3042 Martin Luther King Jr Way

Berkeley, CA 94703

$2,595,000
Price
9
Beds
6
Baths
3,755 Sq. Ft.
$691 / Sq. Ft.
3,755
Sq. Ft.
$691
per Sq. Ft.

Description

Whether you're an owner-occupant or an investor, this fully remodeled fourplex offers a compelling opportunity in a prime location. 3042 MLK is a commuter's paradise with modern amenities and existing cashflow ($11,010/mo.) delivered from 3 out of 4 occupied units. The building is located across the street from Ashby Bart with easy access to Oakland/San Francisco, walking distance to Berkely Bowl and a 10-minute bike ride to UC Berkeley. It has a unit mix consisting of a 3BD/2BA (vacant), 4BD/2BA,...Whether you're an owner-occupant or an investor, this fully remodeled fourplex offers a compelling opportunity in a prime location. 3042 MLK is a commuter's paradise with modern amenities and existing cashflow ($11,010/mo.) delivered from 3 out of 4 occupied units. The building is located across the street from Ashby Bart with easy access to Oakland/San Francisco, walking distance to Berkely Bowl and a 10-minute bike ride to UC Berkeley. It has a unit mix consisting of a 3BD/2BA (vacant), 4BD/2BA, 2+BD/1BA and studio totaling 3796 sq. ft. This was a complete remodel thoughtfully designed by local Architects Sidell Pakravan with scope of work including new foundation, Andersen windows, plumbing, electrical, central heat, active ventilation, stainless appliances, in-unit washer and dryers, and new sewer lateral. With plans for a mixed-use development and new housing across the street, this property is in the path of development with lots of potential for future growth and appreciation. Seller may carry small second up to 10% LTV at 6% interest only for 5 years

Listing Agent

  1. Francisco Valdez

    Francisco Valdez

    Listing Agent

    Compass

    DRE #01858228

Property Details for 3042 Martin Luther King Jr Way

City
BERKELEY
Building Type
FOURPLEX
Property Sub Type
FOURPLEX
Garage/Parking
Off-Street Parking
Park Spaces Total
2

Location

Listing Courtesy of Compass, Francisco Valdez, DRE #01858228; Christopher L. Givens, Christopher Givens, DRE #01432862
Add your commute
LISTING UPDATED: 04/26/2024 10:12 AM

Property Details for 3042 Martin Luther King Jr Way

StatusPrice Change
MLS #41053861
Days on Compass28
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Fourplex
Year Built1909
Lot Size0.09 AC / 4,107 SF
CountyAlameda County

Location

Listing Courtesy of Compass, Francisco Valdez, DRE #01858228; Christopher L. Givens, Christopher Givens, DRE #01432862
Add your commute

Building Information for 3042 Martin Luther King Jr Way

Stories-Residences4Year Built1909Building Size-Lot Size0.09 AC / 4,107 SF

Payment Calculator

$16,522 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,162

Property Taxes

$2,360

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3042 Martin Luther King Jr Way

