3032 Mabel St, Berkeley, California 94702, Berkeley, 94702 - 2 bed, 1 bath
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Berkeley, California 94702
This Prime Development Asset is a High-Potential Investment Opportunity listed at $799,000, matching its $799,000 Fair Market Value. While the Condition Rating of 6 reflects a collapsed structure, the value is anchored in the 6,142 SF flat lot and Zoning for 3+ units. With existing utilities and potential for San Francisco Bay views from future multi-story development, the site offers significant density potential via SB-9 and SB-684. This strategic acquisition is perfectly suited for Experienced Developers or Visionary Investors.
Property is land value only, full reconstruction required.
The MLS description explicitly states 'Currently on the property is a collapsed single-family home,' which is visually confirmed by the provided images showing a severely damaged and uninhabitable structure. The property's value is based solely on the expansive lot and its development potential, aligning perfectly with the 'tear-down' criteria.
Situated in a vibrant Berkeley neighborhood 'ripe for growth' and surrounded by other new developments, indicating strong market demand and potential for appreciation.
An 'expansive 6000+ SF flat lot' provides an ideal canvas for construction, potentially reducing site preparation costs and offering flexibility in design.
Current zoning allows for up to 3 units, with potential for greater density through upcoming zoning amendments and state laws (SB-9, SB-684), maximizing return on investment.
The property currently features a 'collapsed single-family home,' necessitating demolition and debris removal, which adds significant upfront costs and project complexity.
Buyers are explicitly advised to contact the Berkeley Planning / Building Dept and research state laws, indicating a substantial amount of pre-acquisition research and potential bureaucratic hurdles.
This is a pure development opportunity, limiting the potential buyer pool exclusively to experienced developers or investors, rather than general homebuyers.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 39% |
| Baths | 1.0 | 2.0 | 39% |
| Square foot | 1,047 | 1,295.5 | 36% |
| Lot Size | 6,142 | 3,731 | 97% |
| Price | $799.0K | $1.25M | 8% |
| Price per sq ft | $763 | $990 | 17% |
| Built year | 1904 | 1923 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 454 | 126 | 0% |
Jan 23, 2025
$799,000
Initial Listing