Apartment Building Near
For Sale
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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 Market63
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: Oct 10
Last Checked: Oct 20 at 8:35PM
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
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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 / Yr
$134,937
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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
