Triplex with Vacant Upper
New
For Sale
$1,148,000
3048 Halcyon Ct, Berkeley, CA 94705
Berkeley income property with original hardwood floors, updated bathrooms, and abundant natural light throughout.
Property Size2,753 SF
Price / SF$416
Days on Market3
Property Features for 3048 Halcyon Ct
General Information
Standard status
Active
Size
2,753 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA, 1 x studio
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1922
Listing Agency:
The GRUBB Company
(510) 339-0400
Listed By:
Tiffany Lefour · License #02017456
(510) 912-6310
Source:
Exitrealty
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 2:35PM
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 The GRUBB Company
Investment Insights
Based on property information with market context.
Built in 1922, this Berkeley triplex contains a 2/1 apartment, a 1/1 apartment currently offered vacant, and a spacious studio. Original hardwood flooring, updated bathrooms, and numerous windows are featured across the units. The property measures 2,753 square feet and includes an upper-level residence with strong natural light.
Located at 3048 Halcyon Ct, the property is across from Halcyon Commons mini park and positioned between Shattuck, Ashby, and Telegraph Avenues, with College Avenue a few blocks away. Berkeley Bowl, Whole Foods, local restaurants, bars, and cafes are nearby. Ashby BART is less than a mile away, while the property also offers access to multiple public transit routes and an 8-minute bicycle trip to UC Berkeley campus.
Located at 3048 Halcyon Ct, the property is across from Halcyon Commons mini park and positioned between Shattuck, Ashby, and Telegraph Avenues, with College Avenue a few blocks away. Berkeley Bowl, Whole Foods, local restaurants, bars, and cafes are nearby. Ashby BART is less than a mile away, while the property also offers access to multiple public transit routes and an 8-minute bicycle trip to UC Berkeley campus.
Key Highlights
- Triplex totaling 2,753 square feet
- Unit mix: 2/1, 1/1, and spacious studio
- 1/1 unit is vacant and located on the upper level
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
$62,480
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
5.44%
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%
$1,249,600
$1.2M
Cap Rate 7%
$892,571
$892.6K
Cap Rate 9%
$694,222
$694.2K
Market Conditions
NOI Build-Up for 2,753 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
$94.2K $34.20/SF
− Vacancy
−$4.9K −$1.78/SF
EGI
$89.3K $32.42/SF
− OpEx
−$26.8K −$9.73/SF
NOI
$62.5K $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%
$1,249,600
Cap Rate 7%
$892,571
Cap Rate 9%
$694,222
Alternative Uses
Best Use
Multifamily LT 5
$892.6K
$781.0K – $1.04M
NOI $62,480 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$781.7K
$684.0K – $912.0K
NOI $54,718 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$1.06M
$931.6K – $1.24M
NOI $74,529 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,160
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?
Triplex - Berkeley income property with original hardwood floors, updated bathrooms, and abundant natural light throughout.
Where is this triplex located?
The property is located at 3048 Halcyon Ct Berkeley, CA.
What is the asking price?
The asking price for this property is $1,148,000.
What are key features of this property?
This property features: Triplex totaling 2,753 square feet; Unit mix: 2/1, 1/1, and spacious studio; 1/1 unit is vacant and located on the upper level
