2925 Mabel St, Berkeley, CA 94702
2925 Mabel St, Berkeley, CA 94702
2925 Mabel St, Berkeley, CA 94702
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John R Thompson

John R Thompson

+1(805) 796-5221
Listed by Davide Pio • BCRE
$1,600,000
Est. payment /mo
0.29 Acres Lot
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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

MLS Listing ID 01-41142511

Year Built 1889

Lot Size 0.295 Acres

Source California Regional Multiple Listing Service (CRMLS)

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

Zoning R3

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Building

Lot Description Level with Street

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John R Thompson

John R Thompson

+1(805) 796-5221

Broker/Owner | License ID: 01200900

Broker/Owner License ID: 01200900

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2925 Mabel St