Home for Sale at 3228 Adeline Street, Berkeley, CA 94703

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3228 Adeline Street
Berkeley, CA 94703

Joey Wang with Keller Williams Realty - (925) 934-2900

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Property Details

List Price:	$3,700,000
Beds:	--
Baths:	--
Status:	Active
SqFt:	9068 Square Feet
Agency:	Keller Williams Realty
Agency Phone:	(925) 934-2900

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	0 acre(s)
Property Type:	Residential Multi Family-Other
Year Built:	1904
Notes:	Positioned just one block from Ashby BART in the heart of South Berkeley, 3228 Adeline St 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 cafes, 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, one of which is currently vacant and primed for lease-up or residential conversion. The units are offered furnished and designed to attract UC Berkeley students, traveling professionals, or coliving tenants. The building also features shared laundry, an attic-level common lounge, and a rear lot with ADU potential. Professionally managed by The Berkeley Group, this is a well-maintained, stable property with the benefit of flexibility-offering investors a strong existing income at a 6.5% CAP with multiple avenues to unlock future growth.
MlsNumber:	--
ListingId:	41134280

Listing Provided By:	Keller Williams Realty
Phone:	(925) 934-2900
Office Phone:	(925) 934-2900
Agent Name:	Joey Wang
Disclaimer:	Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

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Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.