Back to Search

Berkeley Multifamily Investment Opportunity

2477 Virginia ST, Berkeley, CA 94709

View on Map

For Sale

$7,650,000

24-unit multifamily property near UC Berkeley with rental upside.

Type:Investment

Property size:

25,644 SF

Lot size:

0.29 Acres

Price / SF:

$298/SF

HighLights

Strong in‑place income with 20‑25% rental upside potential.
Seller financing available at 4.50%.
Prime North Berkeley location, minutes from UC Berkeley and the Gourmet Ghetto.
High Walk Score of 90, indicating excellent walkability.
25 secure parking spaces.
Mix of unit types: studios, one‑bedroom, and two‑bedroom units.

We can help!

Listing Contact

Ryland Montes De Oca

Learn more

For Sale

$7,650,000

24-unit multifamily property near UC Berkeley with rental upside.

Type:Investment

Property size:

25,644 SF

Lot size:

0.29 Acres

Price / SF:

$298/SF

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

Property Features for 2477 Virginia ST

General Information

Standard status: Active
Size: 25,644 SF
Lot size: 0.29 Acres
Property subtype: Investment

Building Details

Year Built: 1964

We can help!

Listing Contact

Ryland Montes De Oca

Listing agent Ryland Montes De Oca

Listing office MATTHEWS REAL ESTATE INVESTMENT SERVICES INC.

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 MATTHEWS REAL ESTATE INVESTMENT SERVICES INC.

HighLights

Strong in‑place income with 20‑25% rental upside potential.
Seller financing available at 4.50%.
Prime North Berkeley location, minutes from UC Berkeley and the Gourmet Ghetto.
High Walk Score of 90, indicating excellent walkability.
25 secure parking spaces.
Mix of unit types: studios, one‑bedroom, and two‑bedroom units.

Overview

Court Royal is a 24-unit multifamily property located in North Berkeley. Constructed in 1964, the 25,644 square foot building is situated on a 0.29-acre lot. The unit mix comprises seven studios, eleven one-bedroom/one-bath units, and six two-bedroom/two-bath units. The property provides 25 secure parking spaces and on-site laundry facilities. The property is fully leased with strong in-place income and potential rental upside of approximately 20-25% through turnover and interior upgrades. The location is minutes from the University of California, Berkeley, and the Gourmet Ghetto. The property has a Walk Score of 83, indicating it is very walkable, and a Bike Score of 57, indicating it is bikeable, and a Transit Score of 60, indicating good transit options. There is strong rental demand from students, faculty, and professionals.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$975.5k	$38.04
− Vacancy	−$48.8k	−$1.90
EGI	$926.7k	$36.14
− OpEx	−$417.0k	−$16.26
NOI	$509.7k	$19.88

25,644 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$7.28M

$6.37M – $8.49M (±1% cap)

NOI $509,698 @ 7.0% cap · market cap 6.66%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$9.92M

$8.68M – $11.57M (±1% cap)

NOI $694,234 @ 7.0% cap · market cap 9.07%

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: -122.2613563
Latitude: 37.8779592

Nearby Similar for Sale

$2,798,000

4,512 SF

Renovated Seven-Unit Apartment Building

Renovated seven-unit multifamily property with two- and one-bedroom units, new roof, and gated automatic entry.

1728 7th ST, Berkeley, CA 94710

View Details
$2,900,000

5,749 SF

Well-Maintained 8-Unit Apartment Building

Eight well-kept units with separate PG&E metering, offering a mix of studios through two-bedroom layouts near UC Berkeley.

1671 Arch, Berkeley, CA 94709

View Details
$3,400,000

10,226 SF

Fully Leased 22-Unit Apartment

Three-building, corner-lot rental property with 22 units and established monthly income.

3200 California, Berkeley, CA 94703

View Details
$1,998,000

3,894 SF

Historic Multifamily Estate

A garden-centered estate combining a restored Victorian home, cottages, and flexible carriage house space.

1418 Spruce St, Berkeley, CA 94709

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
$3,300,000

9,068 SF

Mixed-Use 7-Unit Property with Commercial

Mixed-use Berkeley building with renovated apartments and two commercial spaces, including one delivered vacant, near Ashby BART.

3228 Adeline Street, Berkeley, CA 94703

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
$1,000,000

1,405 SF

Duplex with Detached Garage

Two identical 1-bed, 1-bath units with one occupied and a detached garage for parking and storage.

1520-1522 Francisco St, Berkeley, CA 94703

View Details
$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
$4,200,000

17,610 SF

Mixed-Use Apartment and Retail Building

25-unit Berkeley mixed-use property with skylit courtyard, 5 storefront spaces, and recent seismic and roof improvements.

1732 University Ave, Berkeley, CA 94705

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
$1,400,000

2,906 SF

Mid-Century Triplex with Fenced Yard

Mid-century triplex with two first-floor 2BR/1BA units and a vacant 3BR/2BA owner unit with fenced yard.

2727 Mcgee Ave, Berkeley, CA 94703

View Details

For sale
Apartment buildings
CA
Berkeley
94709
2477 Virginia ST

What type of property is this?

Apartment building - 24-unit multifamily property near UC Berkeley with rental upside.

Where is this apartment building located?

The property is located at 2477 Virginia ST Berkeley, CA.

What is the asking price?

The asking price for this property is $7,650,000.

What are key features of this property?

This property features: Strong in‑place income with **20‑25% rental upside potential**.; Seller financing available at 4.50%.; **Prime North Berkeley location**, minutes from UC Berkeley and the Gourmet Ghetto.

2477 Virginia ST, Berkeley, CA 94709

24-unit multifamily property near UC Berkeley with rental upside.

Property Features for 2477 Virginia ST

General Information

Building Details

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

Renovated Seven-Unit Apartment Building

Well-Maintained 8-Unit Apartment Building

Fully Leased 22-Unit Apartment

Historic Multifamily Estate

Berkeley Multifamily Investment Opportunity

Mixed-Use 7-Unit Property with Commercial

Updated Victorian Fourplex in Berkeley

Duplex with Detached Garage

Berkeley Triplex with Spanish Revival

Mixed-Use Apartment and Retail Building

Berkeley Multifamily Investment Opportunity

Mid-Century Triplex with Fenced Yard

FAQs

Create New Password