2466 Virginia Street 2466 Virginia St 18 Unit Dormitory $4,000,000 ($222,222/Unit) 6.16% Cap Rate Berkeley, CA 94709

The Bay Consulting Group (BCG Multifamily) of Marcus & Millichap is proud to present
2466 Virginia Street, a well maintained 18-unit multifamily asset located just blocks from
the University of California, Berkeley. Originally constructed in 1929, this three-story
building spans approximately 13,296 square feet and sits on a 6,250 square foot lot. The
property showcases classic early twentieth century architectural character, including a
textured stucco façade, bay window detailing, and a tiled roofline that reflects Berkeley’s
historic charm. The unit mix consists of three studios and fifteen one-bedroom, one bathroom
apartments.
Situated in Berkeley’s highly desirable North Berkeley neighborhood, the property offers
immediate access to campus, Cal Memorial Stadium, and the retail and dining amenities
of Downtown Berkeley. The Downtown Berkeley BART Plaza is nearby, providing direct
connectivity to San Francisco, Oakland, and the greater Bay Area employment centers.
The surrounding streetscape is defined by mature trees, established landscaping, and a
collection of well-preserved residential buildings that give the neighborhood its distinct
identity. This location continues to draw steady rental demand from students, faculty, and
professionals who value walkability, transit access, and proximity to one of the country’s
leading public universities.
Since 2017, ownership has invested over One Million Dollars in capital improvements,
materially strengthening the property’s infrastructure and overall condition.
Improvements include boiler replacement, roof restoration, full window replacement,
driveway reconstruction, exterior repainting, installation of a keypad access system,
surveillance cameras, new electrical panels, new plumbing upgrades (old pipes
still are present) and various interior upgrades such as new flooring and paint. These
improvements have addressed major systems and reduced deferred maintenance,
allowing a new owner to focus on operations and leasing. The property will be delivered
fully vacant, providing an investor with the rare opportunity to reposition the asset and
establish rents at current market levels from day one. In doing so, this offering represents
the acquisition of a legacy North Berkeley asset with both stability and meaningful upside
potential.