Renovated Six-Unit Multifamily
For Sale
$3,285,000
3411 Adeline St, Berkeley, CA 94703
Stabilized six-unit property built in 1940 with fully remodeled units and separate gas and electric metering.
Property Size6,216 SF
Price / SF$529.16
Days on Market194
Property Features for 3411 Adeline St
General Information
Standard status
Active
Size
6,216 SF
Property subtype
5 or More Units
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
6
Building Details
Building Size
6,216 SF
Year Built
1940
Tenancy
Multi
Listing Agency:
Kite Hill Real Estate
Listed By:
Jatin Mehta, · License #02045713
(415) 795-2797
Source:
Remaxaccord
Added: Apr 11
Changed: Oct 20
Last Checked: Oct 19 at 1:57PM
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 Kite Hill Real Estate
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Investment Insights
Based on property information with market context.
3411 Adeline St is a stabilized, fully renovated six-unit multifamily property built in 1940. The building offers a unit mix including two 3BD/2BA ADUs, one large 3BD/2BA unit, one 4BD/3BA unit, and two 4BD/4BA units. Across the rentable space, all units have been fully remodeled, including brand new windows, appliances, and hardwood flooring.
The property is 100% occupied at market rate. Each unit is separately metered for gas and electric, with tenants currently paying PG&E. The structure is also sub-metered for water, sewer, and trash, supporting the possibility of recapturing utility expense by implementing RUBS.
Conveniently located for regional access, the property is described as being near major highways, with multiple bus routes and BART stations available for commuting.
The property is 100% occupied at market rate. Each unit is separately metered for gas and electric, with tenants currently paying PG&E. The structure is also sub-metered for water, sewer, and trash, supporting the possibility of recapturing utility expense by implementing RUBS.
Conveniently located for regional access, the property is described as being near major highways, with multiple bus routes and BART stations available for commuting.
Key Highlights
- Stabilized six‑unit multifamily built in 1940 with 6,208 SF of rentable space
- Unit mix includes two 3bd/2bth ADUs, one large 3bd/2bth unit, one 4bd/3bth unit, and two 4bd/4bth units
- 100% occupied at market rate, offering steady income with all units currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,390
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,467,800
$2.5M
Cap Rate 7%
$1,762,714
$1.8M
Cap Rate 9%
$1,371,000
$1.4M
Market Conditions
NOI Build-Up for 6,208 SF
Gross rent
$236.2K $38.04/SF
− Vacancy
−$11.8K −$1.90/SF
EGI
$224.3K $36.14/SF
− OpEx
−$101.0K −$16.26/SF
NOI
$123.4K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,467,800
Cap Rate 7%
$1,762,714
Cap Rate 9%
$1,371,000
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.06M
NOI $123,390 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $168,063 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,281
Businesses Nearby
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Business Placement
Demographics for 94703, CA
20,805
Population
9,654
Households
2.2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
16,004
Density / Sq Mi
$108,922
Median Household Income
$66,261
Median Earnings
$2,257
Median Rent
$1,273,000
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
Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized six-unit property built in 1940 with fully remodeled units and separate gas and electric metering.
Where is this apartment building located?
The property is located at 3411 Adeline St Berkeley, CA.
What is the asking price?
The asking price for this property is $3,285,000.
What are key features of this property?
This property features: Stabilized six‑unit multifamily built in 1940 with 6,208 SF of rentable space; Unit mix includes two 3bd/2bth ADUs, one large 3bd/2bth unit, one 4bd/3bth unit, and two 4bd/4bth units; 100% occupied at market rate, offering steady income with all units currently rented
