Berkeley Multifamily Property For
For Sale
$2,000,000
Ashby Ave, Berkeley, CA 94702
Well-maintained multifamily property with upgraded units in a prime location.
Property Size3,800 SF
Lot Size0.14 Acres
Price / SF$526.32
Days on Market389
Property Features for Ashby Ave
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.14 Acres
Property subtype
Commercial
Amenities
Carpet Flooring
Tile Flooring
Wall Furnace Heating
Building Details
Year Built
1954
Listing Agency:
MARCUS & MILLICHAP
(415) 625-2160
Listed By:
EMIL JELLINEK · License #02242403
(510) 384-1417
Source:
Corcoran
Added: Aug 11, 2025
Changed: Aug 11
Last Checked: Sep 2 at 7:21PM
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 MARCUS & MILLICHAP
Investment Insights
Based on property information with market context.
Located on Ashby Ave in Berkeley, CA, this property offers an investment opportunity with a well-maintained asset. The property includes four upgraded two-bedroom units and one four-bedroom unit. Each unit has been renovated with modern amenities and high-quality finishes. The property also features individually metered water for each unit.
Key Highlights
- Five units: Four upgraded 2‑bedroom units and one spacious 4‑bedroom unit.
- Individually metered water for each unit.
- Upgraded units with modern amenities and high‑quality finishes.
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
$86,241
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
4.31%
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%
$1,724,820
$1.7M
Cap Rate 7%
$1,232,014
$1.2M
Cap Rate 9%
$958,233
$958.2K
Market Conditions
NOI Build-Up for 3,800 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
$130.0K $34.20/SF
− Vacancy
−$6.8K −$1.78/SF
EGI
$123.2K $32.42/SF
− OpEx
−$37.0K −$9.73/SF
NOI
$86.2K $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%
$1,724,820
Cap Rate 7%
$1,232,014
Cap Rate 9%
$958,233
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,241 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$1.08M
$944.1K – $1.26M
NOI $75,528 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.71M
NOI $102,874 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,918
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained multifamily property with upgraded units in a prime location.
Where is this quadplex located?
The property is located at Ashby Ave Berkeley, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Five units: Four upgraded 2‑bedroom units and one spacious 4‑bedroom unit.; Individually metered water for each unit.; Upgraded units with modern amenities and high‑quality finishes.
