Victorian-Style 8-Unit Apartment
For Sale
$1,995,000
2807 Shattuck Avenue, Berkeley, CA 94705
Historic multifamily property with individually metered utilities, on-site laundry, and rear parking.
Property Size5,000 SF
Price / SF$399
Days on Market13
Property Features for 2807 Shattuck Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
General Commercial
Net Operating Income
$98,000
Units
Unit Mix
6 x studio, 1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
8
Additional Details
Gross Income
$146,000
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$24,584
Amenities
on-site laundry
parking lot
Shingle
6 Parking Spaces.
Building Details
Year Built
1896
Buildings
1
Construction
Victorian
Listing Agency:
(650) 799-9205
Listed By:
Luxmore Real Estate
Source:
Xome
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 10 at 3:37AM
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 Luxmore Real Estate
Investment Insights
Based on property information with market context.
Built in 1896, this Victorian-style apartment property contains 8 units across approximately 5,000 square feet. The unit mix includes 6 studios, 1 one-bedroom, one-bath unit, and 1 three-bedroom, one-bath unit. Gas and electric service are individually metered by unit, and the property includes on-site laundry facilities.
Located at 2807 Shattuck Avenue in Berkeley, the building is positioned near UC Berkeley. A parking lot at the rear provides 6 parking spaces. The property combines period character with a varied unit configuration and practical on-site amenities.
Located at 2807 Shattuck Avenue in Berkeley, the building is positioned near UC Berkeley. A parking lot at the rear provides 6 parking spaces. The property combines period character with a varied unit configuration and practical on-site amenities.
Key Highlights
- 8‑unit apartment property built in 1896
- Unit mix: 6 studios, 1 1 Bed 1 Bath, and 1 3‑bed 1 Bath unit
- Approximately 5,000 square feet
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
$99,380
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
4.98%
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%
$1,987,600
$2.0M
Cap Rate 7%
$1,419,714
$1.4M
Cap Rate 9%
$1,104,222
$1.1M
Market Conditions
NOI Build-Up for 5,000 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
$190.2K $38.04/SF
− Vacancy
−$9.5K −$1.90/SF
EGI
$180.7K $36.14/SF
− OpEx
−$81.3K −$16.26/SF
NOI
$99.4K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,987,600
Cap Rate 7%
$1,419,714
Cap Rate 9%
$1,104,222
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.66M
NOI $99,380 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.26M
NOI $135,360 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,203
Businesses Nearby
Explore this area
Business Placement
Demographics for 94705, CA
13,591
Population
6,335
Households
2.1
Avg Household Size
42
Median Age
79%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
3,997
Density / Sq Mi
$163,254
Median Household Income
$75,864
Median Earnings
$2,330
Median Rent
$1,892,300
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?
Apartment building - Historic multifamily property with individually metered utilities, on-site laundry, and rear parking.
Where is this apartment building located?
The property is located at 2807 Shattuck Avenue Berkeley, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 8‑unit apartment property built in 1896; Unit mix: 6 studios, 1 1 Bed 1 Bath, and 1 3‑bed 1 Bath unit; Approximately 5,000 square feet
