Two-Unit Duplex with
For Sale
$2,490,000
2378 Virginia Street, Berkeley, CA 94709
Each residence includes five bedrooms and two bathrooms, with both units delivered vacant.
Property Size3,330 SF
Price / SF$747.75
Days on Market81
Property Features for 2378 Virginia Street
General Information
Standard status
Active
Size
3,330 SF
Total Parking Spaces
3
Property subtype
RESIDENTIAL INCOME / DUPLEX
Amenities
No Air Conditioning, Wall Furnace
Building Details
Year Built
1928
Buildings
1
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Grace Sun · License #01945799
(626) 500-7082
Source:
Compass
Added: Aug 2
Changed: Oct 16
Last Checked: Oct 20 at 11:23PM
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
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Investment Insights
Based on property information with market context.
Built in 1928, this duplex contains two substantial residences, each configured with five bedrooms and two bathrooms. The property offers approximately 4,500 square feet overall, along with three off-street parking spaces. Both units are scheduled for delivery vacant, allowing the next owner to determine the occupancy arrangement.
The property is positioned on Virginia St in Berkeley, near the University of California, Berkeley, downtown Berkeley BART, North Shattuck Corridor shops and eateries, restaurants, performing arts theaters, and music venues. Its two-unit layout supports a range of residential strategies, including occupying one residence while leasing the other or accommodating multigenerational living.
The property is positioned on Virginia St in Berkeley, near the University of California, Berkeley, downtown Berkeley BART, North Shattuck Corridor shops and eateries, restaurants, performing arts theaters, and music venues. Its two-unit layout supports a range of residential strategies, including occupying one residence while leasing the other or accommodating multigenerational living.
Key Highlights
- Two residences, each with 5 bedrooms and 2 bathrooms
- Approximately 4,500 square feet across the duplex
- Both units delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,575
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,511,500
$1.5M
Cap Rate 7%
$1,079,643
$1.1M
Cap Rate 9%
$839,722
$839.7K
Market Conditions
NOI Build-Up for 3,330 SF
Gross rent
$113.9K $34.20/SF
− Vacancy
−$5.9K −$1.78/SF
EGI
$108.0K $32.42/SF
− OpEx
−$32.4K −$9.73/SF
NOI
$75.6K $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 Rate 5%
$1,511,500
Cap Rate 7%
$1,079,643
Cap Rate 9%
$839,722
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$944.7K – $1.26M
NOI $75,575 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$945.5K
$827.3K – $1.10M
NOI $66,187 @ 7.0% cap · market cap 2.66%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.50M
NOI $90,150 @ 7.0% cap · market cap 3.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,536
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes five bedrooms and two bathrooms, with both units delivered vacant.
Where is this duplex located?
The property is located at 2378 Virginia Street Berkeley, CA.
What is the asking price?
The asking price for this property is $2,490,000.
What are key features of this property?
This property features: Two residences, each with 5 bedrooms and 2 bathrooms; Approximately 4,500 square feet across the duplex; Both units delivered vacant
