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2319 Ward St 4 Unit Apartment Building $950,000 ($237,500/Unit) 4.15% Cap Rate Berkeley, CA 94705
INVESTMENT HIGHLIGHTS
- Located near south UC Berkeley Campus.
- SB 721 Compliant
- 2 units will be delivered vacant.
EXECUTIVE SUMMARY
2319 Ward Street is a two-story 4-plex located just blocks away from the south UC Berkeley campus, making it a prime asset for investors targeting steady student and professional demand. The property sits just off Shattuck Avenue, and Downtown Berkeley and the BART station are both under one mile away, offering excellent connectivity and long-term desirability.
The building features (4) large 1-bedroom, 1-bath units with tall ceilings, creating bright and open interiors that stand out in the Berkeley rental market. Two units will be delivered vacant, allowing an investor to immediately capture market rents or execute light value-add strategies without delay.
Recent upgrades include newer exterior walkways that have been inspected and are SB 721 compliant, reducing future capital exposure. Tenants also benefit from a common outdoor area and an on-site laundry room with one washer and one dryer, supporting convenience and retention.
A standout feature is that each unit includes its own private storage space—roughly the size of a small garage, a rare amenity in this location. The property is also separately metered for PG&E, helping investors maintain efficient and predictable operating expenses.
The building features (4) large 1-bedroom, 1-bath units with tall ceilings, creating bright and open interiors that stand out in the Berkeley rental market. Two units will be delivered vacant, allowing an investor to immediately capture market rents or execute light value-add strategies without delay.
Recent upgrades include newer exterior walkways that have been inspected and are SB 721 compliant, reducing future capital exposure. Tenants also benefit from a common outdoor area and an on-site laundry room with one washer and one dryer, supporting convenience and retention.
A standout feature is that each unit includes its own private storage space—roughly the size of a small garage, a rare amenity in this location. The property is also separately metered for PG&E, helping investors maintain efficient and predictable operating expenses.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$74,988
|
$29.09
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,250
|
$0.87
|
| Effective Gross Income |
$72,738
|
$28.21
|
| Taxes |
$11,707
|
$4.54
|
| Operating Expenses |
$21,631
|
$8.39
|
| Total Expenses |
$33,338
|
$12.93
|
| Net Operating Income |
$39,400
|
$15.28
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $74,988 |
| Annual Per SF | $29.09 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,250 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $72,738 |
| Annual Per SF | $28.21 |
| Taxes | |
|---|---|
| Annual | $11,707 |
| Annual Per SF | $4.54 |
| Operating Expenses | |
|---|---|
| Annual | $21,631 |
| Annual Per SF | $8.39 |
| Total Expenses | |
|---|---|
| Annual | $33,338 |
| Annual Per SF | $12.93 |
| Net Operating Income | |
|---|---|
| Annual | $39,400 |
| Annual Per SF | $15.28 |
PROPERTY FACTS
| Price | $950,000 | Apartment Style | Garden |
| Price Per Unit | $237,500 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 2,578 SF |
| Cap Rate | 4.15% | Average Occupancy | 50% |
| Gross Rent Multiplier | 12.67 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1908/1950 |
| Property Type | Multifamily | Parking Ratio | 0.78/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R2 | ||
| Price | $950,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 4.15% |
| Gross Rent Multiplier | 12.67 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.11 AC |
| Building Size | 2,578 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built/Renovated | 1908/1950 |
| Parking Ratio | 0.78/1,000 SF |
| Zoning | R2 |
AMENITIES
UNIT AMENITIES
- Ceiling Fans
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,381 | 640 |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 054-1715-013-00 | Total Assessment | $760,898 |
| Land Assessment | $228,269 | Annual Taxes | $11,707 ($4.54/SF) |
| Improvements Assessment | $532,629 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
054-1715-013-00
Land Assessment
$228,269
Improvements Assessment
$532,629
Total Assessment
$760,898
Annual Taxes
$11,707 ($4.54/SF)
Tax Year
2025
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2319 Ward St
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