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Berkeley Multifamily Investment Opportunity

2466 Virginia St, Berkeley, CA 94709

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For Sale

$4,000,000

Well-maintained 18-unit apartment building near UC Berkeley.

Type:Multifamily

Property size:

13,296 SF

Lot size:

0.14 Acres

Price / SF:

$300/SF

HighLights

Delivered fully vacant, offering immediate opportunity to reposition the asset and establish market rents.
Over $1 million in capital improvements since 2017, addressing major systems and reducing deferred maintenance.
Prime North Berkeley location, blocks from UC Berkeley, Downtown Berkeley amenities, and public transportation (BART).
Well‑maintained 18‑unit multifamily asset with a desirable unit mix of studios and one‑bedroom apartments.
Classic early twentieth‑century architectural character with a textured stucco façade, bay window detailing, and a tiled roofline.
Strong rental demand from students, faculty, and professionals due to walkability, transit access, and proximity to UC Berkeley.

We can help!

Listing Contact

Jimmy Castellanos

Learn more

For Sale

$4,000,000

Well-maintained 18-unit apartment building near UC Berkeley.

Type:Multifamily

Property size:

13,296 SF

Lot size:

0.14 Acres

Price / SF:

$300/SF

Added:: Apr 3, 2026
Days on Market:: 67
Last Refresh:: Apr 3 at 5:40 am

Property Features for 2466 Virginia St

General Information

Standard status: Active
Size: 13,296 SF
Lot size: 0.14 Acres
Property subtype: Multifamily

We can help!

Listing Contact

Jimmy Castellanos

Listing agent Jimmy Castellanos License #CA: 02024152

Listing office Palo Alto 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 Palo Alto Office

HighLights

Delivered fully vacant, offering immediate opportunity to reposition the asset and establish market rents.
Over $1 million in capital improvements since 2017, addressing major systems and reducing deferred maintenance.
Prime North Berkeley location, blocks from UC Berkeley, Downtown Berkeley amenities, and public transportation (BART).
Well‑maintained 18‑unit multifamily asset with a desirable unit mix of studios and one‑bedroom apartments.
Classic early twentieth‑century architectural character with a textured stucco façade, bay window detailing, and a tiled roofline.
Strong rental demand from students, faculty, and professionals due to walkability, transit access, and proximity to UC Berkeley.

Overview

Located blocks from the University of California, Berkeley, the property at 2466 Virginia Street is an 18-unit multifamily asset. Constructed in 1929, the three-story building encompasses approximately 13,296 square feet on a 6,250 square foot lot. The building features early twentieth-century architectural elements, including a textured stucco façade, bay window detailing, and a tiled roofline. The unit mix comprises three studios and fifteen one-bedroom, one-bathroom apartments. Situated in Berkeley’s North Berkeley neighborhood, the property provides access to campus, Cal Memorial Stadium, and the retail and dining amenities of Downtown Berkeley. The Downtown Berkeley BART Plaza is nearby. The surrounding area features mature trees, landscaping, and residential buildings. Since 2017, the property has undergone over One Million Dollars in capital improvements, including boiler replacement, roof restoration, full window replacement, driveway reconstruction, exterior repainting, installation of a keypad access system, surveillance cameras, new electrical panels, and plumbing upgrades. Interior upgrades include new flooring and paint. The property will be delivered fully vacant, providing an investor with the opportunity to reposition the asset and establish rents at current market levels.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$505.8k	$38.04
− Vacancy	−$25.3k	−$1.90
EGI	$480.5k	$36.14
− OpEx	−$216.2k	−$16.26
NOI	$264.3k	$19.88

13,296 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.78M

$3.30M – $4.40M (±1% cap)

NOI $264,270 @ 7.0% cap · market cap 6.61%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$5.14M

$4.50M – $6.00M (±1% cap)

NOI $359,949 @ 7.0% cap · market cap 9.00%

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: -122.2613382
Latitude: 37.8774446

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For sale
Apartment buildings
CA
Berkeley
94709
2466 Virginia St

What type of property is this?

Apartment building - Well-maintained 18-unit apartment building near UC Berkeley.

Where is this apartment building located?

The property is located at 2466 Virginia St Berkeley, CA.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: Delivered fully vacant, offering immediate opportunity to reposition the asset and establish market rents.; Over $1 million in capital improvements since 2017, addressing major systems and reducing deferred maintenance.; Prime North Berkeley location, blocks from UC Berkeley, Downtown Berkeley amenities, and public transportation (BART).

2466 Virginia St, Berkeley, CA 94709

Well-maintained 18-unit apartment building near UC Berkeley.

Property Features for 2466 Virginia St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Historic Multifamily Estate

Seven-Unit Multifamily Property

Berkeley Multifamily Investment Opportunity

Updated Victorian Fourplex in Berkeley

Mixed-Use Asset Near Ashby BART

Berkeley Triplex with Spanish Revival

Mixed-Use Apartment and Retail Building

Berkeley Multifamily Investment Opportunity

Berkeley Mid-Century Modern Triplex

Berkeley Fourplex Near U.C. Berkeley

Berkeley Golden Duplex - Rebuilt

Berkeley Fourplex Near UC Campus

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