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3138 California St 8 Unit Apartment Building $2,000,000 ($250,000/Unit) 6.70% Cap Rate Berkeley, CA 94703
Investment Highlights
- 8-unit building features (7) 2BD/1BA units & (1) 3BD/2BA across 6,208 sq ft, on a 6,800 sq ft lot with a spacious rear parking area & on-site laundry.
- With its proximity to Shattuck Ave, Adeline St, cafés, markets, and parks, tenants enjoy convenience without sacrificing neighborhood feel.
- Most units are renting near market, making this a clean, income-producing asset from day one at near 7% CAP.
Executive Summary
Just four blocks from Ashby BART and tucked into a quiet, tree-lined street, 3138 California St blends location, stability, and upside in one of South Berkeley’s most accessible pockets. This 8-unit building features (7) 2BD/1BA units and (1) 3BD/2BA across 6,208 sq ft, set on a 6,800 sq ft lot with a spacious rear parking area and on-site laundry. The building is set back from the street, offering added privacy and a quieter living environment for its tenants. Most units are renting near market, making this a clean, income-producing asset from day one. With its proximity to Shattuck Ave, Adeline St, cafés, markets, and parks, tenants enjoy convenience without sacrificing neighborhood feel. Offered at just $250K per unit and delivering a near 7% CAP, this is a rare opportunity to own a well-located, well-maintained multifamily building in a high-demand rental corridor.
TRANSPARENT PRICE. Unit 1 is vacant and can be shown via Calendly.
Contact Joey at joeywang@kwcommercial.com with questions.
For the offering memorandum and inspection reports, go to https://forms.gle/KkKudmgnZkEXC5kY7
Offers are due on Tuesday, February 3rd at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
TRANSPARENT PRICE. Unit 1 is vacant and can be shown via Calendly.
Contact Joey at joeywang@kwcommercial.com with questions.
For the offering memorandum and inspection reports, go to https://forms.gle/KkKudmgnZkEXC5kY7
Offers are due on Tuesday, February 3rd at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $2,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.60 AC |
| Cap Rate | 6.70% | Building Size | 6,208 SF |
| Gross Rent Multiplier | 8.4 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.29/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3, Berkeley | ||
| Price | $2,000,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| Gross Rent Multiplier | 8.4 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 6,208 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.29/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Berkeley |
Amenities
Unit Amenities
- Heating
- Kitchen
Site Amenities
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | $2,245 | 720 - 723 |
| 3+2 | 1 | $3,350 | 961 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 052-1544-003-00 | Improvements Assessment | $293,144 |
| Land Assessment | $122,274 | Total Assessment | $415,418 |
Property Taxes
Parcel Number
052-1544-003-00
Land Assessment
$122,274
Improvements Assessment
$293,144
Total Assessment
$415,418
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3138 California St
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