Renovated Duplex with Private
New
For Sale
$999,000
1841 Cedar ST, Berkeley, CA 94703
Two one-bedroom residences offer individual garages, laundry rooms, and access to a private garden patio.
Property Size1,589 SF
Price / SF$628.70
Days on Market3
Property Features for 1841 Cedar ST
General Information
Standard status
Active
Size
1,589 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
laundry rooms
garden
patio
Building Details
Year Built
1948
Listing Agency:
Golden Gate Sothebys Intl Rlty
(510) 883-7000
Listed By:
Stefan Isaksen · License #01936811
(510) 725-7802
Source:
Exitrealty
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 3:01PM
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 Golden Gate Sothebys Intl Rlty
Investment Insights
Based on property information with market context.
This duplex contains two one-bedroom, one-bathroom units, each with a private garage and dedicated laundry room. The 1,589-square-foot property was built in 1948, and the 1841 unit has been updated with a new kitchen, bathroom, flooring, lighting, and select windows. An open-concept layout provides direct access to the backyard, which includes a private garden and patio.
Unit 1843 is currently occupied. The property is located near North Berkeley dining and shopping, including Chez Panisse, Cheeseboard, Fava, and Monterey Market, with North Berkeley BART also within walking distance. Walk Score is 94 and Bike Score is 95.
Unit 1843 is currently occupied. The property is located near North Berkeley dining and shopping, including Chez Panisse, Cheeseboard, Fava, and Monterey Market, with North Berkeley BART also within walking distance. Walk Score is 94 and Bike Score is 95.
Key Highlights
- Two 1 bedroom, 1 bathroom units
- Private garage and laundry room for each unit
- 1,589 SF duplex built in 1948
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
$36,063
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
3.61%
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%
$721,260
$721.3K
Cap Rate 7%
$515,186
$515.2K
Cap Rate 9%
$400,700
$400.7K
Market Conditions
NOI Build-Up for 1,589 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
$54.3K $34.20/SF
− Vacancy
−$2.8K −$1.78/SF
EGI
$51.5K $32.42/SF
− OpEx
−$15.5K −$9.73/SF
NOI
$36.1K $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%
$721,260
Cap Rate 7%
$515,186
Cap Rate 9%
$400,700
Alternative Uses
Best Use
Multifamily LT 5
$515.2K
$450.8K – $601.1K
NOI $36,063 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$451.2K
$394.8K – $526.4K
NOI $31,583 @ 7.0% cap · market cap 3.16%
Theoretical Best
Specialty Retail
$614.5K
$537.7K – $717.0K
NOI $43,017 @ 7.0% cap · market cap 4.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,614
Businesses Nearby
Explore this area
Business Placement
Demographics for 94703, CA
20,805
Population
9,654
Households
2.2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
16,004
Density / Sq Mi
$108,922
Median Household Income
$66,261
Median Earnings
$2,257
Median Rent
$1,273,000
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 one-bedroom residences offer individual garages, laundry rooms, and access to a private garden patio.
Where is this duplex located?
The property is located at 1841 Cedar ST Berkeley, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two 1 bedroom, 1 bathroom units; Private garage and laundry room for each unit; 1,589 SF duplex built in 1948
