9-Unit Apartment
2120 Grant Street, Berkeley, CA 94703
For Sale
$3,800,000
Recent work includes seismic upgrades and remodeled apartments.
Property Size7,347 SF
Price / SF$517.22
Days on Market68
Property Features for 2120 Grant Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
private balconies
Building Details
Building Size
Year Built
Buildings
Listing Agency:
NAI Northern California
(510) 336-4712
Listed By:
Grant Chappell · License #01700439
(415) 246-4314
Source:
Jeans-realty
Added: Sep 3
Changed: Nov 8
Last Checked: Nov 8 at 2:57PM
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 NAI Northern California
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Investment Insights
Based on property information with market context.
This 9-unit apartment property was built in 1964 and has undergone seismic retrofitting and apartment renovations. The unit mix consists of eight 2-bedroom, 2-bathroom apartments and one 3-bedroom, 2-bathroom apartment. Each residence has a private balcony.
The property is at 2120 Grant Street in Berkeley, six blocks from UC Berkeley. BART and Shattuck Avenue are also nearby, along with downtown Berkeley, local businesses, and national retailers. North Berkeley’s Gourmet Ghetto, including Chez Panisse and Cheese Board, is within walking distance.
City-approved plans call for two additional accessory dwelling units, each with 3 bedrooms and 2 bathrooms.
The property is at 2120 Grant Street in Berkeley, six blocks from UC Berkeley. BART and Shattuck Avenue are also nearby, along with downtown Berkeley, local businesses, and national retailers. North Berkeley’s Gourmet Ghetto, including Chez Panisse and Cheese Board, is within walking distance.
City-approved plans call for two additional accessory dwelling units, each with 3 bedrooms and 2 bathrooms.
Key Highlights
- 9 apartment units, built in 1964
- Unit mix: eight 2‑bedroom, 2‑bathroom apartments and one 3‑bedroom, 2‑bathroom apartment
- Private balcony at each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,028
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,920,560
$2.9M
Cap Rate 7%
$2,086,114
$2.1M
Cap Rate 9%
$1,622,533
$1.6M
Market Conditions
NOI Build-Up for 7,347 SF
Gross rent
$279.5K $38.04/SF
− Vacancy
−$14.0K −$1.90/SF
EGI
$265.5K $36.14/SF
− OpEx
−$119.5K −$16.26/SF
NOI
$146.0K $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%
$2,920,560
Cap Rate 7%
$2,086,114
Cap Rate 9%
$1,622,533
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.43M
NOI $146,028 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.84M
$2.49M – $3.31M
NOI $198,898 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,352
Businesses Nearby
Explore this area
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
$1,273,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Berkeley, CA
Properties on Market for Apartment buildings in Berkeley
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Recent work includes seismic upgrades and remodeled apartments.
Where is this apartment building located?
The property is located at 2120 Grant Street Berkeley, CA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 9 apartment units, built in 1964; Unit mix: eight 2‑bedroom, 2‑bathroom apartments and one 3‑bedroom, 2‑bathroom apartment; Private balcony at each apartment
