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$1,198,000
 $6,431 est/mo Sourced by Back At You

2429 San Pablo Avenue,Berkeley, CA 94702

Berkeley, CA 94702

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Description

Four-Unit Value-Add Opportunity in Berkeleys West Berkeley Corridor! This uniform four-unit multifamily asset has four 1-bedroom, 1-bathroom apartments at 588 SF each (2,352 SF total) on a 0.12-acre lot, with four dedicated surface parking spaces. Three of the four units are leased (75% occupied), and the vacant unit lets a buyer set it at the $2,500 market rent on day one. In-place rents average ~$2,357 per unit, about 6% below market. In-place NOI of ~$69.6K (5.81% cap, 10.59 GRM) grows to a projected ~$76.3K stabilized NOI (6.37% pro forma cap, 9.98 GRM) as the building leases up and rents reach market. Electric and gas are individually metered, keeping owner-paid utilities low. Located along San Pablo Avenue, one of the East Bays most established residential and commercial corridors, near UC Berkeley, regional transit, and local dining and retail. Zoned C-W (West Berkeley Commercial). Priced at $1,198,000 ($299,500/unit, $509/SF).

Details

MLS #ML82063628
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1942
Days On Site15
Listing Provided ByMarcus & Millichap | Eymon Binesh

Features

SQ Feet2,352
Story(s)2
Building(s)1
ZoningC-W
Acreage0.12

Interior

CoolingNone
Heating Yes / NoYes
Cooling Yes / NoYes

Exterior

Foundation DetailsConcrete Perimeter

Parking

Parking FeaturesOff Street
Garage Yes / NoNo

Utilities

SewerPublic Sewer

Taxes

Property20939

Area Information

StateCA
CountyAlameda
CityBerkeley
Zip Code94702
Area699 Not Defined
Listing VS Median (in 94702)
Price:
$1,198,000
low | high
Med:
$975,000
68.614357262104% of Average
sqft:
2,352
low | high
Med:
1,037
100% of Average
$ / sqft:
$509
low | high
Med:
$940
34.589230202056% of Average
On site:
15
low | high
Med:
546
2.747252747253% of Average
Sourced by Back At You

Market Activity 94702

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Coldwell Banker Home Source

Coldwell Banker Home Source

01902736 (760) 684-8100info@cbhomesource.com
StateCA
CountyAlameda
CityBerkeley
Zip Code94702
Area699 Not Defined
Listing VS Median (in 94702)
Price:
$1,198,000
low | high
Med:
$975,000
68.614357262104% of Average
sqft:
2,352
low | high
Med:
1,037
100% of Average
$ / sqft:
$509
low | high
Med:
$940
34.589230202056% of Average
On site:
15
low | high
Med:
546
2.747252747253% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $898K - $1.497M
sqft: 1,500 - 2,500
Nearby Listings Property ImageNearby Listings Details
2433 San Pablo Avenue Property Photo 1
$1,198,000
2433 San Pablo Avenue
Berkeley, CA 94702
Listing Updated: October 8, 2026 at 3:28:05 PM PDT

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