3032 Mabel St, Berkeley, California 94702, Berkeley, - bed, bath

home-pic
ACTIVE$799,000
3032 Mabel St, Berkeley, California 94702
2Beds
1Bath
1,047Sqft
6,142Lot
Year Built
1904
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41083445
Home ConditionTear down
Features
Good View:
View-

About this home

Attention Developers! Unleash your vision on this expansive 6000+ SF flat lot, situated in a vibrant Berkeley neighborhood that is ripe for growth. Surrounded by other new developments, this prime location offers excellent potential. Currently on the property is a collapsed single-family home, with existing utilities and a water meter. Buyers are encouraged to contact the Berkeley Planning / Building Dept regarding current status and upcoming zoning law amendments to open up exciting possibilities allowing for greater creativity and density in addressing the urgent housing needs of this high-demand area. Current standards allow for up to 3 units, but also, check state laws SB-9 and SB-684 for other possibilities. This rare opportunity is not just an investment; it’s a chance to make a lasting impact on the community by contributing to its housing solutions. Don't let this incredible opportunity slip away.

Price History

Date
Event
Price
01/23/25
Listing
$799,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (54 Listings)
Beds23
44%
Baths12
40%
Square foot1,0471,318
27%
Lot Size6,1424,000
98%
Price$799K$1.35M
5%
Price per square foot$763$982
20%
Built year19041925
4%
HOA
Days on market286161
96%
Condition Rating
Tear down

The MLS description explicitly states 'Currently on the property is a collapsed single-family home,' and the images confirm the structure is unlivable and beyond repair. Built in 1904, the property is over 50 years old with no evidence of major renovations, aligning perfectly with the 'tear-down' criteria where the value is solely in the land.
Pros & Cons

Pros

Development-Ready Lot: Expansive 6,142 SF flat lot, providing an ideal canvas for new construction in a desirable urban setting.
Strategic Location: Situated in a vibrant, high-demand Berkeley neighborhood, surrounded by ongoing new developments, indicating strong market growth.
Significant Density Potential: Current zoning allows for up to 3 units, with potential for greater density under state laws like SB-9 and SB-684, maximizing development yield.
Existing Infrastructure: Property includes existing utilities and a water meter, which can significantly reduce initial development costs and accelerate project timelines.
High-Impact Investment: Offers a rare opportunity to address urgent housing needs in a high-demand area, appealing to developers seeking both financial return and community contribution.

Cons

Demolition Required: The presence of a collapsed single-family home necessitates demolition and debris removal, adding significant upfront costs and project complexity.
Regulatory Due Diligence: Buyers must conduct extensive research with the Berkeley Planning/Building Department regarding current status and upcoming zoning law amendments, introducing potential uncertainties and delays.
Non-Habitable Structure: The existing structure is unusable, meaning the property is strictly a land acquisition for development, limiting the buyer pool to experienced developers or investors.

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