4-Unit Multifamily
2427-2429 San Pablo Ave, Berkeley, CA 94702
For Sale
Contact for pricing
Three apartments are leased, and electric and gas service are separately metered.
Property Size2,352 SF
Lot Size0.12 Acres
Price / SF$509.35
Days on Market34
Property Features for 2427-2429 San Pablo Ave
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Gross Rent Multiplier
Average Monthly Rent
Site & Location
Neighborhood
Road Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Listing Agency:
Marcus & Millichap - Palo Alto
Listed By:
Eymon Binesh · License CA #02060059
(650) 546-1030
Source:
Crexi
Added: Oct 8
Changed: Nov 8
Last Checked: Nov 8 at 4:46PM
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 Marcus & Millichap - Palo Alto
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property contains four apartments, each with one bedroom and one bathroom. Each unit measures 588 square feet, for 2,352 square feet across the building. The 0.12-acre parcel includes four surface parking spaces. Electric and gas are metered separately, and the property is zoned C-W (West Berkeley Commercial).
Three units are occupied, representing 75% occupancy. The property sits on San Pablo Avenue, near UC Berkeley, regional transit, and local dining and retail.
Three units are occupied, representing 75% occupancy. The property sits on San Pablo Avenue, near UC Berkeley, regional transit, and local dining and retail.
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- 588 square feet per apartment; 2,352 square feet total
- Three of four apartments leased (75% occupied)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,379
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,067,580
$1.1M
Cap Rate 7%
$762,557
$762.6K
Cap Rate 9%
$593,100
$593.1K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$80.4K $34.20/SF
− Vacancy
−$4.2K −$1.78/SF
EGI
$76.3K $32.42/SF
− OpEx
−$22.9K −$9.73/SF
NOI
$53.4K $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%
$1,067,580
Cap Rate 7%
$762,557
Cap Rate 9%
$593,100
Alternative Uses
Best Use
Multifamily LT 5
$762.6K
$667.2K – $889.7K
NOI $53,379 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$667.8K
$584.4K – $779.1K
NOI $46,748 @ 7.0% cap · market cap 3.90%
Theoretical Best
Specialty Retail
$909.6K
$795.9K – $1.06M
NOI $63,673 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
75%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,370
Businesses Nearby
Explore this area
Business Placement
Demographics for 94702, CA
17,637
Population
8,209
Households
2.1
Avg Household Size
39
Median Age
65%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
13,567
Density / Sq Mi
$99,135
Median Household Income
$66,516
Median Earnings
$1,974
Median Rent
$1,168,200
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in Berkeley, CA
Properties on Market for Quadplexes in Berkeley
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments are leased, and electric and gas service are separately metered.
Where is this quadplex located?
The property is located at 2427-2429 San Pablo Ave Berkeley, CA.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: Four apartments, each with 1 bedroom and 1 bathroom; 588 square feet per apartment; 2,352 square feet total; Three of four apartments leased (75% occupied)
