Fourplex with Off-Street
For Sale
$1,495,000
2923 Wheeler St, Berkeley, CA 94705
MULTI_FAMILY - Berkeley, CA
Property Size2,819 SF
Lot Size0.12 Acres
Price / SF$530.33
Days on Market11
Property Features for 2923 Wheeler St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
Parking Lot, Off Street
Window features
Window Coverings
Interior features
Shower Stall(s), Tub w/Shower Over
Exterior features
Back Yard, Side Yard
Appliances
Dryer, Washer, Gas Water Heater
Subdivision
CENTRAL BERKELEY
Lot features
Rectangular Lot
High school district
Berkeley (510) 644-6150
Standard status
Active
APN
52158221
Size
2,819 SF
Lot size
0.12 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1910
Flooring type
Laminate, Tile
Building materials
Stucco, Wood Siding
Listing Agency:
KW Advisors East Bay · Keller Williams Realty
(510) 775-1079
Listed By:
Carrie McAlister
(510) 292-7838
Added: Jul 22
Changed: Jul 31
Last Checked: Aug 1 at 12:06PM
MLS# 41142431
Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This early 1900s fourplex features four separate 1 bed and 1 bath units. The building includes classic details and a gas water heater, with wall furnace heating. Each unit has its own PG&E, supporting individual utility control, and laundry is included in unit D. Interior finishes include laminate and tile flooring, with tub and shower options noted in the unit features.
Exterior amenities include a back yard and side yard. Off-street parking is provided via a parking lot, and there is an ample parking area to the back of the parcel with potential for future development. Water service is public, and the property is connected to public sewer.
Built in 1910, the property is located at 2923 Wheeler St in Berkeley, California.
Exterior amenities include a back yard and side yard. Off-street parking is provided via a parking lot, and there is an ample parking area to the back of the parcel with potential for future development. Water service is public, and the property is connected to public sewer.
Built in 1910, the property is located at 2923 Wheeler St in Berkeley, California.
Key Highlights
- Early 1900s fourplex built in 1910
- Four 1 bed 1 bath units
- Separate PG&E for each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.4k | $34.20 |
| − Vacancy | −$5.0k | −$1.78 |
| EGI | $91.4k | $32.42 |
| − OpEx | −$27.4k | −$9.73 |
| NOI | $64.0k | $22.70 |
2,819 SF · lease $34.20/SF/yr · vacancy 5.20% · expense 30.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,070
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?
Quadplex - Early 1900s Berkeley fourplex with four 1 bed 1 bath units, separate PG&E, and 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: Early 1900s fourplex built in 1910; Four 1 bed 1 bath units; Separate PG&E for each unit
