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2231-2233 Grant St 22 Unit Apartment Building $5,328,000 ($242,182/Unit) 5.50% Cap Rate Berkeley, CA 94703
Executive Summary
Marcus & Millichap is pleased to present 2231 Grant Street, a well-located 22-unit apartment community in Berkeley featuring a strong mix of spacious two-bedroom, one-bedroom, and studio floor plans. Situated in a highly desirable rental market with consistent demand, the property benefits from strong fundamentals, proximity to major employers and transit, and easy access to downtown Berkeley, UC Berkeley, and neighborhood retail. The property offers a 5.50% in-place cap-rate with upside to an estimated 9% return, combined with an exceptionally low price per unit, presenting a rare value-add opportunity in one of the Bay Area's most supply-constrained rental markets.
Property Facts
| Price | $5,328,000 | Apartment Style | Low-Rise |
| Price Per Unit | $242,182 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 5.50% | Building Size | 16,733 SF |
| Gross Rent Multiplier | 10.49 | Average Occupancy | 100% |
| No. Units | 22 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 0.84/1,000 SF |
| Price | $5,328,000 |
| Price Per Unit | $242,182 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 10.49 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 16,733 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 0.84/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Disposal
- Microwave
- Heating
- Kitchen
- Range
- Tub/Shower
- Breakfast Nook
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Bicycle Storage
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 675 |
| 1+1 | 11 | - | 995 |
| 2+1 | 8 | - | 1,300 |
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Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (70)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 057-2014-019-01 | Improvements Assessment | $3,432,272 |
| Land Assessment | $1,911,788 | Total Assessment | $5,344,060 |
Property Taxes
Parcel Number
057-2014-019-01
Land Assessment
$1,911,788
Improvements Assessment
$3,432,272
Total Assessment
$5,344,060
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2231-2233 Grant St
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