Request More Info
Schedule a Showing
Share
Print
|
Marcus & Millichap is pleased to present 1425 Martin Luther King Jr. Way, a fully occupied four-unit apartment property in Berkeley's North Shattuck neighborhood. Built in 1898, the two-story Victorian features four two-bedroom, one-bathroom apartments, each measuring approximately 856 square feet. The building totals 3,424 gross square feet on a 0.14-acre lot. All four apartments are leased, providing an established rental income stream at acquisition. In-place rents average $2,944 per month, compared with an underwritten market rent of $3,300 per unit. Monthly rents range from $2,360 to $3,300, with one apartment already leased at the market rent used in the underwriting. Scheduled gross rent is $141,300 annually, compared with $158,400 at market rents, an increase of $17,100 if the remaining units reach the underwritten market rent. Laundry contributes an additional $1,440 in annual income. The property benefits from a walkable location near the shops and restaurants along Shattuck Avenue. North Shattuck is known for its food and arts cooperatives and its role in the development of California cuisine. Neighborhood destinations include the Cheese Board Collective, Chez Panisse, and Epicurious Garden. AC Transit bus service gives residents another option for getting around Berkeley and the surrounding area. The property is offered at $1,900,000, or $475,000 per unit and $554.91 per gross square foot. Current net operating income of $97,260 supports a 5.12% capitalization rate at the asking price. Underwritten pro forma net operating income of $113,884 implies a 5.99% capitalization rate. The offering combines in-place income from four leased apartments with the potential for rental income growth over time.
Property Type(s):
Residential Income
| Last Updated | 11/10/2026 | Tract | BERKELEY |
|---|---|---|---|
| Year Built | 1898 | County | Alameda |
Additional Details
| AIR CONDITIONING | Yes |
|---|---|
| HEAT | Wall Furnace |
| LOT | 6077 sq ft |
| LOT DESCRIPTION | Back Yard |
| LOT DIMENSIONS | 6075 |
| SUBDIVISION | BERKELEY |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
Twitter
Facebook
Email