Berkeley Multifamily Building Near
2715 Benvenue Ave Berkeley, CA 94705
2715 Benvenue Ave, Berkeley, CA, 94705
$1,750,000
For Sale
$1,750,000
Six-unit apartment building near UC Berkeley with value-add potential.
Property Size5,511 SF
Lot Size0.17 Acres
Price / SF$317.55
Days on Market55
Property Features for 2715 Benvenue Ave
General Information
- Standard status
- Active
- Size
- 5,511 SF
- Lot size
- 0.17 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1935
Listing Agency
KELLER WILLIAMS REALTY
(925) 934-2900
Listed by
JOEY WANG · License #01890931
Source
Corcoran
Added: May 25 Checked: Jul 17 at 7:50 am
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
This is a six-unit apartment building constructed in 1935. The property is located one block from College Avenue, placing it minutes from UC Berkeley, Ashby BART, Rockridge, and the Claremont Hotel, with convenient access to Highways 13, 24, and 580. The building contains four 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, totaling 4,676 rentable square feet on a 7,400 square foot lot. Three units will be delivered vacant at closing. Units 3 and 4 are currently leased at $3,400. Unit 5 offers west-facing Bay views, while Unit 6 features south-facing city views. A new roof is planned for installation between 2024 and 2025. The property includes six on-site parking spaces that can be rented separately. This property is suited for a 1031 buyer or a local investor seeking Berkeley appreciation.
Key Highlights
- Three units delivered vacant at closing, allowing for immediate leasing and increased income.
- High market cap rate of 7.47% indicates strong investment potential.
- Prime location near UC Berkeley, Ashby BART, Rockridge, and major highways (13, 24, 580).
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $209.6k | $38.04 |
| − Vacancy | −$10.5k | −$1.90 |
| EGI | $199.2k | $36.14 |
| − OpEx | −$89.6k | −$16.26 |
| NOI | $109.5k | $19.88 |
5,511 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.37M – $1.83M
NOI $109,536 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.13M
$1.86M – $2.49M
NOI $149,194 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit apartment building near UC Berkeley with value-add potential.
Where is this apartment building located?
The property is located at 2715 Benvenue Ave Berkeley, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Three units delivered vacant at closing, allowing for immediate leasing and increased income.; High market cap rate of 7.47% indicates strong investment potential.; Prime location near UC Berkeley, Ashby BART, Rockridge, and major highways (13, 24, 580).
