2923 Wheeler Street, Berkeley, California 94705, Berkeley, 94705 - bed, bath
2923 Wheeler Street
Berkeley, California 94705
Property Price
SUMMARY
Analysis of 2923 Wheeler Street, Berkeley, California 94705 is currently available with a list price of $1,495,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Berkeley Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
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.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Investment Location
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.
- Immediate Value-Add Potential
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.
- Future Development Opportunity
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.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1910, the property likely requires ongoing maintenance and capital improvements to modernize systems and meet contemporary seismic or energy standards.
- Limited Unit Diversity
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.
About 2923 Wheeler Street
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.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1910
- Lot Size
- 5,334 Sq. Ft.
Interior
- Total Bedrooms
- -
- 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 2,819 | - | 75% |
| Lot Size | 5,334 | 5,617 | 50% |
| Price | $1.50M | $1.64M | 50% |
| Price per sq ft | $530 | $0 | 75% |
| Built year | 1910 | 1913 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 16 | 175 | 25% |
Pricing History
Listed for Sale
Feb 19, 2026
$1,495,000
Initial Listing
Sold
May 18, 2010
$550,000
Public Record
Sold
Aug 16, 2005
$747,500
Public Record