Berkeley Multifamily Investment
2172 Blake St, Berkeley, CA 94704
- Added:
- Apr 14, 2026
- Days on Market:
- 49
- Last Refresh:
- Jun 1 at 4:06 pm
Property Features for 2172 Blake St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Garage, Parking Lot, Assigned, Open, Covered
- Security features
- Security
- Interior features
- Storage
- Appliances
- Refrigerator, Dryer, Washer, Gas Water Heater, Solar Hot Water
- Standard status
- Pending
- APN
- 55182423
- Size
- 6,902 SF
- Lot size
- 0.16 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Wall Furnace
Building Details
- Year built
- 1963
- Flooring type
- Carpet, Tile, Vinyl
- Building materials
- Brick, Stucco
- Additional Structures
- Storage
Listing agent Joey Wang (510) 592-5554
Listing office Keller Williams Realty 201 N Civic Drive, Suite 130, Walnut Creek, CA (925) 934-2900
Listing date Apr 14, 2026
MLS# 41130815
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.
HighLights
- Prime location: Just four blocks from UC Berkeley and half a block from Shattuck Avenue.
- Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.
- Seismically retrofitted: Building is no longer on Berkeley's soft story list.
- Valuable amenities: Includes gated entry, 10 parking spaces, 11 storage closets, and onsite laundry.
- Unit mix with reconfiguration potential: 10 units total, with oversized living rooms in several units that can be converted into additional bedrooms.
- Well‑maintained structure: Clean and well‑maintained building with a mix of 1BD and 2BD units.
Overview
Located four blocks from UC Berkeley and half a block from Shattuck Ave, this 10-unit multifamily property at 2172 Blake St, Berkeley, CA 94704, is situated in a reliable rental location. The building comprises 6,902 square feet and features a unit mix of two 1-bedroom units and eight 2-bedroom units. The property has been seismically retrofitted and is no longer on Berkeley's soft story list. It includes gated entry, 10 parking spaces, 11 storage closets, and onsite laundry. Several units feature oversized living rooms that may be reconfigured into additional bedrooms. Current 2-bedroom rents average $2,300-$2,500 per month, with potential to grow toward ~$3,000+ market levels. The property is positioned as a stabilized asset with upside in both income and long-term value. The lot size is 0.155 acres.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $262.6k | $38.04 |
| − Vacancy | −$13.1k | −$1.90 |
| EGI | $249.4k | $36.14 |
| − OpEx | −$112.2k | −$16.26 |
| NOI | $137.2k | $19.88 |
6,902 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.29M
NOI $137,183 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.67M
$2.34M – $3.11M
NOI $186,851 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Innovative Design
Advertising Agency
Location Insight
- Map
- Local Demand
- City
- Berkeley
- County
- Alameda
- State
- California
- Longitude
- -122.265373
- Latitude
- 37.863043
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 10-unit building near UC Berkeley with income upside.
Where is this apartment building located?
The property is located at 2172 Blake St Berkeley, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Prime location: Just four blocks from UC Berkeley and half a block from Shattuck Avenue.; Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.; Seismically retrofitted: Building is no longer on Berkeley's soft story list.
