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Berkeley Multifamily Investment Opportunity

2231 Grant St, Berkeley, CA 94703

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For Sale

$5,200,000

Meticulously maintained 22-unit multifamily property in the heart of Berkeley.

Type:Multifamily

Property size:

16,733 SF

Price / SF:

$310/SF

HighLights

High Day‑One Cash Flow: Current 5.53% Cap Rate provides immediate returns.
Significant Upside Potential: 25% loss‑to‑lease offers a clear path to an impressive 8.54% pro forma yield.
Prime Location: Situated in a 'Walker's Paradise' with a 97 Bike Score and 87 Walk Score, close to UC Berkeley and Downtown Berkeley BART.
Strong Rental Market: Berkeley's resilient rental market ensures consistent demand from students, faculty, and tech professionals.
Diverse Unit Mix: Features a versatile mix of studios, one‑bedroom, and two‑bedroom residences.
Functional Amenities: Includes carport parking and individually metered utilities.

We can help!

Listing Contact

Eymon Binesh

Learn more

For Sale

$5,200,000

Meticulously maintained 22-unit multifamily property in the heart of Berkeley.

Type:Multifamily

Property size:

16,733 SF

Price / SF:

$310/SF

Added:: Apr 3, 2026
Days on Market:: 68
Last Refresh:: Apr 3 at 5:08 am

Property Features for 2231 Grant St

General Information

Standard status: Active
Size: 16,733 SF
Property subtype: Multifamily

We can help!

Listing Contact

Eymon Binesh

Listing agent Eymon Binesh License #CA: 02060059

Listing office San Francisco Office

Listing date Apr 3, 2026

Source Marcusmillichap

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 San Francisco Office

HighLights

High Day‑One Cash Flow: Current 5.53% Cap Rate provides immediate returns.
Significant Upside Potential: 25% loss‑to‑lease offers a clear path to an impressive 8.54% pro forma yield.
Prime Location: Situated in a 'Walker's Paradise' with a 97 Bike Score and 87 Walk Score, close to UC Berkeley and Downtown Berkeley BART.
Strong Rental Market: Berkeley's resilient rental market ensures consistent demand from students, faculty, and tech professionals.
Diverse Unit Mix: Features a versatile mix of studios, one‑bedroom, and two‑bedroom residences.
Functional Amenities: Includes carport parking and individually metered utilities.

Overview

The property at 2231 Grant Street is a meticulously maintained 22-unit multifamily community located in the heart of Berkeley, offering a mix of studios, one-bedroom, and two-bedroom residences. This 16,733-square-foot asset represents an investment opportunity in Northern California's rental market. The property delivers day-one cash flow with a 5.53% Cap Rate and features a 25% loss-to-lease, providing an investor with a roadmap to achieve an 8.54% pro forma yield. With its functional layout, carport parking, and individually metered utilities, this asset balances stability with long-term appreciation potential. The property is positioned in a "Walker’s Paradise," with a 97 Bike Score and 87 Walk Score. It is situated blocks from the UC Berkeley campus and the Downtown Berkeley BART station, providing transit access to Oakland and San Francisco. Residents enjoy a neighborhood atmosphere filled with dining, shopping, and parks, while being minutes away from the region's intellectual and economic hubs. This location ensures demand from students, faculty, and tech professionals, making it an investment destination in the East Bay.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$636.5k	$38.04
− Vacancy	−$31.8k	−$1.90
EGI	$604.7k	$36.14
− OpEx	−$272.1k	−$16.26
NOI	$332.6k	$19.88

16,733 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.75M

$4.16M – $5.54M (±1% cap)

NOI $332,583 @ 7.0% cap · market cap 6.40%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$6.47M

$5.66M – $7.55M (±1% cap)

NOI $452,996 @ 7.0% cap · market cap 8.71%

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

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Berkeley
County: Alameda
State: California
Longitude: -122.2744951
Latitude: 37.8673591

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For sale
Apartment buildings
CA
Berkeley
94703
2231 Grant St

What type of property is this?

Apartment building - Meticulously maintained 22-unit multifamily property in the heart of Berkeley.

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 $5,200,000.

What are key features of this property?

This property features: High Day‑One Cash Flow: Current 5.53% Cap Rate provides immediate returns.; Significant Upside Potential: 25% loss‑to‑lease offers a clear path to an impressive 8.54% pro forma yield.; Prime Location: Situated in a 'Walker's Paradise' with a 97 Bike Score and 87 Walk Score, close to UC Berkeley and Downtown Berkeley BART.