Residential Income - 3228 Adeline St, Berkeley, CA

$3,500,000

3228 Adeline St, Berkeley, CA

3228 Adeline St, Berkeley, CA 94703 - $3,500,000 · Multi-Family Home for Sale, photo 3

3228 Adeline St, Berkeley, CA 94703 - $3,500,000 · Multi-Family Home for Sale, photo 4

3228 Adeline St, Berkeley, CA 94703 - $3,500,000 · Multi-Family Home for Sale, photo 5

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Description

3228 Adeline Street is a 7-unit mixed-use building in South Berkeley, offered at $3,500,000 with a 7.35% current cap rate and an 8.64 GRM. Built in 1904, the three-story building has 9,068 square feet and includes five furnished residential units leased by the bed plus two retail suites fronting the Adeline corridor. Each residential unit has its own washer and dryer, and residents share an attic-level lounge. The property also offers four off-street parking spaces and professional management. The owner has invested $1,680,445 in upgrades since 2016. Preliminary plans have been drawn for a 563 square foot, 4-bedroom, 2-bath detached ADU at the rear of the property. The rent roll shows 9.71% upside to market. Ashby BART is 0.2 miles away, the UC Berkeley campus is 1.5 miles away, and the address has a 95 Walk Score.

Property details

Year built

1904

Property type

Residential Income

Lot size

4,514 sqft

Location

3228 Adeline St • Berkeley, CA 94703

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Listed by

Willem Bos · COMPASS

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