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Listed by Willem Bos • COMPASS
$ 2,850,000
Est. payment /mo
Active
1507 Prince St Berkeley, CA 94703
8,749 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,749 sqft
Price per Sqft $325
Subdivision Berkeley
MLS Listing ID 41122900
HOA Y/N No
Year Built 1930
Lot Size 8,317 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
1507 Prince Street, Berkeley, a mixed-use investment offered at $2,850,000, delivering a strong 7.46% Cap Rate and 8.6 GRM with durable in-place income and clear upside. The property consists of 13 total units across two buildings, including four ground-floor retail suites with prime frontage along Sacramento Street and nine residential units, plus a detached Victorian-style home. The residential mix includes seven one-bedroom one-bath units, one two-bedroom one-bath unit, and a four-bedroom two-bath single-family home, providing a diversified and resilient tenant base. Recent electrical and plumbing upgrades significantly reduce near-term capital exposure. Retail tenants are long-term, stable operators with interest in longer lease terms, while residential rents remain below market, creating meaningful upside through turnover and strategic management. Additional amenities include a gated parking lot with approximately five spaces, a valuable feature in this location. Ideally situated in South Berkeley, the property benefits from excellent visibility, walkable neighborhood amenities, and proximity to BART, major freeways, Downtown Berkeley, and University of California, Berkeley.
Location
State CA
County Alameda
Interior
Heating Other
Cooling None
Flooring Carpet, Wood, Other
Fireplace No
Appliance Dryer, Washer
Building
Lot Description Corner Lot
Others
Special Listing Condition Standard
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