Features
Feature Details
  • Flooring: Laminate, Tile
  • Laundry: Inside Unit, Washer/Dryer Stacked Incl
Utility Details
  • Cooling: Ceiling Fan(s)
  • Heating: Forced Air 1 Zone
  • Water/Sewer: Sewer System - Public, Water - Private
Lot / Property Details
Property Details
  • Additional Equipment: Dryer, Washer, Tankless Water Heater, Carbon Mon Detector, Security Fence, Security Gate, Smoke Detector, Video System, All Public Utilities, Individual Electric Meter, Individual Gas Meter
  • City Transfer Tax: Yes
  • Exterior: Wood Shingles
  • Lot Description: Corner
  • Lot Sq Ft Apx: 4107
  • Lot Size Square Feet: 4107.0
  • Roof: Composition Shingles
  • Sq Ft Apx: 3755
  • Yard Description: Fenced, Front Yard, Side Yard, Back Yard Fence, Low Maintenance
  • Year Built: 1909
  • Acres: 0.09
Location Details
  • Elementary School District: Berkeley (510) 644-6150
  • Directions to Property: Corner of Martin Luther King and Prince st
  • FIPS Code: 06001
  • Parcel Number: 53-1601-16
  • Printed Neighborhood Rpt: No
  • Board ID: BAY EAST
Multi Family Information
General Details
  • All Units Have: Dishwasher, Disposal, Updated Kitchen
  • Some Units Have: Dishwasher, Disposal, Fireplaces, Updated Baths, Updated Kitchen
  • Units Total: 4
  • Basement: None
  • Parking Description: Off Street Parking
  • Separate Meters: Electric, Gas
  • Existing Lease Terms: Year Lease
  • Tenant Pays: Electric, Gas, Parking, Trash, Water
  • Financial Data Source: Owner
Income / Expense Details
  • Annual Expense Year: 55386
  • Annual Gross Sched Income: $184,620
  • Net Operating Income: $129,234
  • Operating Expenses: Electric, Garbage Collection, Insurance, Maintenance/Repair, Management, Property Tax/Assessments, Trash Removal, Water
Unit 1 Details
  • Unit #/Address - 1: 3044
  • Occupied By 1: Tenant
  • Dining Room 1: Yes
  • Air Cond 1: No
  • Fireplace 1: Yes
  • Refrigerator 1: Yes
  • Range/Oven 1: Yes
  • Bedrooms 1: 4
  • Bathrooms 1: 2
  • Apx Sq Ft 1: 1410
  • Rent 1: 5045
Unit 2 Details
  • Unit #/Address - 2: 3042
  • Occupied By 2: Tenant
  • Dining Room 2: No
  • Air Cond 2: Yes
  • Fireplace 2: No
  • Refrigerator 2: Yes
  • Range/Oven 2: Yes
  • Bedrooms 2: 0
  • Bathrooms 2: 1
  • Apx Sq Ft 2: 304
  • Rent 2: 1970
Unit 3 Details
  • Unit #/Address - 3: 1841 Princ
  • Occupied By 3: Tenant
  • Dining Room 3: Yes
  • Air Cond 3: No
  • Fireplace 3: No
  • Refrigerator 3: Yes
  • Range/Oven 3: Yes
  • Bedrooms 3: 2
  • Bathrooms 3: 1
  • Apx Sq Ft 3: 768
  • Rent 3: 3995
Unit 4 Details
  • Unit #/Address - 4: 1845 Princ
  • Occupied By 4: Vacant
  • Dining Room 4: No
  • Air Cond 4: No
  • Fireplace 4: Yes
  • Refrigerator 4: Yes
  • Range/Oven 4: Yes
  • Bedrooms 4: 3
  • Bathrooms 4: 2
  • Apx Sq Ft 4: 889
  • Rent 4: 4375
Multi Family 5+ Information
Building Details
  • ADDTL MISC FEATURES: Extra Storage, Shower Stall(s), Tub w/Shower Over
Additional Information
Additional Information
  • Fireplace: No
  • Elementary School District: Berkeley (510) 644-6150
  • High School District: Berkeley (510) 644-6150

Property History for 3042 Martin Luther King Jr Way

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3042 Martin Luther King Jr Way

Taxable ValueLand$527,850Additions$1,231,650Total$1,759,500
Tax Record2023$28,319 ($2,360 / month)
Home Facts
Total Finished SqFt3,755 SqFtAbove Grade Finished SqFt3,755 SqFtStories2Lot Size4,107 SqFtStyleQuadraplexYear Built1909CountyALAMEDAAPN53-1601-16

Schools near 3042 Martin Luther King Jr Way

This home is within Berkeley Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - 6 to 8
Rating
School
Distance
Emerson Elementary School
PublicK to 5

John Muir Elementary School
PublicK to 5

Malcolm X Elementary School
PublicK to 5

Willard Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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3042 Martin Luther King Jr Way is a multi-family home for sale in Berkeley, CA 94703. This property was listed for sale on April 2, 2024 by Compass, it's currently listed at $2,595,000. It has been on the market for a total of 28 days and was last sold on April 7, 2022. This listing's school district is Berkeley Unified School District. Nearby schools include Emerson Elementary School, John Muir Elementary School and Malcolm X Elementary School. 3042 Martin Luther King Jr Way is a 9-bed, 6-bath, 3,755 sqft multi-family home built in 1909.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Francisco Valdez, DRE #01858228; Christopher L. Givens, Christopher Givens, DRE #01432862

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.