Berkeley Multifamily Property Near
1734 Spruce St, Berkeley, CA 94709
For Sale
$3,090,000
Turnkey 7-unit property near UC Berkeley with development potential.
Property Size4,349 SF
Price / SF$710.51
Days on Market210
Property Features for 1734 Spruce St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Amenities
Composition Roof
Gas Heating
Hardwood Flooring
Level
Building Details
Year Built
Listing Agency:
NAI NORTHERN CALIFORNIA
(510) 336-4712
Listed By:
GRANT CHAPPELL · License #01700439
(415) 246-4314
Source:
Corcoran
Added: Apr 14
Changed: Aug 11
Last Checked: Aug 11 at 12:56PM
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 NAI NORTHERN CALIFORNIA
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Investment Insights
Based on property information with market context.
This multifamily property at 1734 Spruce Street is a 7-unit building located one block from UC Berkeley, in the Normandy Village area of North Berkeley. The unit mix includes one studio, two 1-bed 1-bath units, three 2-bed 1-bath units, and one 3-bed 2-bath unit. The property has undergone recent upgrades, including the installation of a fire sprinkler system, on-demand water heaters, a roof replacement, exterior paint, and voluntary seismic and electrical/plumbing updates. The property's large lot size makes it a candidate for ADU construction in the rear. The property is within walking distance of the north side of UC Berkeley's campus, and a 10-minute walk or less to North Berkeley Bart, multiple grocery stores, and parks. A variety of restaurants are also within walking distance. The property is suitable for high-paying tenants, including students and young professionals. The building size is 4349 square feet.
Key Highlights
- Prime location one block from UC Berkeley, ensuring high tenant demand.
- Turnkey 7‑unit multifamily property with a diverse unit mix.
- Recent significant upgrades including fire sprinkler system, on‑demand water heaters, roof replacement, and seismic/electrical/plumbing updates.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,440
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,728,800
$1.7M
Cap Rate 7%
$1,234,857
$1.2M
Cap Rate 9%
$960,444
$960.4K
Market Conditions
NOI Build-Up for 4,349 SF
Gross rent
$165.4K $38.04/SF
− Vacancy
−$8.3K −$1.90/SF
EGI
$157.2K $36.14/SF
− OpEx
−$70.7K −$16.26/SF
NOI
$86.4K $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%
$1,728,800
Cap Rate 7%
$1,234,857
Cap Rate 9%
$960,444
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,440 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,736 @ 7.0% cap · market cap 3.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,694
Businesses Nearby
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Business Placement
Demographics for 94709, CA
12,514
Population
6,139
Households
2
Avg Household Size
29
Median Age
80%
College-Educated
96%
High-School Grad
0.7 sq mi
ZIP Area
17,877
Density / Sq Mi
$95,223
Median Household Income
$42,958
Median Earnings
$1,988
Median Rent
$1,240,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Berkeley, CA
Properties on Market for Apartment buildings in Berkeley
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 7-unit property near UC Berkeley with development potential.
Where is this apartment building located?
The property is located at 1734 Spruce St Berkeley, CA.
What is the asking price?
The asking price for this property is $3,090,000.
What are key features of this property?
This property features: Prime location one block from UC Berkeley, ensuring high tenant demand.; Turnkey 7‑unit multifamily property with a diverse unit mix.; Recent significant upgrades including fire sprinkler system, on‑demand water heaters, roof replacement, and seismic/electrical/plumbing updates.
