Five-Unit Apartment
2116 Eighth Street Berkeley, CA 94710
2116 Eighth Street, Berkeley, CA, 94710
$1,350,000
For Sale
$1,350,000
As-is five-unit building offered with deferred maintenance, available vacancy at close, and Section 8 rent documentation.
Property Size4,040 SF
Price / SF$334.16
Days on Market72
Property Features for 2116 Eighth Street
General Information
- Standard status
- Active
- Size
- 4,040 SF
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1964
Listing agency
Lamont Thompson, Broker
(415) 308-4059
Listed by
Lamont Thompson · License #01172158
(415) 308-4059
Source
Compass
Added: May 11 Updated: Jul 20 at 6:30PM Checked: Jul 21 at 6:01AM
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 Lamont Thompson, Broker
Investment Insights
Based on property information with market context.
A five-unit apartment building is being offered for sale on an as-is basis. The owner-builder is making the property available for the first time in 62 years. The structure has some deferred maintenance, with heavy wear reported in units B, C, and D. A termite report, including a cost-to-cure estimate of $29,200 for Section 1 and Section 2, has been uploaded, along with preliminary title and JCP reporting.
The building is located at 2116 Eighth Street in Berkeley, CA 94710. Rent information provided reflects projections using approved two-bedroom Section 8 rents for the 94710 zip code, and the last Section 8 tenant reportedly paid $3,140 per month. The owner will deliver the building vacant at close of escrow.
The building is located at 2116 Eighth Street in Berkeley, CA 94710. Rent information provided reflects projections using approved two-bedroom Section 8 rents for the 94710 zip code, and the last Section 8 tenant reportedly paid $3,140 per month. The owner will deliver the building vacant at close of escrow.
Key Highlights
- Five‑unit building built in 1964, sold as‑is
- Deferred maintenance reported with heavy wear in units B, C, and D
- Termite report with a $29,200 cost‑to‑cure estimate uploaded (Section 1 and Section 2)
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 | $153.7k | $38.04 |
| − Vacancy | −$7.7k | −$1.90 |
| EGI | $146.0k | $36.14 |
| − OpEx | −$65.7k | −$16.26 |
| NOI | $80.3k | $19.88 |
4,040 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,299 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,371 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - As-is five-unit building offered with deferred maintenance, available vacancy at close, and Section 8 rent documentation.
Where is this apartment building located?
The property is located at 2116 Eighth Street Berkeley, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Five‑unit building built in 1964, sold as‑is; Deferred maintenance reported with heavy wear in units B, C, and D; Termite report with a $29,200 cost‑to‑cure estimate uploaded (Section 1 and Section 2)
