2172 Blake St - Apartments FOR SALE


Berkeley, CA 94704- South Berkeley
$2,700,000 USD
2172 Blake St, Berkeley, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/15
null | 5.6% Cap Rate

2172 Blake St
Berkeley, CA 94704
South Berkeley


HIGHLIGHTS

  • This 10-unit building offers a strong foundation with a clean, well-maintained structure and a unit mix of (2) 1BDs and (8) 2BDs across 6,902 sq ft.
  • Current 2BD rents average $2,300–$2,500/month, leaving clear room to grow toward ~$3,000+ market levels.
  • Just four blocks from UC Berkeley and half a block off Shattuck Ave, 2172 Blake St is positioned in one of South Berkeley’s most reliable locations.

OVERVIEW

Just four blocks from UC Berkeley and half a block off Shattuck Ave, 2172 Blake St is positioned in one of South Berkeley’s most reliable rental locations, where proximity continues to drive demand year after year. This 10-unit building offers a strong foundation with a clean, well-maintained structure and a unit mix of (2) 1BDs and (8) 2BDs across 6,902 sq ft. Current 2BD rents average $2,300–$2,500/month, leaving clear room to grow toward ~$3,000+ market levels. Several units feature oversized living rooms that may be reconfigured into additional bedrooms to better capture student demand. The building has been seismically retrofitted and is no longer on Berkeley’s soft story list, and includes gated entry, 10 parking spaces, 11 storage closets, and onsite laundry. With transit, dining, and campus just minutes away, this is a stabilized asset with meaningful upside in both income and long-term value. TRANSPARENT PRICE. Unit 7 is vacant and can be shown via Calendly. Contact Joey at joey.wang@loremultifamily.com with questions. For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/ Offers are due on Friday, May 8th at noon. Disclaimer: The photos in this listing have been digitally enhanced.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

10

PRICE/UNIT

$270,000

CAP RATE

5.6%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

WM. Penn Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,140 SF

ZONING

-

APN/PARCEL ID

055-1824-023-00

ASK ABOUT THIS PROPERTY

Joey WangKW CommercialMore Info

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