Berkeley 8-Unit Multifamily
For Sale
$2,500,000
1612 Parker St, Berkeley, CA 94703
Well-maintained 8-unit building in desirable Berkeley neighborhood.
Property Size9,205 SF
Price / SF$271.59
Days on Market230
Property Features for 1612 Parker St
General Information
Standard status
Active
Size
9,205 SF
Property subtype
5 or More Units
Building Details
Building Size
9,205 SF
Year Built
1964
Listing Agency:
Red Oak Realty
Listed By:
Negar Souza · License #01701667
(510) 543-7016
Source:
Annnewtoncane
Added: Mar 5
Changed: Oct 5
Last Checked: Oct 19 at 1:49PM
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 Red Oak Realty
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Investment Insights
Based on property information with market context.
This well-maintained 8-unit building is located in a desirable Berkeley neighborhood. The property is situated on a generous lot and includes five reserved parking spots and a community laundry area. Each of the 8 units features a spacious 2-bedroom, 1-bathroom layout suitable for a variety of tenants. Several units have been updated with modern touches while retaining their classic charm. The property also includes a non-conforming manager's unit, providing flexibility for onsite management or additional rental income. Some units also have additional storage and balconies. The property size is 9205 square feet. The building is located in a city known for its eclectic mix of cultures and progressive spirit. The cap rate is 6% with huge upside potential. The property is intended for use as an apartment building, multifamily property, or residential income property.
Key Highlights
- Rare 8‑unit building in a desirable Berkeley location.
- Strong investment opportunity with an attractive 6% Cap Rate and huge upside potential.
- Spacious 2‑bedroom, 1‑bathroom layouts in all 8 units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,958
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,659,160
$3.7M
Cap Rate 7%
$2,613,686
$2.6M
Cap Rate 9%
$2,032,867
$2.0M
Market Conditions
NOI Build-Up for 9,205 SF
Gross rent
$350.2K $38.04/SF
− Vacancy
−$17.5K −$1.90/SF
EGI
$332.7K $36.14/SF
− OpEx
−$149.7K −$16.26/SF
NOI
$183.0K $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%
$3,659,160
Cap Rate 7%
$2,613,686
Cap Rate 9%
$2,032,867
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.29M – $3.05M
NOI $182,958 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.56M
$3.11M – $4.15M
NOI $249,198 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
2,295
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 8-unit building in desirable Berkeley neighborhood.
Where is this apartment building located?
The property is located at 1612 Parker St Berkeley, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Rare 8‑unit building in a desirable Berkeley location.; Strong investment opportunity with an attractive 6% Cap Rate and huge upside potential.; Spacious 2‑bedroom, 1‑bathroom layouts in all 8 units.
