666 sq ft two‑bedroom flat delivered vacant
