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Listed by Davide Pio, DRE #01522969 • BCRE
$ 1,600,000
Est. payment /mo
New
2925 Mabel St Berkeley, CA 94702
4 Beds
4 Baths
4,633 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,633 sqft
Price per Sqft $345
MLS Listing ID CC41142511
Bedrooms 4
Year Built 1889
Lot Size 0.295 Acres
Property Sub-Type Five or More Units
Source Contra Costa Association of Realtors
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 abund
Location
State CA
County Alameda
Area Berkeley Map Area 8
Zoning R3
Interior
Heating Wall Furnace
Cooling Other
Flooring Other
Exterior
Exterior Feature Stucco, Siding - Wood , Wood Frame
Parking Features Parking Area
Garage Spaces 13.0
Roof Type Tar and Gravel,Composition
Building
Lot Description Grade - Level, Regular
Others
Tax ID 53-1623-23
Special Listing Condition New, Not Applicable
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