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Listed by COMPASS
$ 3,500,000
Est. payment /mo
New
3228 Adeline St Berkeley, CA 94703
9,068 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 9,068 sqft
Price per Sqft $385
Subdivision Berkeley
MLS Listing ID 41149620
HOA Y/N No
Year Built 1904
Lot Size 4,514 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property 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.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling Other
Flooring Laminate
Fireplace No
Laundry In Unit
Building
Lot Description Rectangular Lot
Water Public