Fourplex with Four One-Bedroom
For Sale
$1,495,000
2923 Wheeler St, Berkeley, CA 94705
A 1910 residential property offers in-unit laundry in Unit D and rear off-street parking.
Property Size2,819 SF
Price / SF$530.33
Days on Market10
Property Features for 2923 Wheeler St
General Information
Standard status
Active
Size
2,819 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Leconte
Public Transit
Yes
Units
Unit Mix
4 x 1BD/1BA
Multifamily Units
4
Individually Metered Utilities
electricity, gas
Amenities
Wall Furnace
Dryer, Washer, Gas Water Heater
Off Street, Parking Lot
Building Details
Building Size
2,819 SF
Year Built
1910
Buildings
1
Listing Agency:
TCGOB, Inc
Listed By:
Carrie McAlister
(510) 292-7838
Source:
Evrealestate
Added: Oct 23
Changed: Oct 28
Last Checked: Nov 1 at 5:43AM
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 TCGOB, Inc
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Investment Insights
Based on property information with market context.
Built in 1910, this fourplex contains four one-bedroom, one-bathroom units, each with classic details. Unit D has in-unit laundry, and the units have separate PG&E service. Off-street parking is available in the rear parking area.
The property is in Berkeley, with UC Berkeley, Elmwood cafés and shops, Berkeley Bowl, Whole Foods, parks, and transit options nearby. Its reported scores are 99 for biking, 92 for walking, and 65 for transit.
The property is in Berkeley, with UC Berkeley, Elmwood cafés and shops, Berkeley Bowl, Whole Foods, parks, and transit options nearby. Its reported scores are 99 for biking, 92 for walking, and 65 for transit.
Key Highlights
- Four one‑bedroom, one‑bathroom units
- Built in 1910
- Separate PG&E service for the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,978
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,560
$1.3M
Cap Rate 7%
$913,971
$914.0K
Cap Rate 9%
$710,867
$710.9K
Market Conditions
NOI Build-Up for 2,819 SF
Gross rent
$96.4K $34.20/SF
− Vacancy
−$5.0K −$1.78/SF
EGI
$91.4K $32.42/SF
− OpEx
−$27.4K −$9.73/SF
NOI
$64.0K $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%
$1,279,560
Cap Rate 7%
$913,971
Cap Rate 9%
$710,867
Alternative Uses
Best Use
Multifamily LT 5
$914.0K
$799.7K – $1.07M
NOI $63,978 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$800.4K
$700.4K – $933.8K
NOI $56,030 @ 7.0% cap · market cap 3.75%
Theoretical Best
Specialty Retail
$1.09M
$954.0K – $1.27M
NOI $76,316 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,070
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - A 1910 residential property offers in-unit laundry in Unit D and rear off-street parking.
Where is this quadplex located?
The property is located at 2923 Wheeler St Berkeley, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom units; Built in 1910; Separate PG&E service for the units
