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2801 College Ave 21 Unit Apartment Building $6,344,016 CAD ($302,096 CAD/Unit) 5.60% Cap Rate Berkeley, CA 94705
Executive Summary
Marcus & Millichap is pleased to present 2801 College Avenue, a well-located 21-unit apartment community in Berkeley offering a stable, income-oriented investment in one of the Bay Area's most established rental corridors. The property is priced at a 5.6% in-place cap rate with upside to north of a 7%, and at just $220,000 per unit, providing durable cash flow, strong fundamentals, and long-term downside protection. 2801 College Ave benefits from an exceptional location in Berkeley's highly coveted Elmwood neighborhood, bordering the iconic Claremont Hotel and just minutes from University of California, Berkeley. Residents enjoy walkable access to Whole Foods Market and the full array of dining, retail, and entertainment along College Avenue, making this a premier, lifestyle-oriented rental location with enduring demand.
Property Facts
| Price | $6,344,016 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $302,096 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.60% | Building Size | 10,358 SF |
| Gross Rent Multiplier | 10.28 | Average Occupancy | 100% |
| No. Units | 21 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Zoning | R-2A - Multifamily Residential. | ||
| Price | $6,344,016 CAD |
| Price Per Unit | $302,096 CAD |
| Sale Type | Investment |
| Cap Rate | 5.60% |
| Gross Rent Multiplier | 10.28 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,358 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1957 |
| Parking Ratio | 0.29/1,000 SF |
| Zoning | R-2A - Multifamily Residential. |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | 350 - 450 |
| 1+1 | 13 | - | 475 - 575 |
| 2+1 | 1 | - | 550 |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 053-1696-001-00 | Improvements Assessment | $3,169,451 CAD |
| Land Assessment | $1,000,435 CAD | Total Assessment | $4,169,886 CAD |
Property Taxes
Parcel Number
053-1696-001-00
Land Assessment
$1,000,435 CAD
Improvements Assessment
$3,169,451 CAD
Total Assessment
$4,169,886 CAD
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2801 College Ave
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