Berkeley Multifamily Investment
For Sale
$4,628,000
2801 College Avenue, Berkeley, CA 94705
21-unit apartment community in Berkeley's Elmwood neighborhood.
Property Size10,358 SF
Price / SF$446.80
Days on Market256
Property Features for 2801 College Avenue
General Information
Standard status
Active
Size
10,358 SF
Property subtype
Commercial
Amenities
Coin Operated Laundry
Electric Heating
Off Street Parking
Rolled Composition Roof
Building Details
Year Built
1957
Listing Agency:
MARCUS & MILLICHAP
(650) 391-1700
Listed By:
EYMON BINESH · License #(S):CA:02060059
(650) 546-1030
Source:
Corcoran
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 25 at 9:59AM
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 MARCUS & MILLICHAP
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Investment Insights
Based on property information with market context.
This 21-unit apartment community is located on College Avenue in Berkeley. Situated in the Elmwood neighborhood, the property is near the Claremont Hotel and the University of California, Berkeley. Residents have walkable access to Whole Foods Market and various dining, retail, and entertainment options along College Avenue. The property offers a stable, income-oriented investment in one of the Bay Area's established rental corridors.
Key Highlights
- Exceptional location in Berkeley's highly coveted Elmwood neighborhood, near the Claremont Hotel and UC Berkeley.
- Stable, income‑oriented investment with a 5.33% in‑place cap rate and upside to over 7%.
- Durable cash flow, strong fundamentals, and long‑term downside protection.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$205,875
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,117,500
$4.1M
Cap Rate 7%
$2,941,071
$2.9M
Cap Rate 9%
$2,287,500
$2.3M
Market Conditions
NOI Build-Up for 10,358 SF
Gross rent
$394.0K $38.04/SF
− Vacancy
−$19.7K −$1.90/SF
EGI
$374.3K $36.14/SF
− OpEx
−$168.4K −$16.26/SF
NOI
$205.9K $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%
$4,117,500
Cap Rate 7%
$2,941,071
Cap Rate 9%
$2,287,500
Alternative Uses
Best Use
Apartment 5plus
$2.94M
$2.57M – $3.43M
NOI $205,875 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.01M
$3.51M – $4.67M
NOI $280,412 @ 7.0% cap · market cap 6.06%
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
3,451
Businesses Nearby
Explore this area
Business Placement
Demographics for 94705, CA
13,591
Population
6,335
Households
2.1
Avg Household Size
42
Median Age
79%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
3,997
Density / Sq Mi
$163,254
Median Household Income
$75,864
Median Earnings
$2,330
Median Rent
$1,892,300
Median Home Value
Check the figures for this property
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 - 21-unit apartment community in Berkeley's Elmwood neighborhood.
Where is this apartment building located?
The property is located at 2801 College Avenue Berkeley, CA.
What is the asking price?
The asking price for this property is $4,628,000.
What are key features of this property?
This property features: Exceptional location in Berkeley's highly coveted Elmwood neighborhood, near the Claremont Hotel and UC Berkeley.; Stable, income‑oriented investment with a **5.33% in‑place cap rate and upside to over 7%**.; Durable cash flow, strong fundamentals, and long‑term downside protection.
