3032 Mabel St, Berkeley, California 94702, Berkeley, 94702 - 2 bed, 1 bath

3032 Mabel St, Berkeley, California 94702 home-pic-0
ACTIVE UNDER CONTRACT$799,000
3032 Mabel St, Berkeley, California 94702
2Beds
1Bath
1,047Sqft
6,142Lot
Year Built
1904
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
$763
HOA
-
Days on market
-
Sold On
-
MLS number
41083445
Home ConditionTear down
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $799.0K(4th), sqft - 1047(32th), beds - 2(46th), baths - 1(42th).

Attention Developers! Unleash your vision on this expansive 6000+ SF flat lot, situated in a vibrant Berkeley neighborhood that is ripe for growth. Surrounded by other new developments, this prime location offers excellent potential. Currently on the property is a collapsed single-family home, with existing utilities and a water meter. Buyers are encouraged to contact the Berkeley Planning / Building Dept regarding current status and upcoming zoning law amendments to open up exciting possibilities allowing for greater creativity and density in addressing the urgent housing needs of this high-demand area. Current standards allow for up to 3 units, but also, check state laws SB-9 and SB-684 for other possibilities. This rare opportunity is not just an investment; it’s a chance to make a lasting impact on the community by contributing to its housing solutions. Don't let this incredible opportunity slip away.

Price History

Date
Event
Price
01/23/25
Listing
$799,000
Condition Rating
Tear down

The MLS description explicitly states the property is a 'collapsed single-family home' built in 1904, and the images confirm the structure is severely damaged and unlivable. The listing targets developers, emphasizing the value of the 6000+ SF flat lot and potential for redevelopment, aligning perfectly with the criteria for a tear-down property where the structure is beyond repair and value is based on the land.
Pros & Cons

Pros

High Development Potential: The property is explicitly marketed to developers, highlighting significant potential for increased density and creativity due to upcoming zoning law amendments (SB-9, SB-684) in a high-demand area.
Expansive Flat Lot: An expansive 6000+ SF flat lot provides ample space for new construction and multi-unit development, simplifying construction logistics and maximizing buildable area.
Prime Berkeley Location: Situated in a vibrant Berkeley neighborhood surrounded by other new developments, indicating a desirable and growing area with strong demand for housing.
Existing Utilities: The presence of existing utilities and a water meter on the property significantly reduces initial development costs and streamlines the construction process.
Favorable Legislative Environment: State laws like SB-9 and SB-684 are mentioned as opening possibilities for greater density, providing a strong legislative tailwind for development projects.

Cons

Collapsed Structure: The existing 'collapsed single-family home' necessitates demolition and debris removal, adding immediate costs and time to the development timeline.
Significant Investment Required: This is a raw development opportunity requiring substantial capital investment, planning, and execution, limiting its appeal to only experienced developers.
Zoning Due Diligence Required: Buyers are encouraged to verify current status and upcoming zoning amendments with the city, indicating that the full extent of development possibilities may require detailed investigation and carry some inherent uncertainty.

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