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2925 Mabel St 7 Unit Apartment Building $1,600,000 ($228,571/Unit) 3.67% Cap Rate Berkeley, CA 94702
Investment Highlights
- Lot Split Exit Strategy: An investor can split the lot into two to independently sell the residence vs fourplex building.
- Core Suburban Bay Area Location: Berkeley market has experienced 15.47% cumulative rent growth over 10 years, with another 7.80% projected in 3 years.
- Capital Improvements: Owner has made capital improvements including a new subpanels at the Victorian, sewer lateral, and SB 721 balcony clearance.
Executive Summary
Cap Rate - 3.67% (Current)
GRM – 10.98 (Current)
Cap Rate – 6.08% (Proforma)
GRM – 9.20 (Proforma)
Davide F. Pio and Brian Baniqued of BCRE 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.
GRM – 10.98 (Current)
Cap Rate – 6.08% (Proforma)
GRM – 9.20 (Proforma)
Davide F. Pio and Brian Baniqued of BCRE 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.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$145,738
|
$27.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,287
|
$1.36
|
| Effective Gross Income |
$138,451
|
$25.92
|
| Taxes |
$32,525
|
$6.09
|
| Operating Expenses |
$47,265
|
$8.85
|
| Total Expenses |
$79,790
|
$14.94
|
| Net Operating Income |
$58,661
|
$10.98
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $145,738 |
| Annual Per SF | $27.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,287 |
| Annual Per SF | $1.36 |
| Effective Gross Income | |
|---|---|
| Annual | $138,451 |
| Annual Per SF | $25.92 |
| Taxes | |
|---|---|
| Annual | $32,525 |
| Annual Per SF | $6.09 |
| Operating Expenses | |
|---|---|
| Annual | $47,265 |
| Annual Per SF | $8.85 |
| Total Expenses | |
|---|---|
| Annual | $79,790 |
| Annual Per SF | $14.94 |
| Net Operating Income | |
|---|---|
| Annual | $58,661 |
| Annual Per SF | $10.98 |
Property Facts
| Price | $1,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $228,571 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 3.67% | Building Size | 5,342 SF |
| Gross Rent Multiplier | 10.98 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1910 |
| Property Type | Multifamily | Parking Ratio | 2.43/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-3 - R-3 (Multiple-Family Residential) | ||
| Price | $1,600,000 |
| Price Per Unit | $228,571 |
| Sale Type | Investment |
| Cap Rate | 3.67% |
| Gross Rent Multiplier | 10.98 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 5,342 SF |
| No. Stories | 2 |
| Year Built | 1910 |
| Parking Ratio | 2.43/1,000 SF |
| Zoning | R-3 - R-3 (Multiple-Family Residential) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 4 | - | - |
| 3+2 | 1 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 053-1623-023-00 | Total Assessment | $2,029,151 (2025) |
| Land Assessment | $690,533 (2025) | Annual Taxes | $32,525 ($6.09/SF) |
| Improvements Assessment | $1,338,618 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
053-1623-023-00
Land Assessment
$690,533 (2025)
Improvements Assessment
$1,338,618 (2025)
Total Assessment
$2,029,151 (2025)
Annual Taxes
$32,525 ($6.09/SF)
Tax Year
2026
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2925 Mabel St
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