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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 upside.

Type:Investment

Property size:

6,902 SF

Price / SF:

$391/SF

HighLights

Prime location: Just four blocks from UC Berkeley and half a block off Shattuck Ave.
Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.
Seismically retrofitted: Building is no longer on Berkeley’s soft story list.
Ten parking spaces and eleven storage closets included.
Unit mix: Consists of (2) 1BDs and (8) 2BDs, totaling 10 units.
Oversized living rooms in several units offer reconfiguration potential for additional bedrooms.

We can help!

Listing Contact

Joey Wang

Learn more

For Sale

$2,700,000

10-unit building near UC Berkeley with income upside.

Type:Investment

Property size:

6,902 SF

Price / SF:

$391/SF

Added:: Apr 24, 2026
Days on Market:: 58
Last Refresh:: Apr 24 at 6:05 pm

Property Features for 2172 Blake St

General Information

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

Building Details

Year Built: 1963

We can help!

Listing Contact

Joey Wang

Listing agent Joey Wang

Listing office Keller Williams Realty Walnut Creek

Listing date Apr 24, 2026

Source Elliman

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 Walnut Creek

HighLights

Prime location: Just four blocks from UC Berkeley and half a block off Shattuck Ave.
Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.
Seismically retrofitted: Building is no longer on Berkeley’s soft story list.
Ten parking spaces and eleven storage closets included.
Unit mix: Consists of (2) 1BDs and (8) 2BDs, totaling 10 units.
Oversized living rooms in several units offer reconfiguration potential for additional bedrooms.

Overview

Located four blocks from UC Berkeley and half a block from Shattuck Avenue, 2172 Blake St is a 10-unit multifamily property in a reliable 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 $2,300 to $2,500 per month, with 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. It also includes gated entry, 10 parking spaces, 11 storage closets, and onsite laundry. The property is described as a stabilized asset with upside potential in both income and long-term value. The bike score is 28, indicating it is somewhat bikeable. The walk score is 31, indicating car-dependent surroundings, and the transit score is 35, indicating some transit options are available.

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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10-unit building near UC Berkeley with income upside.

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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 upside.

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 off Shattuck Ave.; Strong rental income potential: Current rents below market with room to grow to $3,000+/month for 2BD units.; Seismically retrofitted: Building is no longer on Berkeley’s soft story list.