25-Unit Mixed-Use
For Sale
$4,200,000
1732 University Ave, Berkeley, CA 94705
COMM RI MULTI-UNITS 5+, Berkeley, CA
Property Size17,610 SF
Lot Size0.32 Acres
Price / SF$238.50
Days on Market144
Property Features for 1732 University Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Laundry Room
Parking features
Covered, Garage, Parking Lot
Appliances
Free-Standing Range, Refrigerator, Dryer, Washer, Gas Water Heater
Subdivision
BERKELEY
Standard status
Active
Size
17,610 SF
Lot size
0.32 Acres
Utilities
Sewer type
Septic Tank, Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
interior courtyard
Building Details
Year built
1928
Flooring type
Hardwood, Carpet, Tile
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Added: Apr 9
Changed: Aug 28
Last Checked: Aug 30 at 7:06AM
MLS# 41130262
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 25-unit mixed-use property at 1732 University Ave. contains 20 residential units—11 studios and 9 one-bedroom apartments—along with 5 commercial spaces. The 17,610-square-foot building occupies 0.32 acres and includes a skylit interior courtyard, laundry room, covered parking, a parking lot, and garage parking. Originally constructed in 1928, the property features stucco construction, carpet, tile, and hardwood flooring, plus wall-furnace heating. A seismic retrofit and roof replacement were completed in 2022.
The property is located five blocks from UC Berkeley on University Avenue in Berkeley. Downtown Berkeley, BART, dining, and retail are immediately accessible, with a Walk Score of 95 and Bike Score of 100. Public water service is provided, and the roof is shingle.
The property is located five blocks from UC Berkeley on University Avenue in Berkeley. Downtown Berkeley, BART, dining, and retail are immediately accessible, with a Walk Score of 95 and Bike Score of 100. Public water service is provided, and the roof is shingle.
Key Highlights
- 25‑unit configuration with 20 residential units and 5 commercial spaces
- Residential mix includes 11 studios and 9 one‑bedroom units
- 17,610 square feet on a 0.32‑acre parcel
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
$350,015
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
8.33%
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%
$7,000,300
$7.0M
Cap Rate 7%
$5,000,214
$5.0M
Cap Rate 9%
$3,889,056
$3.9M
Market Conditions
NOI Build-Up for 17,610 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
$669.9K $38.04/SF
− Vacancy
−$33.5K −$1.90/SF
EGI
$636.4K $36.14/SF
− OpEx
−$286.4K −$16.26/SF
NOI
$350.0K $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 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%
$7,000,300
Cap Rate 7%
$5,000,214
Cap Rate 9%
$3,889,056
Alternative Uses
Best Use
Apartment 5plus
$5.00M
$4.38M – $5.83M
NOI $350,015 @ 7.0% cap · market cap 8.33%
Second Best
Mixed Use
$4.69M
$4.10M – $5.47M
NOI $328,074 @ 7.0% cap · market cap 7.81%
Theoretical Best
Specialty Retail
$6.81M
$5.96M – $7.95M
NOI $476,738 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 94705, CA
13,591
Population
6,335
Households
2.1
Avg Household Size
42
Median Age
79%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
3,997
Density / Sq Mi
$163,254
Median Household Income
$75,864
Median Earnings
$2,330
Median Rent
$1,892,300
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?
Mixed-use property - Combines residential apartments with commercial space and a skylit interior courtyard.
Where is this mixed-use property located?
The property is located at 1732 University Ave Berkeley, CA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 25‑unit configuration with 20 residential units and 5 commercial spaces; Residential mix includes 11 studios and 9 one‑bedroom units; 17,610 square feet on a 0.32‑acre parcel
