Berkeley Multifamily Investment
2118 California, Berkeley, CA 94703
Five units in prime Central Berkeley location near UC Berkeley.
Property size:
4,528 SFPrice / SF:
$392/SF- Added:
- Apr 22, 2025
- Days on Market:
- 405
- Last Refresh:
- Mar 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 agent MARGARET LIN
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
HighLights
- Prime Central Berkeley location with a walk score of 90.
- Strong rental income potential.
- Close proximity to UC Berkeley and downtown Berkeley.
- Convenient access to North Berkeley BART (0.5 miles) and Downtown Berkeley BART (0.7 miles).
- Five units across two separate buildings.
- Remodeled kitchen in the front building's 3‑bedroom unit.
Overview
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.
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 | $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
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Berkeley
- County
- Alameda
- State
- California
- Longitude
- -122.28
- Latitude
- 37.8689
Nearby Similar for Sale
FAQs
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.
