Apartment Building Near UC
For Sale
$5,800,000
2701 Ridge, Berkeley, CA 94709
A varied apartment mix includes on-site laundry, shared outdoor space, and dedicated parking.
Property Size10,404 SF
Price / SF$557.48
Days on Market59
Property Features for 2701 Ridge
General Information
Standard status
Active
Size
10,404 SF
Total Parking Spaces
10
Property subtype
Residential Income
Site & Location
Neighborhood
Northside
Public Transit
Yes
Units
Unit Mix
3 x 1BR, 9 x 2BR
Multifamily Units
12
Amenities
on-site laundry
shared backyard
separately metered gas and electricity
double-pane windows
Building Details
Year Built
1959
Buildings
1
Listed By:
The Wiley Team
(415) 317-5888
Source:
Sanfranciscorealestategroup.idxbroker
Added: Sep 9
Changed: Nov 1
Last Checked: Nov 6 at 5:17AM
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 Wiley Team
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Investment Insights
Based on property information with market context.
This 12-unit apartment building, constructed in 1959, contains approximately 10,404 square feet and offers a mix of three one-bedroom and nine two-bedroom residences. Building features include on-site laundry, a shared backyard, double-pane windows, and separately metered gas and electricity. Ten parking spaces serve the property.
Nine apartments are currently vacant, and another unit is scheduled to become vacant. The existing vacancy supports a coordinated renovation and leasing plan without requiring extensive tenant disruption. The property is within walking distance of the UC Berkeley campus and near neighborhood restaurants, cafés, shopping, and public transportation in Berkeley’s Northside neighborhood.
Nine apartments are currently vacant, and another unit is scheduled to become vacant. The existing vacancy supports a coordinated renovation and leasing plan without requiring extensive tenant disruption. The property is within walking distance of the UC Berkeley campus and near neighborhood restaurants, cafés, shopping, and public transportation in Berkeley’s Northside neighborhood.
Key Highlights
- 12‑unit apartment building with approximately 10,404 square feet
- Unit mix includes three one‑bedroom units and nine two‑bedroom units
- Nine of 12 apartments are vacant; an additional unit is scheduled to become vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$206,789
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,135,780
$4.1M
Cap Rate 7%
$2,954,129
$3.0M
Cap Rate 9%
$2,297,656
$2.3M
Market Conditions
NOI Build-Up for 10,404 SF
Gross rent
$395.8K $38.04/SF
− Vacancy
−$19.8K −$1.90/SF
EGI
$376.0K $36.14/SF
− OpEx
−$169.2K −$16.26/SF
NOI
$206.8K $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 Rate 5%
$4,135,780
Cap Rate 7%
$2,954,129
Cap Rate 9%
$2,297,656
Alternative Uses
Best Use
Apartment 5plus
$2.95M
$2.58M – $3.45M
NOI $206,789 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.02M
$3.52M – $4.69M
NOI $281,657 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,800
Businesses Nearby
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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
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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 - A varied apartment mix includes on-site laundry, shared outdoor space, and dedicated parking.
Where is this apartment building located?
The property is located at 2701 Ridge Berkeley, CA.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 12‑unit apartment building with approximately 10,404 square feet; Unit mix includes three one‑bedroom units and nine two‑bedroom units; Nine of 12 apartments are vacant; an additional unit is scheduled to become vacant
