Berkeley Income Apartment
2241 9th Street Berkeley, CA 94710
2241 9th Street, Berkeley, CA, 94710
$1,450,000
For Sale
$1,450,000
Income building with five 2-bedroom units, seven on-site parking spaces, and two currently vacant units.
Property Size4,750 SF
Lot Size0.16 Acres
Price / SF$305.26
Days on Market145
Property Features for 2241 9th Street
General Information
- Standard status
- Active
- Size
- 4,750 SF
- Lot size
- 0.16 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1964
Listing agency
Marcus & Millichap
(415) 963-3000
Listed by
Ning H Ho · License #(S):CA:01943903
Source
Gregglynn
Added: Feb 26 Updated: Jul 20 at 9:04PM Checked: Jul 21 at 6:18AM
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.
2241 9th Street is a residential income apartment building featuring approximately 4,750 square feet of living space on a 6,913 square-foot lot. The property has five 2-bedroom, 1-bathroom units, including four two-story units positioned at the rear of the lot and one full-floor unit above the front parking area. Two units are currently vacant, providing immediate rental potential.
The property offers seven on-site parking spaces. It is zoned R-2 and is located in West Berkeley with convenient access to Interstates 80 and 580. It is also near shops, restaurants, and local businesses along San Pablo Avenue.
The current configuration is well-suited to an owner seeking a multi-unit income property with a mix of unit layouts within a small, dedicated parking setup.
The property offers seven on-site parking spaces. It is zoned R-2 and is located in West Berkeley with convenient access to Interstates 80 and 580. It is also near shops, restaurants, and local businesses along San Pablo Avenue.
The current configuration is well-suited to an owner seeking a multi-unit income property with a mix of unit layouts within a small, dedicated parking setup.
Key Highlights
- 1964‑built residential income property in West Berkeley with approx. 4,750 SF of living space on a 6,913 SF lot
- Five units total: five 2‑bedroom, 1‑bath units (four two‑story rear units plus one full‑floor unit above the front parking area)
- Two units are currently vacant, providing immediate rental potential
Local Financial Insights For Apartment 5plus
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 | $180.7k | $38.04 |
| − Vacancy | −$9.0k | −$1.90 |
| EGI | $171.7k | $36.14 |
| − OpEx | −$77.2k | −$16.26 |
| NOI | $94.4k | $19.88 |
4,750 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,411 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.14M
NOI $128,592 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Income building with five 2-bedroom units, seven on-site parking spaces, and two currently vacant units.
Where is this apartment building located?
The property is located at 2241 9th Street Berkeley, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 1964‑built residential income property in West Berkeley with approx. 4,750 SF of living space on a 6,913 SF lot; Five units total: five 2‑bedroom, 1‑bath units (four two‑story rear units plus one full‑floor unit above the front parking area); Two units are currently vacant, providing immediate rental potential
