UC Berkley Adjacent Trophy 9 Unit Opportunity 2500 Dana St 9 Unit Apartment Building $4,883,200 CAD ($542,578 CAD/Unit) 4.73% Cap Rate Berkeley, CA 94704

The Ovaness Rostamian Group of Marcus & Millichap is pleased to present 2500 Dana Street Apartments, a rare nine-unit multifamily opportunity located just one block from the world-renowned University of California, Berkeley. This ±6,296 square foot property delivers a compelling investment profile with immediate cash flow and significant upside potential through rental increases, parking fees, and laundry income. Positioned in the heart of one of the Bay Area’s most supply-constrained and rent-competitive markets, this asset offers investors a resilient foothold in a location where demand is driven by over 45,000 students and 1,600 full-time faculty members — the vast majority of whom seek housing off-campus.
Located just half a block from the iconic Telegraph Avenue corridor—home to an eclectic mix of shops, cafés, bookstores, and record stores—2500 Dana is a true trophy property. The unit mix of five upgraded one-bedrooms and four large two-bedrooms caters directly to the dominant renter demographics in Berkeley — students, young professionals, and university staff. Each unit has been thoughtfully renovated with modern finishes and high-quality materials, ensuring the property remains competitive in a submarket known for high rental standards and low inventory turnover. Recent capital improvements include extensive earthquake retrofitting and exterior upgrades, further enhancing the long-term durability and appeal of the asset. Covered off-street parking, a prized amenity in Berkeley, is available for all units, supporting premium rental rates and high tenant retention.
Berkeley is one of the East Bay’s most active and resilient multifamily submarkets, with average rents among the highest in the region and consistently low vacancy driven by institutional demand. As of Q4 2024, cap rates in Berkeley have approached five percent — a rare window for entry in a historically tight investment environment. The neighborhood’s walkability, vibrant food and arts scenes, and proximity to transit — including BART and major freeways — further amplify its appeal. Located near key destinations such as the 4th Street shopping district and North Berkeley BART, the area offers a lifestyle that attracts both students and working professionals, creating long-term leasing stability.
With limited new housing supply, a strong academic anchor, and market fundamentals that support sustained rent growth, 2500 Dana Street represents a best-in-class multifamily asset in one of California’s most coveted rental corridors. Investors will benefit from a combination of stable occupancy, operational upside, and long-term capital appreciation in a city that continues to outperform broader regional trends. This is a rare opportunity to own a truly exceptional property steps from campus in the core of a fundamentally strong and culturally dynamic urban market.