
Berkeley, California 94705
This four-unit Residential Income Asset represents a Strong Value Opportunity, listed at a List Price of $1,600,000—positioned well below the $1,691,708 Fair Market Value by 5%. This valuation gap provides $91,708 in Instant Equity. With a Condition Rating of 4, the property offers significant upside through modernization and the potential to develop two detached ADUs on the 6,700sf lot. Ideally located near UC Berkeley, this is a prime acquisition for Buy-and-Hold Investors or Value-Add Developers seeking long-term rental demand.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2224 Derby Street Subject | $1,600,000* List Price | 0 | 0 | 3,402 | $498 | - |
A 3037 College Ave Sold | $1,450,000 | 0 | 0 | 3,081 | $471 | 0.7 mi |
B 2935 Florence Pending | $1,749,000 List Price | 0 | 0 | 3,176 | $551 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The 1926 building is well-maintained but dated. Kitchens feature older white appliances and cabinetry, and bathrooms show 15-30 year old renovations (pedestal sinks, older tile). Heating is provided by dated wall units rather than modern central HVAC, and the electrical/plumbing systems likely exceed 20 years since major updates.
Situated just eight blocks from UC Berkeley, the property is perfectly positioned to capture consistent rental demand from a population of 46,000 students and faculty in a top-ranked university market.
The generous 6,700-square-foot lot provides a rare opportunity to increase density and cash flow by potentially developing two additional detached ADUs.
With top-tier walk and bike scores and proximity to iconic amenities like Berkeley Bowl and Telegraph Avenue, the property offers a highly desirable lifestyle that commands premium tenant interest.
Built in 1926, the property likely requires ongoing maintenance and potential capital improvements to modernize century-old systems such as plumbing, electrical, or seismic retrofitting.
Operating a multi-unit residential income property in Berkeley involves navigating strict local rent control ordinances and tenant protections, which can limit immediate rental upside and management flexibility.
This might just be the Berkeley opportunity you've been searching for! Located just eight short blocks to the world renowned, UC Berkeley Campus with a total enrollment of around 46,000 students (undergrad/graduate) and ranked #1 in Top Public Schools according to U.S. News and World Report. This four unit, two-story building consists of two, 1-Bed units and two, 2-Bed Units for a total of 3,402sf of living space. Units have good natural light, and theres a charming variety of built-in cabinets and bookshelves. Building sits forward on a 6,700sf lot that may support the development of 2 additional detached ADUs. Freshly painted exterior, classy front terrazzo stairs and backyard, where residents have off street parking, stored bikes and a gardening area. Excellent Public K-12 schools within blocks. Inspiring and dynamic location highlights include, Telegraph Avenue's eclectic shops, bakeries, cafes, restaurants and high-quality culinary shopping choices (Berkeley Bowl Marketplace and Whole Foods grocery stores). Bike and Walk scores are top-tier, Public Transportation options are excellent, nice neighborhood parks. This is a truly a perfect location for students, professionals, and anyone seeking the vibrant Berkeley lifestyle with easy access to transit, nature, and the city.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,402 | 2,496 |
| Lot Size | 6,700 | 4,749.882 |
| Price | $1.60M | $1.23M |
| Price per sq ft | $470 | $526 |
| Built year | 1926 | 1922 |
| HOA | $0 | $0 |
| Days on market | 34 | 50 |
Aug 6, 2026
$1,600,000
Initial Listing
Dec 10, 2012
$318,500
Public Record
Dec 18, 2000
$975,000
Public Record