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Listed by Eymon Binesh • Marcus & Millichap, DRE#02060059
$ 1,198,000
Est. payment /mo
New
2433 San Pablo AVE Berkeley, CA 94702
4 Beds
4 Baths
2,352 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,352 sqft
Price per Sqft $509
MLS Listing ID ML82063627
Bedrooms 4
Full Baths 4
Year Built 1942
Lot Size 5,450 Sqft
Property Sub-Type Fourplex
Property Description
Fully Occupied 4-Unit Value-Add Opportunity on Berkeley's San Pablo Avenue Corridor! This uniform four-unit multifamily asset features all one-bedroom, one-bathroom apartments at 588 SF each, plus four surface parking spaces a rare and valuable amenity in this walkable Berkeley submarket. 100% occupied with in-place rents currently running 8% below market, the property offers investors dependable in-place income (5.38% cap rate) plus clear upside as rents move toward market levels (6.13% pro forma cap). Individually metered electric and gas keep operating costs predictable, while the property's location along the vibrant San Pablo Avenue corridor steps from local restaurants, cafes, and neighborhood retail supports strong, consistent renter demand. Zoned C-W (West Berkeley Commercial) under the Avenue Commercial General Plan, this well-positioned asset combines a clean, easy-to-manage unit mix with genuine rent growth potential in one of the East Bay's most enduring rental markets. Priced at $1,198,000 ($299,500/unit, $509/SF).
Location
State CA
County Alameda
Area Berkeley Map Area 7
Zoning C-W
Interior
Heating Gas
Cooling None
Exterior
Parking Features Off-Street Parking
Utilities Available Public Utilities
Roof Type Rolled Composition
Building
Story 2
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Level or Stories 2
Others
Tax ID 056-1928-021
Security Features None
Horse Property No
Special Listing Condition Not Applicable
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