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Berkeley Multifamily Investment Opportunity

2118 California Berkeley, CA 94703

2118 California, Berkeley, CA, 94703

$1,777,000

For Sale

$1,777,000

Five units in prime Central Berkeley location near UC Berkeley.

Property Size4,528 SF

Price / SF$392.45

AddedApr 22, 2025

Days on Market451

Last RefreshMar 16 at 9:09 am

Property Features for 2118 California

General Information

Standard status: Active
Size: 4,528 SF

Building Details

Year Built: 1940

Listing office COLDWELL BANKER REALTY

Listing date Apr 22, 2025

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER REALTY

Investment Insights

Based on property information with market context.

This investment property is located in a prime Central Berkeley neighborhood, offering convenient access to UC Berkeley, local parks, shops, restaurants, and major commuter routes. The property has a walk score of 90 and is situated 0.5 miles from North Berkeley BART and 0.7 miles from Downtown Berkeley BART. The property consists of two separate buildings with a total of five units. The front building includes a 3-bedroom, 1-bath unit with a fully remodeled kitchen on the ground floor, along with two 1-bedroom, 1-bath units on the upper level. The rear building features a 2-bedroom, 1-bath unit on the ground floor and a vacant 2-bedroom, 1-bath unit on the top floor. The property size is 4528 square feet. Its location close to UC Berkeley and downtown makes this a compelling investment opportunity.

Key Highlights

Prime Central Berkeley location with a walk score of 90.
Strong rental income potential.
Close proximity to UC Berkeley and downtown Berkeley.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$172.2k	$38.04
− Vacancy	−$8.6k	−$1.90
EGI	$163.6k	$36.14
− OpEx	−$73.6k	−$16.26
NOI	$90.0k	$19.88

4,528 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.29M

$1.12M – $1.50M (±1% cap)

NOI $89,998 @ 7.0% cap · market cap 5.06%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,582 @ 7.0% cap · market cap 6.90%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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Suggested Use

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For sale
Apartment buildings
CA
Berkeley
94703
2118 California

What type of property is this?

Apartment building - Five units in prime Central Berkeley location near UC Berkeley.

Where is this apartment building located?

The property is located at 2118 California Berkeley, CA.

What is the asking price?

The asking price for this property is $1,777,000.

What are key features of this property?

This property features: Prime Central Berkeley location with a walk score of 90.; Strong rental income potential.; Close proximity to UC Berkeley and downtown Berkeley.