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5,400 sqft

$1,198,000

2429 San Pablo AVE, Berkeley CA, 94702

Price per sqft$221.85
Built in1942
Property size5,400 sqft
Property typeMulti-family

Overview

Active

Listed Oct 5, 2026

Updated 15h ago

Four-Unit Value-Add Opportunity in Berkeleys West Berkeley Corridor! This uniform four-unit multifamily asset has four 1-bedroom, 1-bathroom apartments at 588 SF each (2,352 SF total) on a 0.12-acre lot, with four dedicated surface parking spaces. Three of the four units are leased (75% occupied), and the vacant unit lets a buyer set it at the $2,500 market rent on day one. In-place rents average ~$2,357 per unit, about 6% below market. In-place NOI of ~$69.6K (5.81% cap, 10.59 GRM) grows to a projected ~$76.3K stabilized NOI (6.37% pro forma cap, 9.98 GRM) as the building leases up and rents reach market. Electric and gas are individually metered, keeping owner-paid utilities low. Located along San Pablo Avenue, one of the East Bays most established residential and commercial corridors, near UC Berkeley, regional transit, and local dining and retail. Zoned C-W (West Berkeley Commercial). Priced at $1,198,000 ($299,500/unit, $509/SF).

$7,970/mo

Est. mortgage payment based on a $1,198,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
82063628ML

Interior Features

Heating
Yes
Basement
No

Exterior Features

Lot Size
0.12 Acres

Other Property Details

Association Fee Frequency
Monthly
Maintenance Expense
$3,000

Listed by Eymon Binesh with Marcus & Millichap
Listing Contact: 650-546-1030 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor LA Real shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2026 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/9/2026

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