Six-Unit Multifamily
For Sale
$2,750,000
2522 Hilgard Ave, Berkeley, CA 94709
Two-building six-unit property with a central courtyard and unit mix including 2-bedroom and 3-bedroom duplex units.
Property Size7,294 SF
Days on Market52
Property Features for 2522 Hilgard Ave
General Information
Standard status
Active
Size
7,294 SF
Property subtype
5 or More Units
Additional Details
Multifamily Units
6
Amenities
central courtyard
Building Details
Building Size
7,294 SF
Year Built
1930
Tenancy
Multi
Listing Agency:
SOTHEBY'S INTERNATIONAL REALTY INC
Listed By:
Devang Parikh
(415) 812-3777
Source:
Annnewtoncane
Added: Jul 18
Changed: Sep 6
Last Checked: Sep 6 at 11:34AM
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 SOTHEBY'S INTERNATIONAL REALTY INC
Investment Insights
Based on property information with market context.
This Berkeley six-unit multifamily property is arranged as two connected buildings centered around a courtyard with access from Hilgard Avenue. The main building at 1655 Euclid Avenue contains four units, each configured with 2 bedrooms and 1 bathroom.
The second building includes two duplex units at 2522 and 2524 Hilgard Avenue. Each duplex is described as having 3 bedrooms and at least 2 bathrooms.
The asset is offered for sale as a residential income opportunity, with proximity to UC Berkeley’s North Gate and the amenities along Euclid Avenue referenced in the public remarks.
The second building includes two duplex units at 2522 and 2524 Hilgard Avenue. Each duplex is described as having 3 bedrooms and at least 2 bathrooms.
The asset is offered for sale as a residential income opportunity, with proximity to UC Berkeley’s North Gate and the amenities along Euclid Avenue referenced in the public remarks.
Key Highlights
- Two‑building six‑unit multifamily property with a central courtyard on a large lot
- Main building (1655 Euclid Ave) has four 2‑bedroom, 1‑bath units
- Second building includes two duplex units at 2522 and 2524 Hilgard Ave
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
$144,975
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
5.27%
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%
$2,899,500
$2.9M
Cap Rate 7%
$2,071,071
$2.1M
Cap Rate 9%
$1,610,833
$1.6M
Market Conditions
NOI Build-Up for 7,294 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
$277.5K $38.04/SF
− Vacancy
−$13.9K −$1.90/SF
EGI
$263.6K $36.14/SF
− OpEx
−$118.6K −$16.26/SF
NOI
$145.0K $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%
$2,899,500
Cap Rate 7%
$2,071,071
Cap Rate 9%
$1,610,833
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.42M
NOI $144,975 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.82M
$2.47M – $3.29M
NOI $197,463 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 94709, CA
12,514
Population
6,139
Households
2
Avg Household Size
29
Median Age
80%
College-Educated
96%
High-School Grad
0.7 sq mi
ZIP Area
17,877
Density / Sq Mi
$95,223
Median Household Income
$42,958
Median Earnings
$1,988
Median Rent
$1,240,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building six-unit property with a central courtyard and unit mix including 2-bedroom and 3-bedroom duplex units.
Where is this apartment building located?
The property is located at 2522 Hilgard Ave Berkeley, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Two‑building six‑unit multifamily property with a central courtyard on a large lot; Main building (1655 Euclid Ave) has four 2‑bedroom, 1‑bath units; Second building includes two duplex units at 2522 and 2524 Hilgard Ave
