Apartment Building Near
For Sale
Contact for pricing
2531 Benvenue Avenue, Berkeley, CA 94704
Residential income property near UC Berkeley with access to transit, dining, shopping, and campus amenities.
Property Size6,789 SF
Lot Size0.18 Acres
Price / SF$515.54
Days on Market17
Property Features for 2531 Benvenue Avenue
General Information
Standard status
Active
Size
6,789 SF
Lot size
0.18 Acres
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Building Details
Year Built
1897
Units
11
Listing Agency:
The Good Agent Team with Kat Sellis
Listed By:
Kat Sellis · License #01858561
Source:
Crexi
Added: Aug 20
Changed: Sep 3
Last Checked: Sep 3 at 2:13AM
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 Good Agent Team with Kat Sellis
Investment Insights
Based on property information with market context.
This apartment building at 2531 Benvenue Avenue includes approximately 6,789 square feet, 21 bedrooms, and 2 back units on a 7,791-square-foot lot. Built in 1897, the property is configured as a residential income asset near UC Berkeley.
The property is located three blocks from the university and provides access to Telegraph Avenue, downtown Berkeley, BART, restaurants, cafés, and shopping. Its proximity to campus places the building within an established university-oriented rental setting.
The property is located three blocks from the university and provides access to Telegraph Avenue, downtown Berkeley, BART, restaurants, cafés, and shopping. Its proximity to campus places the building within an established university-oriented rental setting.
Key Highlights
- Approximately 6,789 square feet on a 7,791‑square‑foot lot
- 21 bedrooms plus 2 back units
- Three blocks from UC Berkeley
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
$134,937
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
3.86%
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%
$2,698,740
$2.7M
Cap Rate 7%
$1,927,671
$1.9M
Cap Rate 9%
$1,499,300
$1.5M
Market Conditions
NOI Build-Up for 6,789 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
$258.3K $38.04/SF
− Vacancy
−$12.9K −$1.90/SF
EGI
$245.3K $36.14/SF
− OpEx
−$110.4K −$16.26/SF
NOI
$134.9K $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%
$2,698,740
Cap Rate 7%
$1,927,671
Cap Rate 9%
$1,499,300
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $134,937 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.63M
$2.30M – $3.06M
NOI $183,792 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,998
Businesses Nearby
Explore this area
Business Placement
Demographics for 94704, CA
25,259
Population
9,722
Households
2.6
Avg Household Size
26
Median Age
72%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
28,066
Density / Sq Mi
$52,105
Median Household Income
$17,509
Median Earnings
$1,987
Median Rent
$918,500
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 - Residential income property near UC Berkeley with access to transit, dining, shopping, and campus amenities.
Where is this apartment building located?
The property is located at 2531 Benvenue Avenue Berkeley, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Approximately 6,789 square feet on a 7,791‑square‑foot lot; 21 bedrooms plus 2 back units; Three blocks from UC Berkeley
