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
$1,459,507
SUMMARY
This fourplex presents a High-Potential Investment Opportunity with a List Price of $1,495,000, positioned slightly above the $1,459,507 Fair Market Value. While the property requires modernization, its Condition Rating of 4 and separate PG&E meters provide a stable foundation for a Buy-and-Hold Investor. The 5,334 sqft lot offers significant value-add potential through future ADU development. Located in a high-demand rental market near U.C. Berkeley, this asset is an ideal acquisition for Value-Add Investors seeking long-term appreciation in a vibrant, transit-oriented community.
Estimated Market Value
$1,459,507
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 | $1,495,000* List Price | 0 | 0 | 2,819 | $518 | - |
A 3037 College Ave Sold | $1,450,000 | 0 | 0 | 3,081 | $471 | 0.7 mi |
B 2935 Florence Active | $1,749,000 List Price | 0 | 0 | 3,176 | $551 | 0.3 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 interior renovations (kitchens and flooring) that appear to be approximately 15-25 years old. While the units are functional and move-in ready with classic details and separate utilities, the oak cabinetry, older appliances, and dated finishes indicate a need for modern updates and potential system refreshes.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Investment Location
Situated in Central Berkeley near UC Berkeley, Elmwood, and major transit hubs, this property is positioned in a high-demand rental market with proximity to premium amenities like Berkeley Bowl and Whole Foods.
- Development Potential
The ample off-street parking area at the rear of the 5,334 sqft lot offers significant value-add potential for future expansion or accessory dwelling unit (ADU) development.
- Favorable Utility Configuration
The units feature separate PG&E meters, which reduces landlord overhead and simplifies property management by shifting utility costs directly to tenants.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1910, the property likely requires ongoing maintenance and potential capital expenditures for seismic retrofitting or modernizing century-old systems.
- Inconsistent Amenities
With laundry facilities only available in one of the four units, the property may face competitive pressure from more modernly equipped rentals in the area.
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 | 2,496 |
| Lot Size | 5,334 | 4,749.882 |
| Price | $1.50M | $1.23M |
| Price per sq ft | $530 | $526 |
| Built year | 1910 | 1922 |
| HOA | $0 | $0 |
| Days on market | 49 | 50 |
Pricing History
Listed for Sale
Jul 22, 2026
$1,495,000
Initial Listing
Sold
May 18, 2010
$550,000
Public Record
Sold
Aug 16, 2005
$747,500
Public Record