2429 San Pablo Avenue, Berkeley, CA 94702

• 2,352 sqft

Property Description

Fully Occupied 4-Unit Value-Add Opportunity in Berkeley's West Berkeley Corridor! This uniform four-unit multifamily asset features all one-bedroom, one-bathroom apartments at 588 SF each, with four dedicated surface parking spaces a rare and valuable amenity in this walkable Berkeley submarket. 100% occupied with in-place rents currently running 8% below market, the property offers investors dependable in-place income (5.40% cap rate) plus clear upside as rents move toward market levels (6.17% pro forma cap). Individually metered electric and gas keep operating costs predictable, while the property's location along San Pablo Avenue one of the East Bay's most established residential and commercial corridors supports strong, consistent renter demand. Close to UC Berkeley, regional transportation, and vibrant retail and dining, this well-positioned asset combines a clean, easy-to-manage unit mix with genuine rent growth potential in a supply-constrained multifamily market. Priced at $1,198,000 ($299,500/unit, $509/SF).

Listing Status:

Active

Date Added:

October 5, 2026

Data Last Updated:

October 8, 2026 at 5:16PM

Listing Office:

Marcus & Millichap : (650) 391-1700

Listing Agent:

Eymon Binesh : 650-546-1030

MLS ID:

ML82063628

Interior

• A/C: None
• Heating:
• Disability Feature: None

Exterior

• Parking: Off StreetParking spaces: 4

Construction

• General: 2Concrete Perimeter

Location

• Originating MLS: CRMLS_MLSL
• School District: Other
• County: Alameda

Lot

• Zoning: C-W0561928022

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: CRMLS_MLSL