Key information
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Units 7
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Year Built 1904
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Average Unit Size 1,295
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Building Size 9,068
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Land Area (Sq Ft) 4,514
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Parking 4
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Separate Meters None
Property Summary
Positioned just one block from Ashby BART in the heart of South Berkeley, 3228 Adeline Street is a mixed-use 7-unit asset offering strong day-one income and long-term upside. Located on a vibrant commercial corridor with a 95 Walk Score, the property enjoys easy access to
cafés, local markets, and transit connecting directly to San Francisco and beyond. With a location that appeals to both students and working professionals, it sits in a high-demand pocket primed for continued rental performance.
The building includes five renovated residential units—ranging from a 2BD/1BA to 4 and 5-bedroom layouts—and two commercial spaces. The units are offered furnished and designed to attract UC Berkeley students, traveling professionals, or co-living tenants. Each unit includes a washer and dryer, and the building features an attic-level common lounge as well as a rear lot and ground floor that has ADU potential. Professionally managed by The Berkeley Group, this is a well-maintained, stable property with the benefit of flexibility—offering investors strong existing income with multiple avenues to unlock future growth.
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Pricing Metrics
CAP Rate:
5.4%
GRM:
11.0
Price per Unit:
$607,143
Price per Square Foot:
$469
Financial Summary
Gross Rents (Annual):
$355,440
Other Income:
$32,489
Expense Pass Through:
$0
Effective Gross Income:
$229,755
Vacancy Reserve:
$19,396
Operating Expenses:
$138,778
Net Operating Income:
$229,755
Market Rents (Annual):
$407,280
Rent Gap:
15%
Disclaimer*
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information.
Operating Expenses
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Property Tax Rate:
N/A
Property Tax (Base):
N/A
Property Tax (Additional Assessments):
N/A
Business License Fee:
N/A
Rent Board Fee:
N/A
Other Program Fee:
N/A
Property Management:
N/A
Resident Manager:
N/A
- Maintenance, Repairs, and Reserves : N/A
- Turnover Costs : N/A
- Landscaping : N/A
- Pest Control : N/A
- Janitorial : N/A
- Insurance : N/A
- Gas & Electricity : N/A
- Garbage : N/A
- Water & Sewer : N/A
- Other Utilities : N/A
Disclaimer*
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information.
Rent Roll
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