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    Berkeley Multifamily Investment Opportunity Title is generated by Realmo AI

    Shattuck Avenue, Berkeley, CA 94709

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    For Sale
    $8,450,000

    19-unit apartment building near UC Berkeley with recent renovations.

    Type:Commercial
    Property size:
    19,863 SF
    Lot size:
    0.31 Acres
    Price / SF:
    $425/SF
    Added:
    May 31, 2025
    Days on Market:
    372
    Last Refresh:
    Apr 5 at 8:22 pm

    Property Features for Shattuck Avenue

    General Information

    Standard status
    Active
    Size
    19,863 SF
    Lot size
    0.31 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    ROBERT JOHNSTON
    ROBERT JOHNSTON

    Listing agent ROBERT JOHNSTON License #01853816

    Listing office MARCUS & MILLICHAP

    Listing date May 31, 2025

    Source Corcoran

    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

    HighLights

    • Prime location near UC Berkeley and Downtown Berkeley, offering convenient access to shopping, dining, and entertainment.
    • Recently underwent extensive capital improvements, including updated kitchens with granite countertops and modern cabinetry, updated bathrooms, and hardwood flooring.
    • Complete earthquake retrofit ensures structural safety and peace of mind.
    • Features a mix of unit types (three‑bedroom, two‑bedroom, one‑bedroom, and studio) to attract a wide range of tenants.
    • Fully renovated exteriors enhance curb appeal and property value.
    • Located across the street from a thriving community center and park with tennis and basketball courts.

    Overview

    The property at Shattuck Avenue in Berkeley, California, presents a 19-unit apartment community. Constructed in 1964, the building has a gross area of approximately 19,863 square feet and is situated on two parcels totaling approximately 13,375 square feet. The property features a mix of three-bedroom, two-bedroom, one-bedroom, and studio floor plans. Recent capital improvements include hardwood flooring, updated kitchens with granite countertops, modern cabinetry, high-end finishes and fixtures, and updated bathrooms. The property has also undergone a complete earthquake retrofit and exterior renovations. The building is located near the University of California, Berkeley, and Downtown Berkeley, which offers shopping, dining, and entertainment. A community center and park with tennis and basketball courts are located across the street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Berkeley
    County
    Alameda
    State
    California
    Longitude
    -122.2680053
    Latitude
    37.8713984

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    FAQs

    What type of property is this?
    Apartment building - 19-unit apartment building near UC Berkeley with recent renovations.
    Where is this apartment building located?
    The property is located at Shattuck Avenue Berkeley, CA.
    What is the asking price?
    The asking price for this property is $8,450,000.
    What are key features of this property?
    This property features: Prime location near UC Berkeley and Downtown Berkeley, offering convenient access to shopping, dining, and entertainment.; Recently underwent extensive capital improvements, including **updated kitchens with granite countertops and modern cabinetry, updated bathrooms, and hardwood flooring.**; **Complete earthquake retrofit ensures structural safety and peace of mind.**
    (650) 391-1700
    We can help!
    Listing Contact
    ROBERT JOHNSTON
    ROBERT JOHNSTON
    Real Estate License ID: 01853816
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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