2923 Wheeler St, Berkeley, California 94705, Berkeley, 94705 - 0 bed, 0 bath
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2923 Wheeler St
Berkeley, California 94705
ACTIVE
CONDITION: FAIR
0Beds
0Baths
2,819Sq Ft
5,334Lot Size
Property Price
LIST PRICE$1,495,000
EST. MARKET VALUE
$1,468,872
SUMMARY
This 1910 fourplex represents a High-Potential Investment Opportunity, listed at a List Price of $1,495,000—positioned slightly above the $1,468,873 Fair Market Value. While the property requires cosmetic updates to reach modern standards, its Fair Condition Rating and separate PG&E meters ensure operational efficiency. The 5,334 sqft lot offers significant development potential for ADU construction, maximizing long-term yield. Located in a high-demand rental corridor near U.C. Berkeley, this asset is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a stable, income-generating property.
Estimated Market Value
$1,468,872
Based on Realkey algorithm analyzing recent comparable sales in Berkeley.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2923 Wheeler St Subject 0 bd · 0 ba · 2,819 sqft · $521 | $1,495,000* List Price | 0 | 0 | 2,819 | $521 | - |
A 3048 Halcyon Ct Sold 0 bd · 0 ba · 2,753 sqft · $547 · 0.2 mi | $1,505,000 | 0 | 0 | 2,753 | $547 | 0.2 mi |
B 2935 Florence Sold 0 bd · 0 ba · 3,176 sqft · $559 · 0.3 mi | $1,775,000 | 0 | 0 | 3,176 | $559 | 0.3 mi |
C 2607 Alcatraz Ave Sold 0 bd · 0 ba · 2,511 sqft · $677 · 0.7 mi | $1,700,000 | 0 | 0 | 2,511 | $677 | 0.7 mi |
D 3037 College Ave Sold 0 bd · 0 ba · 3,081 sqft · $471 · 0.7 mi | $1,450,000 | 0 | 0 | 3,081 | $471 | 0.7 mi |
E 2817 2817 Palm Ct Active 0 bd · 0 ba · 2,380 sqft · $525 · 0.8 mi | $1,250,000 List Price | 0 | 0 | 2,380 | $525 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1910, this fourplex features renovations that appear to be over 20 years old. While the units are clean and functional, the kitchens have dated oak cabinetry and older appliances, and the overall aesthetic reflects a 15-30 year old refresh rather than a modern update. It is well-maintained for a rental but requires cosmetic updates to reach current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Investment Location
Situated in Central Berkeley near UC Berkeley, Elmwood, and Berkeley Bowl, this property commands high rental demand and consistent occupancy from students and professionals.
- Development Potential
The ample off-street parking area at the rear of the 5,334 sqft lot presents a significant opportunity for future value-add through ADU construction or further site development.
- Favorable Utility Setup
The property features separate PG&E meters for each of the four units, significantly reducing owner operating expenses and simplifying utility management.
CONSRISKS & DEFICIENCIES
- Vintage Infrastructure
Built in 1910, the property likely requires ongoing maintenance and capital expenditures to modernize aging systems and maintain structural integrity.
- Limited Unit Diversity
The exclusive configuration of 1-bedroom, 1-bathroom units may limit the tenant pool and lead to higher turnover rates compared to larger multi-bedroom units.
About 2923 Wheeler St
Discover this early 1900s fourplex in a prime Berkeley location, moments from U.C. Berkeley, Elmwood cafés, shops, Berkeley Bowl, Whole Foods, and major transit options. Four 1BD/1BA units with classic details. Separate PG&E, laundry in unit D, and off-street parking with potential for future development. Easy access to campus, parks, and the best of Berkeley living. From exploring the renowned Berkeley Farmer's Market to strolling through nearby parks and green spaces, residents delight in the dynamic lifestyle just moments from their doorstep. This fourplex offers a unique investment opportunity in one of the East Bay's most vibrant communities. Ample parking area in back of parcel.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1910
- Lot Size
- 5,334 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,819 | 2,492.071 |
| Lot Size | 5,334 | 4,591.214 |
| Price | $1.50M | $1.08M |
| Price per sq ft | $530 | $463 |
| Built year | 1910 | 1931 |
| HOA | $0 | $0 |
| Days on market | 4 | 147 |
Pricing History
Listed for Sale
Oct 20, 2026
$1,495,000
Initial Listing
Sold
May 18, 2010
$550,000
Public Record
Sold
Aug 16, 2005
$747,500
Public Record