Berkeley Multifamily Property Near
For Sale
$5,995,000
2501 ROSE WALK, Berkeley, CA 94708
Iconic 9-unit multifamily property near UC Berkeley campus.
Property Size9,044 SF
Price / SF$662.87
Days on Market164
Property Features for 2501 ROSE WALK
General Information
Standard status
Active
Size
9,044 SF
Property subtype
Commercial
Amenities
Central Forced Air Heating
Garden/ Greenbelt/ Trails
Hardwood Flooring
In Laundry Room
Irregular
Laundry Facility - Coin-Op
Linoleum Flooring
Parking Area
Sloped Up
Steam Heating
Tile Roof
Wood Flooring
Building Details
Year Built
1936
Listing Agency:
THE AGENCY
(510) 255-6400
Listed By:
ARLENE BAXTER · License #01209552
Source:
Corcoran
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 8 at 6:13AM
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 THE AGENCY
Investment Insights
Based on property information with market context.
This multifamily property features nine units designed by Henry Gutterson. The units include four duplexes facing Maybeck's landmark Rose Walk, set around a landscaped garden courtyard, plus one private cottage with a spacious private deck. The upper units offer views. Each unit is unique and features hardwood floors and fireplaces. The duplex units are used as two-plus bedrooms. The cottage and garages face Codornices Road. The property is located in North Berkeley, near the Rose Garden and UC Berkeley campus, with a bus stop in front providing direct access to BART. One unit and garage are kept vacant for easy showing. All other units are tenant-occupied, with a shared laundry room. The property has landmark status and Mills Act benefits, potentially offering property tax relief. The property is comprised of 9,044 square feet.
Key Highlights
- Landmark status and Mills Act designation provide significant property tax relief.
- Prime North Berkeley location near UC Berkeley, Rose Garden, and North Berkeley amenities, with direct bus access to BART.
- Nine unique units designed by renowned architect Henry Gutterson, offering a blend of historical charm and urban living.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$179,758
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,595,160
$3.6M
Cap Rate 7%
$2,567,971
$2.6M
Cap Rate 9%
$1,997,311
$2.0M
Market Conditions
NOI Build-Up for 9,044 SF
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.
Gross rent
$344.0K $38.04/SF
− Vacancy
−$17.2K −$1.90/SF
EGI
$326.8K $36.14/SF
− OpEx
−$147.1K −$16.26/SF
NOI
$179.8K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,595,160
Cap Rate 7%
$2,567,971
Cap Rate 9%
$1,997,311
Alternative Uses
Best Use
Apartment 5plus
$2.57M
$2.25M – $3.00M
NOI $179,758 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.50M
$3.06M – $4.08M
NOI $244,839 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Explore this area
Business Placement
Demographics for 94708, CA
11,553
Population
5,048
Households
2.3
Avg Household Size
51
Median Age
88%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
3,501
Density / Sq Mi
$229,004
Median Household Income
$104,449
Median Earnings
$2,926
Median Rent
$1,517,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Iconic 9-unit multifamily property near UC Berkeley campus.
Where is this apartment building located?
The property is located at 2501 ROSE WALK Berkeley, CA.
What is the asking price?
The asking price for this property is $5,995,000.
What are key features of this property?
This property features: Landmark status and Mills Act designation provide significant property tax relief.; Prime North Berkeley location near UC Berkeley, Rose Garden, and North Berkeley amenities, with direct bus access to BART.; Nine unique units designed by renowned architect Henry Gutterson, offering a blend of historical charm and urban living.
