Berkeley Multifamily Investment Opportunity

2172 Blake St, Berkeley, CA 94704

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For Sale

$2,700,000

10-unit building near UC Berkeley with income growth potential.

Type:Commercial

Property size:

6,902 SF

Price / SF:

$391/SF

HighLights

Prime location: Just four blocks from UC Berkeley and half a block from Shattuck Avenue.
Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.
Seismically retrofitted: Building is structurally sound and no longer on Berkeley’s soft story list.
High‑demand unit mix: Features (2) 1BD and (8) 2BD units, ideal for the Berkeley rental market.
On‑site amenities: Includes gated entry, 10 parking spaces, 11 storage closets, and on‑site laundry.
Potential for increased unit count: Oversized living rooms can be reconfigured into additional bedrooms.

We can help!

Listing Contact

JOEY WANG

Learn more

For Sale

$2,700,000

10-unit building near UC Berkeley with income growth potential.

Type:Commercial

Property size:

6,902 SF

Price / SF:

$391/SF

Added:: Apr 15, 2026
Days on Market:: 55
Last Refresh:: Apr 15 at 8:12 pm

Property Features for 2172 Blake St

General Information

Standard status: Active
Size: 6,902 SF
Property subtype: Commercial

Building Details

Year Built: 1963

We can help!

Listing Contact

JOEY WANG

Listing agent JOEY WANG

Listing office KELLER WILLIAMS REALTY

Listing date Apr 15, 2026

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 KELLER WILLIAMS REALTY

HighLights

Prime location: Just four blocks from UC Berkeley and half a block from Shattuck Avenue.
Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.
Seismically retrofitted: Building is structurally sound and no longer on Berkeley’s soft story list.
High‑demand unit mix: Features (2) 1BD and (8) 2BD units, ideal for the Berkeley rental market.
On‑site amenities: Includes gated entry, 10 parking spaces, 11 storage closets, and on‑site laundry.
Potential for increased unit count: Oversized living rooms can be reconfigured into additional bedrooms.

Overview

Located four blocks from UC Berkeley and half a block from Shattuck Avenue, this 10-unit multifamily property at 2172 Blake St in Berkeley, CA, offers a strong rental location. The building comprises 6,902 square feet and features a unit mix of two 1-bedroom units and eight 2-bedroom units. Current rents for the 2-bedroom units average between $2,300 and $2,500 per month, suggesting potential for growth toward market levels of approximately $3,000 or more. Several units include oversized living rooms that may be reconfigured into additional bedrooms. The building has been seismically retrofitted and is no longer on Berkeley’s soft story list. Additional features include gated entry, 10 parking spaces, 11 storage closets, and onsite laundry. The property is positioned as a stabilized asset with upside potential in both income and long-term value, with transit, dining, and the UC Berkeley campus nearby.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$262.6k	$38.04
− Vacancy	−$13.1k	−$1.90
EGI	$249.4k	$36.14
− OpEx	−$112.2k	−$16.26
NOI	$137.2k	$19.88

6,902 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.96M

$1.71M – $2.29M (±1% cap)

NOI $137,183 @ 7.0% cap · market cap 5.08%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$2.67M

$2.34M – $3.11M (±1% cap)

NOI $186,851 @ 7.0% cap · market cap 6.92%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Innovative Design Advertising Agency

Suggested Use

Location Insight

Map
Local Demand

City: Berkeley
County: Alameda
State: California
Longitude: -122.2653494
Latitude: 37.8630434

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For sale
Apartment buildings
CA
Berkeley
94704
2172 Blake St

What type of property is this?

Apartment building - 10-unit building near UC Berkeley with income growth potential.

Where is this apartment building located?

The property is located at 2172 Blake St Berkeley, CA.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: Prime location: Just four blocks from UC Berkeley and half a block from Shattuck Avenue.; Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.; Seismically retrofitted: Building is structurally sound and no longer on Berkeley’s soft story list.