Renovated Duplex Near UC
For Sale
$1,495,000
1818 Milvia St, Berkeley, CA 94709
Two updated residences offer flexible ownership and investment use near campus, downtown, BART, dining, and shopping.
Property Size2,156 SF
Days on Market20
Property Features for 1818 Milvia St
General Information
Standard status
Active
Size
2,156 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
in-unit washer/dryer hookups
tankless water heater
mini-split heating and air conditioning
Building Details
Building Size
2,156 SF
Year Built
1904
Buildings
1
Listing Agency:
Compass
(925) 597-2205
Listed By:
Francisco Valdez · License #01858228
(925) 597-2205
Source:
Annnewtoncane
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 30 at 11:28PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1904, this 2,038-square-foot duplex at 1818 Milvia St. contains two three-bedroom, two-bath residences. Each unit features an open living arrangement, a primary bedroom with an ensuite bath, renovated kitchen and bathroom finishes, in-unit washer/dryer hookups, updated windows and flooring, and mini-split heating and air conditioning. Gas and electricity are separately metered for the two residences.
The property has undergone extensive building-system work, including new water, gas, and DWV plumbing, electrical wiring and subpanels, and a tankless water heater. A new rear driveway provides two off-street parking spaces. The North Berkeley setting is a short distance from UC Berkeley and within walking distance of Downtown Berkeley, BART, restaurants, and shopping. The configuration supports either separate occupancy of both units or an owner-occupant arrangement with one residence available for income use.
The property has undergone extensive building-system work, including new water, gas, and DWV plumbing, electrical wiring and subpanels, and a tankless water heater. A new rear driveway provides two off-street parking spaces. The North Berkeley setting is a short distance from UC Berkeley and within walking distance of Downtown Berkeley, BART, restaurants, and shopping. The configuration supports either separate occupancy of both units or an owner-occupant arrangement with one residence available for income use.
Key Highlights
- Two 3‑bedroom, 2‑bath residences within a 2,038‑square‑foot duplex
- Extensively renovated kitchens, bathrooms, flooring, doors, paint, windows, and appliances
- Major system upgrades include new plumbing, electrical wiring, subpanels, and tankless water heater
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
$48,931
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
3.27%
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%
$978,620
$978.6K
Cap Rate 7%
$699,014
$699.0K
Cap Rate 9%
$543,678
$543.7K
Market Conditions
NOI Build-Up for 2,156 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
$73.7K $34.20/SF
− Vacancy
−$3.8K −$1.78/SF
EGI
$69.9K $32.42/SF
− OpEx
−$21.0K −$9.73/SF
NOI
$48.9K $22.70/SF
Area
Berkeley, CA
Vacancy
5.20%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$978,620
Cap Rate 7%
$699,014
Cap Rate 9%
$543,678
Alternative Uses
Best Use
Multifamily LT 5
$699.0K
$611.6K – $815.5K
NOI $48,931 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$612.2K
$535.7K – $714.2K
NOI $42,852 @ 7.0% cap · market cap 2.87%
Theoretical Best
Specialty Retail
$833.8K
$729.6K – $972.8K
NOI $58,367 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,391
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?
Duplex - Two updated residences offer flexible ownership and investment use near campus, downtown, BART, dining, and shopping.
Where is this duplex located?
The property is located at 1818 Milvia St Berkeley, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath residences within a 2,038‑square‑foot duplex; Extensively renovated kitchens, bathrooms, flooring, doors, paint, windows, and appliances; Major system upgrades include new plumbing, electrical wiring, subpanels, and tankless water heater
