Berkeley Multifamily Investment
For Sale
$1,777,000
2118 California, Berkeley, CA 94703
Five units in prime Central Berkeley location near UC Berkeley.
Property Size4,528 SF
Price / SF$392.45
Days on Market542
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Property Features for 2118 California
General Information
Standard status
Active
Size
4,528 SF
Building Details
Year Built
1940
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
MARGARET LIN
Source:
Corcoran
Added: Apr 22, 2025
Changed: Mar 16
Last Checked: Aug 23 at 7:46AM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,998
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,799,960
$1.8M
Cap Rate 7%
$1,285,686
$1.3M
Cap Rate 9%
$999,978
$1,000.0K
Market Conditions
NOI Build-Up for 4,528 SF
Gross rent
$172.2K $38.04/SF
− Vacancy
−$8.6K −$1.90/SF
EGI
$163.6K $36.14/SF
− OpEx
−$73.6K −$16.26/SF
NOI
$90.0K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,799,960
Cap Rate 7%
$1,285,686
Cap Rate 9%
$999,978
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.12M – $1.50M
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
NOI $122,582 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,574
Businesses Nearby
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Business Placement
Demographics for 94703, CA
20,805
Population
9,654
Households
2.2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
16,004
Density / Sq Mi
$108,922
Median Household Income
$66,261
Median Earnings
$2,257
Median Rent
$1,273,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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.
