Renovated Four-Unit
For Sale
$1,898,000
3014 College Avenue, Berkeley, CA 94705
Four one-bedroom units feature remodeled kitchens and private outdoor decks.
Property Size2,645 SF
Days on Market9
Property Features for 3014 College Avenue
General Information
Standard status
Active
Size
2,645 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 1BD/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
stone fireplace
vintage greenhouse
Building Details
Building Size
2,645 SF
Year Built
1907
Listing Agency:
Village Associates Real Estate
Listed By:
Rebecca Ciccio
(917) 482-6780
Source:
Remaxaccord
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 24 at 5:42PM
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 Village Associates Real Estate
Investment Insights
Based on property information with market context.
Built in 1907, this four-unit residential property includes four 1BD/1BA residences with remodeled kitchens, open living and dining areas, updated bathrooms, and bright bedrooms. Kitchen improvements include classic cabinetry, quartz countertops, and stainless-steel appliances. Each residence connects to its own large deck, creating direct access to the landscaped grounds.
Outdoor improvements include a stone fireplace and a vintage greenhouse, with private garden areas suitable for gardening, entertaining, or recreation. The property is located at 3014 College Avenue in Berkeley, near the restaurants and shops along College Avenue, Star Market, Claremont Club & Spa, UC Berkeley, and public transit.
Outdoor improvements include a stone fireplace and a vintage greenhouse, with private garden areas suitable for gardening, entertaining, or recreation. The property is located at 3014 College Avenue in Berkeley, near the restaurants and shops along College Avenue, Star Market, Claremont Club & Spa, UC Berkeley, and public transit.
Key Highlights
- Four 1BD/1BA units in a quadplex configuration
- Built in 1907 with renovated interiors
- Remodeled kitchens with quartz countertops and stainless‑steel appliances
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
$60,029
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
3.16%
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%
$1,200,580
$1.2M
Cap Rate 7%
$857,557
$857.6K
Cap Rate 9%
$666,989
$667.0K
Market Conditions
NOI Build-Up for 2,645 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
$90.5K $34.20/SF
− Vacancy
−$4.7K −$1.78/SF
EGI
$85.8K $32.42/SF
− OpEx
−$25.7K −$9.73/SF
NOI
$60.0K $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 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%
$1,200,580
Cap Rate 7%
$857,557
Cap Rate 9%
$666,989
Alternative Uses
Best Use
Multifamily LT 5
$857.6K
$750.4K – $1.00M
NOI $60,029 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$751.0K
$657.2K – $876.2K
NOI $52,572 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$1.02M
$895.1K – $1.19M
NOI $71,605 @ 7.0% cap · market cap 3.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,402
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom units feature remodeled kitchens and private outdoor decks.
Where is this quadplex located?
The property is located at 3014 College Avenue Berkeley, CA.
What is the asking price?
The asking price for this property is $1,898,000.
What are key features of this property?
This property features: Four 1BD/1BA units in a quadplex configuration; Built in 1907 with renovated interiors; Remodeled kitchens with quartz countertops and stainless‑steel appliances
