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Listed by Davide Pio • BCRE
$ 1,600,000
Est. payment | /mo
4,633 SqFt
$ 1,600,000
Est. payment | /mo
4,633 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,633 sqft
Price per Sqft $345
Subdivision South Berkeley
MLS Listing ID 41142511
HOA Y/N No
Year Built 1889
Lot Size 0.295 Acres
Property Sub-Type 5 or More Units
Source CONTRA COSTA
Property Description
Cap Rate - 3.67% (Current) | GRM – 10.98 (Current) Cap Rate – 6.08% (Proforma) | GRM – 9.20 (Proforma) We proudly present 2925 Mabel St in Berkeley, CA for sale. The multifamily asset features seven (7) total units across two separate buildings: a classic Victorian-style residence and a separate fourplex in the rear. The Victorian residence was converted into three (3) units, including a 3 bed / 2 bath and two (2) studios, while the fourplex is comprised of four (4) 1 bed / 1 bath units. A new driveway, new electric subpanels in the Victorian, completed sewer lateral, and SB 721 balcony clearance are some of the recent capital improvements. The property allows for multiple value-add strategies. The Victorian residence - which can be delivered vacant - can be converted back into a single-family home, or there is a potential for a lot split allowing the sale of the two buildings independently. Separate meters for electric and gas, and each building has separate water meters (2 in total). Located in Southwest Berkeley, the property is under one (1) mile from Ashby BART or quick access to Highway 80, allowing easy connections to Oakland, San Francisco, and the surrounding East Bay. A short distance to both UC Berkeley and Emeryville activities, the surrounding area offers an abundance of restaurants and shopping.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Cooling Other
Flooring Other
Fireplace No
Building
Lot Description 2 Houses / 1 Lot, Level, Rectangular Lot
Water Water District
Others
Special Listing Condition Standard
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