Multifamily
Dana Street Apartments
2500 Dana St, Berkeley, CA 94704
Listing Price: $3,500,000
Investment Overview
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 42,000 students and 1,600 full-time faculty members — the vast majority of whom seek housing off-campus.
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 that the property remains competitive in a submarket known for its high rental standards and low inventory turnover. Covered off-street parking, a prized amenity in Berkeley, is available for all units, enhancing tenant retention and supporting premium rental rates.
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 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 high-performing property in the core of a fundamentally strong and culturally dynamic urban market.
Dana Street Apartments
Investment Highlights
- Prime Location–Just One Block from UC Berkeley – Steps from One of the World's Top Public Universities, this Asset Benefits from Year-Round Demand from 42,000+ Students and 1,600+ Full-Time Faculty.
- Excellent Southside Berkeley Neighborhood–A Dense, Walkable Urban Enclave with Top-Rated Public Schools, Thriving Local Businesses, and Immediate Access to Education, Culture, and Outdoor Attractions.
- Strong Demographics & Economic Drivers–Average Household Income Over $158,000 within Five Miles; