Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Berkeley Apartment Community For Sale Title is generated by Realmo AI

    2231 Grant St, Berkeley, CA 94703

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    22-unit apartment community in Berkeley with value-add opportunity.

    Type:Multifamily
    Added:
    Feb 6, 2026
    Days on Market:
    117
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 2231 Grant St

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1967

    We can help!

    Listing Contact
    Eymon Binesh

    Listing agent Eymon Binesh License #CA 02060059

    Listing office Marcus & Millichap - Palo Alto

    Listing date Feb 6, 2026

    Source Crexi

    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 - Palo Alto

    HighLights

    • Value‑add opportunity with potential to increase cap rate from 5.53% to 8.5%.
    • Exceptionally low price per unit in a supply‑constrained market.
    • Located in a highly desirable rental market in Berkeley with consistent demand.
    • Strong mix of spacious two‑bedroom, one‑bedroom, and studio floor plans.
    • Proximity to major employers, transit, downtown Berkeley, and UC Berkeley.
    • Well‑located 22‑unit apartment community.

    Overview

    The property at 2231 Grant Street is a 22-unit apartment community located in Berkeley. The unit mix includes two-bedroom, one-bedroom, and studio floor plans. The property is situated in a rental market with consistent demand, benefiting from proximity to major employers and transit, and easy access to downtown Berkeley, UC Berkeley, and neighborhood retail. The property offers a 5.53% in-place cap-rate with upside to an estimated 8.5% return, combined with a low price per unit, presenting a value-add opportunity in one of the Bay Area's rental markets.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Berkeley
    County
    Alameda
    State
    California
    Longitude
    -122.2744951
    Latitude
    37.8673591

    Nearby Similar for Sale

    • $1,150,000
      3,699 SF

      Berkeley Triplex with Spanish Revival

      1931 Spanish Revival triplex near UC Berkeley.
      1544 Channing Way, Berkeley, CA 94703
      View Details
    • $2,550,000
      5,216 SF

      Berkeley Multifamily Investment Opportunity

      Well-located 14-unit apartment building near amenities and transportation.
      1213 San Pablo Ave, Berkeley, CA 94706
      View Details
    • $1,595,000
      3,327 SF

      Updated Victorian Fourplex in Berkeley

      Rare, updated Victorian fourplex with income potential in Berkeley, CA.
      2140 Woolsey St, Berkeley, CA 94705
      View Details
    • $3,700,000
      9,068 SF

      Mixed-Use Asset Near Ashby BART

      Mixed-use 7-unit asset in the heart of South Berkeley.
      3228 Adeline Street, Berkeley, CA 94703
      View Details
    • $2,700,000
      6,902 SF

      Berkeley Multifamily Investment Opportunity

      10-unit building near UC Berkeley with income upside.
      2172 Blake St, Berkeley, CA 94704
      View Details
    • $4,200,000
      17,610 SF

      Mixed-Use Asset Near UC Berkeley

      25-unit mixed-use property near UC Berkeley with strong performance.
      1732 University Ave, Berkeley, CA 94705
      View Details
    • $1,400,000
      2,906 SF

      Berkeley Mid-Century Modern Triplex

      Unique triplex with spacious units and convenient South Berkeley location.
      2727 Mcgee Ave, Berkeley, CA 94703
      View Details
    • $1,349,000
      3,081 SF

      Berkeley Fourplex Near College Avenue

      Four-unit property in a desirable Berkeley location near amenities.
      3037 College Ave, Berkeley, CA 94705
      View Details
    • $1,858,000
      2,277 SF

      Berkeley Golden Duplex - Rebuilt

      Fully rebuilt duplex in North Berkeley, ideal for rental income.
      1841 Vine St, Berkeley, CA 94703
      View Details
    • $2,290,000
      3,820 SF

      Berkeley Office Building with Parking

      Prime office building near UC Berkeley with private gated parking.
      1633 University Ave, Berkeley, CA 94703
      View Details
    • $1,495,000
      2,819 SF

      Berkeley Fourplex Near U.C. Berkeley

      Fourplex in prime Berkeley location with development potential.
      2923 Wheeler Street, Berkeley, CA 94705
      View Details
    • $1,700,000
      2,396 SF

      Berkeley Fourplex Near UC Campus

      Four-unit residential building near UC Berkeley with strong rental income.
      1682 Oxford St, Berkeley, CA 94709
      View Details

    FAQs

    What type of property is this?
    Apartment building - 22-unit apartment community in Berkeley with value-add opportunity.
    Where is this apartment building located?
    The property is located at 2231 Grant St Berkeley, CA.
    What is the asking price?
    The asking price for this property is $5,328,000.
    What are key features of this property?
    This property features: Value‑add opportunity with potential to increase cap rate from 5.53% to 8.5%.; Exceptionally low price per unit in a supply‑constrained market.; Located in a highly desirable rental market in Berkeley with consistent demand.
    (650) 391-1700 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Eymon Binesh
    Real Estate License ID: CA 02060059
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2231 Grant St, Berkeley, CA 94703
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!