4-Unit Apartment
2431-2433 San Pablo Ave, Berkeley, CA 94702
For Sale
Contact for pricing
All four apartments have one bedroom and one bathroom, with off-street parking on site.
Property Size2,352 SF
Lot Size0.13 Acres
Price / SF$509.35
Days on Market34
Property Features for 2431-2433 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
Site & Location
Neighborhood
Road Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
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 4:32PM
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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Investment Insights
Based on property information with market context.
Built in 1942, this four-unit apartment property contains 2,352 square feet on a 0.13-acre parcel. Each apartment measures 588 square feet and is configured with one bedroom and one bathroom. The property is fully occupied and includes four off-street parking spaces.
The property is on San Pablo Avenue in Berkeley. Its land-use designations are C-W (West Berkeley Commercial) zoning and AC (Avenue Commercial) under the General Plan. The source information reports an in-place capitalization rate of 5.38%.
The property is on San Pablo Avenue in Berkeley. Its land-use designations are C-W (West Berkeley Commercial) zoning and AC (Avenue Commercial) under the General Plan. The source information reports an in-place capitalization rate of 5.38%.
Key Highlights
- Four apartments, each with one bedroom and one bathroom
- 2,352 square feet of building area on a 0.13‑acre lot
- Built in 1942; each apartment measures 588 square feet
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
100%
Occupancy
Yes
Paved road access
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 - All four apartments have one bedroom and one bathroom, with off-street parking on site.
Where is this quadplex located?
The property is located at 2431-2433 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 one bedroom and one bathroom; 2,352 square feet of building area on a 0.13‑acre lot; Built in 1942; each apartment measures 588 square feet
