13-Unit Apartment
New
For Sale
$4,850,000
2607 Ellsworth Street, Berkeley, CA 94704
Multifamily property near UC Berkeley with private balconies, rooftop decks, parking, and on-site laundry.
Property Size11,150 SF
Days on Market6
Property Features for 2607 Ellsworth Street
General Information
Standard status
Active
Size
11,150 SF
Property subtype
Multifamily
Units
Unit Mix
12 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
13
Amenities
on site laundry
phone key in system
oversized private balconies
private rooftop decks
fireplace
washer/dryer
Building Details
Building Size
11,150 SF
Units
13
Listing Agency:
NAI Northern California
Listed By:
Grant Chappell · License #CalDRE #01700439
(415) 246-4314
Source:
Nainorcal
Added: Sep 12
Last Checked: Sep 16 at 4:35PM
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 NAI Northern California
Investment Insights
Based on property information with market context.
This 13-unit apartment property in Berkeley includes 12 two-bedroom, one-bath units and one one-bedroom, one-bath unit. Property features include private balconies, on-site laundry, a phone-operated entry system, and parking. The uppermost two-bedroom residence has been fully remodeled and includes an in-unit washer and dryer and a fireplace. Two private rooftop decks provide views toward the Bay, San Francisco skyline, and Berkeley Hills.
The property is located six blocks from UC Berkeley and 0.7 miles from campus, near Telegraph Avenue. Building improvements include new electrical service and a newer roof. The property is E3 compliant and exempt from soft-story requirements. The two-bedroom layouts may support reconfiguration into three-bedroom units, subject to applicable approvals.
The property is located six blocks from UC Berkeley and 0.7 miles from campus, near Telegraph Avenue. Building improvements include new electrical service and a newer roof. The property is E3 compliant and exempt from soft-story requirements. The two-bedroom layouts may support reconfiguration into three-bedroom units, subject to applicable approvals.
Key Highlights
- 13 units: 12 two‑bedroom/one‑bath units and 1 one‑bedroom/one‑bath unit
- Six blocks from UC Berkeley and 0.7 miles from campus
- Two private rooftop decks with Bay, San Francisco skyline, and Berkeley Hills views
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
$221,616
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
4.57%
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%
$4,432,320
$4.4M
Cap Rate 7%
$3,165,943
$3.2M
Cap Rate 9%
$2,462,400
$2.5M
Market Conditions
NOI Build-Up for 11,150 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
$424.1K $38.04/SF
− Vacancy
−$21.2K −$1.90/SF
EGI
$402.9K $36.14/SF
− OpEx
−$181.3K −$16.26/SF
NOI
$221.6K $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%
$4,432,320
Cap Rate 7%
$3,165,943
Cap Rate 9%
$2,462,400
Alternative Uses
Best Use
Apartment 5plus
$3.17M
$2.77M – $3.69M
NOI $221,616 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.31M
$3.77M – $5.03M
NOI $301,853 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
6,261
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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property near UC Berkeley with private balconies, rooftop decks, parking, and on-site laundry.
Where is this apartment building located?
The property is located at 2607 Ellsworth Street Berkeley, CA.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: 13 units: 12 two‑bedroom/one‑bath units and 1 one‑bedroom/one‑bath unit; Six blocks from UC Berkeley and 0.7 miles from campus; Two private rooftop decks with Bay, San Francisco skyline, and Berkeley Hills views
