Mixed-Use Student Housing
2171 Allston Way Berkeley, CA 94704
2171 Allston Way, Berkeley, CA, 94704
$16,800,000
For Sale
$16,800,000
Premier mixed-use property near UC Berkeley with retail and residential.
Property Size31,802 SF
Lot Size0.28 Acres
Price / SF$528.27
Days on Market178
Property Features for 2171 Allston Way
General Information
- Standard status
- Active
- Size
- 31,802 SF
- Lot size
- 0.28 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency
MARCUS & MILLICHAP
(650) 391-1700
Listed by
PHILIP BATLIN
Source
Corcoran
Added: Jan 22 Checked: Jul 17 at 2:28 am
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 MARCUS & MILLICHAP
Investment Insights
Based on property information with market context.
This mixed-use property, known as Oxford Hall, is located across from the main entrance to UC Berkeley in Downtown Berkeley. The building has a total area of approximately 31,802 square feet, with approximately 23,072 square feet dedicated to residential space and approximately 8,730 square feet for commercial use. The lot size is approximately 12,250 square feet, which is 0.28 acres. The three-story building includes ground-floor retail space and residential units on the upper floors. It features 47 units, including singles, studios, one-bedroom, and two-bedroom layouts, with utilities included. These units are designed for students and faculty. The property also includes six retail suites, currently occupied by tenants such as Replica Copy, Alborz Persian Restaurant, Spice, Sumo Roll Sushi, and Domingo Property Management, with one vacant suite representing a repositioning opportunity. The property is located one block from the Downtown Berkeley BART station and is surrounded by over 200 restaurants, shops, and theaters, as well as the Berkeley Art Museum and Pacific Film Archive. This location benefits from high foot traffic. The property offers diversified income through its student housing and retail components. It is located in a high-barrier Berkeley market.
Key Highlights
- Prime location directly across from UC Berkeley's main entrance.
- High‑performing mixed‑use asset with diversified income from student housing and retail.
- Located in a supply‑constrained student housing market with strong occupancy and rental growth potential.
Local Financial Insights For Retail
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 | $1.14M | $36.00 |
| − Vacancy | −$85.9k | −$2.70 |
| EGI | $1.06M | $33.30 |
| − OpEx | −$317.7k | −$9.99 |
| NOI | $741.3k | $23.31 |
31,802 SF · lease $36.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$10.59M
$9.27M – $12.36M
NOI $741,305 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$9.03M
$7.90M – $10.53M
NOI $632,093 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$12.30M
$10.76M – $14.35M
NOI $860,944 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Domingo Property Management
Real Estate Agency
Blueprint LSAT Preparation
Tutoring Service
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Premier mixed-use property near UC Berkeley with retail and residential.
Where is this mixed-use property located?
The property is located at 2171 Allston Way Berkeley, CA.
What is the asking price?
The asking price for this property is $16,800,000.
What are key features of this property?
This property features: Prime location directly across from UC Berkeley's main entrance.; High‑performing mixed‑use asset with diversified income from student housing and retail.; Located in a supply‑constrained student housing market with strong occupancy and rental growth potential.
