Two-Building Multifamily
For Sale
$1,600,000
2925 Mabel St, Berkeley, CA 94702
Seven-unit multifamily property with a converted Victorian and a rear fourplex, featuring recent capital improvements.
Property Size4,633 SF
Days on Market108
Property Features for 2925 Mabel St
General Information
Standard status
Active
Size
4,633 SF
Property subtype
5 or More Units
Site & Location
Neighborhood
South Berkeley
Highway Access
Yes
Additional Details
Cap Rate
6.08%
Multifamily Units
7
Building Details
Building Size
4,633 SF
Year Built
1889
Construction
Victorian-style
Tenancy
Multi
Listing Agency:
BCRE
Listed By:
Davide Pio · License #01522969
(510) 815-2000
Source:
Annnewtoncane
Added: Jul 22
Changed: Nov 2
Last Checked: Nov 4 at 10:49PM
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 BCRE
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Investment Insights
Based on property information with market context.
This seven-unit multifamily property consists of two separate buildings: a Victorian-style residence converted into three units, plus a separate fourplex in the rear. The Victorian building includes one 3 bed/2 bath unit and two studio units. The rear fourplex contains four 1 bed/1 bath units. Recent capital improvements noted include a new driveway, new electric subpanels in the Victorian, completed sewer lateral work, and SB 721 balcony clearance.
The property is located in Southwest Berkeley, under one mile from Ashby BART and provides quick access to Highway 80 for connectivity to Oakland, San Francisco, and the East Bay. The area is also described as offering close proximity to UC Berkeley and Emeryville activities, with walkability and transit access reflected in the provided scores.
Utilities are separately metered, with separate electric and gas meters, and separate water meters for each building (two total). The listing also notes that the Victorian residence can be delivered vacant and highlights potential flexibility including conversion back to a single-family home or a potential lot split for independent sale of the two buildings.
The property is located in Southwest Berkeley, under one mile from Ashby BART and provides quick access to Highway 80 for connectivity to Oakland, San Francisco, and the East Bay. The area is also described as offering close proximity to UC Berkeley and Emeryville activities, with walkability and transit access reflected in the provided scores.
Utilities are separately metered, with separate electric and gas meters, and separate water meters for each building (two total). The listing also notes that the Victorian residence can be delivered vacant and highlights potential flexibility including conversion back to a single-family home or a potential lot split for independent sale of the two buildings.
Key Highlights
- Seven‑unit multifamily property with a Victorian‑style residence (3 units) and a rear fourplex (4 units)
- Victorian residence converted to 3 units: 1 unit with 3 bed/2 bath plus two studios (can be delivered vacant)
- Rear fourplex includes four 1 bed/1 bath units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,146
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,102,920
$2.1M
Cap Rate 7%
$1,502,086
$1.5M
Cap Rate 9%
$1,168,289
$1.2M
Market Conditions
NOI Build-Up for 4,633 SF
Gross rent
$158.4K $34.20/SF
− Vacancy
−$8.2K −$1.78/SF
EGI
$150.2K $32.42/SF
− OpEx
−$45.1K −$9.73/SF
NOI
$105.1K $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%
$2,102,920
Cap Rate 7%
$1,502,086
Cap Rate 9%
$1,168,289
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,146 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.53M
NOI $92,085 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$1.79M
$1.57M – $2.09M
NOI $125,425 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,175
Businesses Nearby
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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
$1,168,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Berkeley, CA
Properties on Market for Apartment buildings in Berkeley
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit multifamily property with a converted Victorian and a rear fourplex, featuring recent capital improvements.
Where is this apartment building located?
The property is located at 2925 Mabel St Berkeley, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Seven‑unit multifamily property with a Victorian‑style residence (3 units) and a rear fourplex (4 units); Victorian residence converted to 3 units: 1 unit with 3 bed/2 bath plus two studios (can be delivered vacant); Rear fourplex includes four 1 bed/1 bath units
