8-Unit Apartment
1612 Parker Street Berkeley, CA 94703
For Sale
$2,875,000
Well-maintained 8-unit building offers 2-bedroom 1-bath layouts, five reserved parking spots, and a shared laundry area.
Property Size9,205 SF
Price / SF$312.33
Days on Market557
Property Features for 1612 Parker Street
General Information
- Standard status
- Active
- Size
- 9,205 SF
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1964
Listing Agency:
RED OAK REALTY
(510) 543-7016
Listed By:
NEGAR SOUZA · License #01701667
(510) 543-7016
Source:
Compass
Added: Jan 13, 2025
Changed: Jul 23
Last Checked: Jul 23 at 6:03PM
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
Investment Insights
Based on property information with market context.
This well-maintained 8-unit apartment building features spacious 2-bedroom, 1-bathroom layouts across all units. The property includes a community laundry area and five reserved parking spots. Several units have been tastefully updated, and some units offer additional storage and balconies.
The building also includes a non-conforming manager’s unit, which may provide additional flexibility for onsite management or extra rental income. Offered for sale at 1612 Parker Street in Berkeley, CA, the property sits on a generous lot per the provided remarks.
If you’re looking for a multi-unit residential income property with practical on-site amenities and a unit mix that includes a manager’s unit, this asset is structured around comfortable, consistent apartment layouts with select unit upgrades.
The building also includes a non-conforming manager’s unit, which may provide additional flexibility for onsite management or extra rental income. Offered for sale at 1612 Parker Street in Berkeley, CA, the property sits on a generous lot per the provided remarks.
If you’re looking for a multi-unit residential income property with practical on-site amenities and a unit mix that includes a manager’s unit, this asset is structured around comfortable, consistent apartment layouts with select unit upgrades.
Key Highlights
- Well‑maintained 8‑unit building built in 1964 with 2‑bedroom, 1‑bath layouts
- 5 reserved parking spots plus a shared community laundry area
- Non‑conforming manager's unit included for onsite management or potential additional rental income
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 | $350.2k | $38.04 |
| − Vacancy | −$17.5k | −$1.90 |
| EGI | $332.7k | $36.14 |
| − OpEx | −$149.7k | −$16.26 |
| NOI | $183.0k | $19.88 |
9,205 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.29M – $3.05M
NOI $182,958 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.56M
$3.11M – $4.15M
NOI $249,198 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained 8-unit building offers 2-bedroom 1-bath layouts, five reserved parking spots, and a shared laundry area.
Where is this apartment building located?
The property is located at 1612 Parker Street Berkeley, CA.
What is the asking price?
The asking price for this property is $2,875,000.
What are key features of this property?
This property features: Well‑maintained 8‑unit building built in 1964 with 2‑bedroom, 1‑bath layouts; 5 reserved parking spots plus a shared community laundry area; Non‑conforming manager's unit included for onsite management or potential additional rental income
