2923 Wheeler Street, Berkeley, California 94705, Berkeley, 94705 - 0 bed, 0 bath
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Berkeley, California 94705
This Early 1900s Quadruplex is an income-generating asset with a List Price of $1,495,000—positioned below the $1,499,258 Fair Market Value by 0.3%. This valuation provides $4,258 in Instant Equity. Maintaining a Condition Rating of 4, the property offers immediate value-add potential through two vacant units and a large rear parcel suited for ADU development. Located in South Berkeley near UC Berkeley, the location ensures consistent rental demand and long-term ROI. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2923 Wheeler Street Subject | $1,495,000* List Price | 0 | 0 | 2,819 | $532 | - |
A 2935 2935 Florence Active | $1,875,000 List Price | 0 | 0 | 3,176 | $590 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1910 fourplex is well-maintained and retains its classic architectural charm, but it is fundamentally an aged property. While the units are functional and move-in ready, the kitchens and bathrooms feature dated cabinetry, older appliances, and vintage fixtures consistent with renovations performed 20+ years ago. The property shows typical wear for its age and lacks the comprehensive modern system updates required for a higher rating.
Situated in a highly desirable South Berkeley pocket near UC Berkeley, Elmwood, and Berkeley Bowl, ensuring a consistent pipeline of high-quality tenants and long-term appreciation.
With two units delivered vacant, the property offers an immediate opportunity to achieve market-rate rents or provide a flexible owner-occupancy solution in a rent-controlled market.
The ample off-street parking area at the rear of the parcel presents significant potential for future expansion or the addition of Accessory Dwelling Units (ADUs) to maximize ROI.
Built in 1910, the property likely requires ongoing maintenance and capital improvements to modernize systems and meet contemporary seismic or energy standards.
The uniform 1BD/1BA unit mix may limit the tenant pool to individuals or couples, potentially leading to higher turnover compared to buildings with larger, multi-bedroom units.
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. TWO units currently vacant. Four 1BD/1BA units with classic details. Separate PG&E, laundry in unit D, space for laundry in unit C, 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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,819 | 2,057 | 80% |
| Lot Size | 5,334 | 5,334 | 50% |
| Price | $1.50M | $1.50M | 50% |
| Price per sq ft | $530 | $486 | 60% |
| Built year | 1910 | 1910 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 62 | 210 | 20% |
Feb 19, 2026
$1,495,000
Initial Listing
May 18, 2010
$550,000
Public Record
Aug 16, 2005
$747,500
Public Record