Berkeley Six-Plex in Colonial
For Sale
Contact for pricing
1739 Spruce Street, Berkeley, CA 94709
Six vacant units in Berkeley, perfect for owner or rental.
Property Size9,194 SF
Price / SF$706.98
Days on Market146
Property Features for 1739 Spruce Street
General Information
Standard status
Active
Size
9,194 SF
Total Parking Spaces
7
Property subtype
Multifamily
Zoning
Multiple Residential Building
Building Details
Year Built
1938
Year Renovated
2025
Buildings
3
Stories
2
Units
6
Listing Agency:
The Agency
(510) 717-1799
Listed By:
Arlene Baxter · License #01209552
Source:
Crexi
Added: Mar 21
Changed: Aug 11
Last Checked: Aug 11 at 12:48PM
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 The Agency
Investment Insights
Based on property information with market context.
This six-plex, located at 1739-1759 Spruce Street in Berkeley, California, consists of three stucco duplexes constructed in the late 1930s by Irwin M. Johnson. The buildings are architecturally consistent in the Colonial Revival style, with each having its own signature motif. The property features balconies with views and one private back garden. Each unit is designed to function like a single-family home, with four of the units spanning two stories. All six units include living rooms with fireplaces and hardwood floors. Kitchens have upgraded appliances, countertops, and tile floors. The units range in size from approximately 1350 to 1550 square feet, with most configured as three-bedroom layouts, each including its own laundry facility. One larger unit, over 1600 square feet, has been used as a four-bedroom residence. As of June 1, all six units will be delivered vacant, allowing for owner-occupancy or rental opportunities. The property size is 9194 square feet.
Key Highlights
- All six units delivered vacant, ideal for owner- or rental‑occupancy.
- Each unit lives like a single‑family home, with four units occupying two stories.
- Spacious units ranging from approximately 1350 to over 1600 square feet.
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
$182,739
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
2.81%
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%
$3,654,780
$3.7M
Cap Rate 7%
$2,610,557
$2.6M
Cap Rate 9%
$2,030,433
$2.0M
Market Conditions
NOI Build-Up for 9,194 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
$349.7K $38.04/SF
− Vacancy
−$17.5K −$1.90/SF
EGI
$332.3K $36.14/SF
− OpEx
−$149.5K −$16.26/SF
NOI
$182.7K $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%
$3,654,780
Cap Rate 7%
$2,610,557
Cap Rate 9%
$2,030,433
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.28M – $3.05M
NOI $182,739 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.56M
$3.11M – $4.15M
NOI $248,900 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,694
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six vacant units in Berkeley, perfect for owner or rental.
Where is this apartment building located?
The property is located at 1739 Spruce Street Berkeley, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: All six units delivered vacant, ideal for owner- or rental‑occupancy.; Each unit lives like a single‑family home, with four units occupying two stories.; Spacious units ranging from approximately 1350 to over 1600 square feet.
