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3228 Adeline Street 3228-3230 Adeline St 7 Unit Apartment Building $3,700,000 ($528,571/Unit) 6.50% Cap Rate Berkeley, CA 94703
Investment Highlights
- 7 Total Units: (5) Residential + (2) Commercial. • Historically strong performance with consistent occupancy and professional management.
- One block from Ashby BART with direct transit access across the Bay Area.
- Rear parking lot and ground floor offers possible ADU or additional unit development.
Executive Summary
Positioned just one block from Ashby BART in the heart of South Berkeley, 3228 Adeline St
is a mixed-use 7-unit asset offering strong day-one income and long-term upside. Located
on a vibrant commercial corridor with a 95 Walk Score, the property enjoys easy access to
cafés, local markets, and transit connecting directly to San Francisco and beyond. With a
location that appeals to both students and working professionals, it sits in a high-demand
pocket primed for continued rental performance.
The building includes five renovated residential units—ranging from a 2BD/1BA to 4 and
5-bedroom layouts—and two commercial spaces. The units are offered furnished and
designed to attract UC Berkeley students, traveling professionals, or co-living tenants. Each
unit includes a washer and dryer, and the building features an attic level common lounge
as well as a rear lot and ground floor that has ADU potential. Professionally managed by
The Berkeley Group, this is a well-maintained, stable property with the benefit of flexibility—
offering investors strong existing income with multiple avenues to unlock future growth.
TRANSPARENT PRICE. Reach out to LA for private tours.
Contact Joey at joey.wang@loremultifamily.com with questions.
For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/
Offers are due on Tuesday, May 26th, at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
is a mixed-use 7-unit asset offering strong day-one income and long-term upside. Located
on a vibrant commercial corridor with a 95 Walk Score, the property enjoys easy access to
cafés, local markets, and transit connecting directly to San Francisco and beyond. With a
location that appeals to both students and working professionals, it sits in a high-demand
pocket primed for continued rental performance.
The building includes five renovated residential units—ranging from a 2BD/1BA to 4 and
5-bedroom layouts—and two commercial spaces. The units are offered furnished and
designed to attract UC Berkeley students, traveling professionals, or co-living tenants. Each
unit includes a washer and dryer, and the building features an attic level common lounge
as well as a rear lot and ground floor that has ADU potential. Professionally managed by
The Berkeley Group, this is a well-maintained, stable property with the benefit of flexibility—
offering investors strong existing income with multiple avenues to unlock future growth.
TRANSPARENT PRICE. Reach out to LA for private tours.
Contact Joey at joey.wang@loremultifamily.com with questions.
For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/
Offers are due on Tuesday, May 26th, at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $3,700,000 | Building Class | C |
| Price Per Unit | $528,571 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 7,859 SF |
| Cap Rate | 6.50% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.5 | No. Stories | 3 |
| No. Units | 7 | Year Built | 1904 |
| Property Type | Multifamily | Parking Ratio | 0.51/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | CSA, Berkeley | ||
| Price | $3,700,000 |
| Price Per Unit | $528,571 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 9.5 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 7,859 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1904 |
| Parking Ratio | 0.51/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CSA, Berkeley |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,500 | 847 |
| 4+1 | 1 | $4,880 | 1,254 |
| 4+1.5 | 1 | $4,895 | 1,249 |
| 5+1 | 1 | $5,430 | 1,543 |
| 5+3 | 1 | $9,175 | 1,857 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 052-1530-005-00 | Improvements Assessment | $1,140,830 (2025) |
| Land Assessment | $756,685 (2025) | Total Assessment | $1,897,515 (2025) |
Property Taxes
Parcel Number
052-1530-005-00
Land Assessment
$756,685 (2025)
Improvements Assessment
$1,140,830 (2025)
Total Assessment
$1,897,515 (2025)
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3228 Adeline Street | 3228-3230 Adeline St
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