Victorian Duplex with Gated
For Sale
$799,000
Pending
3202 Shattuck Ave, Berkeley, CA 94705
Vacant two-unit residence with separate entries, period details, and flexible owner-occupant potential.
Property Size2,238 SF
Days on Market97
Property Features for 3202 Shattuck Ave
General Information
Standard status
Pending
Size
2,238 SF
Property subtype
Multi Family
Building Details
Year Built
1904
Listing Agency:
Red Oak Realty
(510) 915-0702
Listed By:
Richard Morrison · License #00933822
(510) 915-0702
Source:
Exitrealty
Added: May 27
Changed: Aug 30
Last Checked: Aug 30 at 3:17PM
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 Red Oak Realty
Investment Insights
Based on property information with market context.
This 2,238-square-foot duplex occupies a Victorian residence built in 1904, with one unit on each floor and independent access from a gated garden. The upper residence includes three bedrooms, generous living and dining rooms, high ceilings, large windows, hardwood flooring, and original built-in cabinetry. The lower unit offers two bedrooms, a front living room, formal dining space, built-in storage, hardwood floors, and a kitchen with a designated laundry area.
Both residences are vacant. The garden includes plum and lemon trees along with planted herbs, creating a private outdoor area connected to the entrances. The property records a Walk Score of 93 out of 100 and a BESO score of 1. Its Berkeley address places the duplex near the Starry Plough and the surrounding Berkeley cultural scene.
Both residences are vacant. The garden includes plum and lemon trees along with planted herbs, creating a private outdoor area connected to the entrances. The property records a Walk Score of 93 out of 100 and a BESO score of 1. Its Berkeley address places the duplex near the Starry Plough and the surrounding Berkeley cultural scene.
Key Highlights
- 2,238 SF Victorian duplex built in 1904
- Two vacant units with separate entrances
- Upper unit includes 3 bedrooms; lower unit includes 2 bedrooms
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
$50,792
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
6.36%
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%
$1,015,840
$1.0M
Cap Rate 7%
$725,600
$725.6K
Cap Rate 9%
$564,356
$564.4K
Market Conditions
NOI Build-Up for 2,238 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
$76.5K $34.20/SF
− Vacancy
−$4.0K −$1.78/SF
EGI
$72.6K $32.42/SF
− OpEx
−$21.8K −$9.73/SF
NOI
$50.8K $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%
$1,015,840
Cap Rate 7%
$725,600
Cap Rate 9%
$564,356
Alternative Uses
Best Use
Multifamily LT 5
$725.6K
$634.9K – $846.5K
NOI $50,792 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$635.5K
$556.0K – $741.4K
NOI $44,482 @ 7.0% cap · market cap 5.57%
Theoretical Best
Specialty Retail
$865.5K
$757.3K – $1.01M
NOI $60,587 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,325
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?
Duplex - Vacant two-unit residence with separate entries, period details, and flexible owner-occupant potential.
Where is this duplex located?
The property is located at 3202 Shattuck Ave Berkeley, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,238 SF Victorian duplex built in 1904; Two vacant units with separate entrances; Upper unit includes 3 bedrooms; lower unit includes 2 bedrooms
