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2925 Mabel Street, Berkeley, CA

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2925 Mabel Street

Berkeley, CA 94702-2417 - Southwest Berkeley MF Submarket

Property Type:Multi-Family Number of Units:7 Status:Existing Year Built:1910
Stories:2 Building Size:5,342 SF Land Area:.29 AC (12,632 SF)
For Sale Price:$1,950,000 Price/Unit:$278,571.43 Cap Rate:4.32 % GRM:11.58


Sale Notes:
Marcus & Millichap is presenting the opportunity to purchase 2925 Mabel Street, in Berkeley, CA. The subject property is a two-story apartment building comprised of one 400-square foot studio, six 635-square foot one-bedroom/one-bathroom units, and one 1,000- square foot three-bedroom/four-bathroom unit. The three-bedroom/four-bathroom unit has the potential to be converted into two separate two-bedroom/two- bathroom units, which would offer the prospective investor significant upside in rents in addition to potentially adjusting the units to market rent.

The three-bedroom/four-bathroom on the first floor of the main building could also be the home for an owner occupant who would enjoy the income generated from the other seven units, or eight units as the 1,000-square foot unit could be split into two separate units. Given the R-3 Zoning ordinance and the subject property lot size, prospective buyers may be able to convert the unit into three separate units with City of Berkeley approval.

Marcus & Millichap Inc
Daniel Maldonado
(415) 625-2199

Jon Holmquist
(415) 625-2117

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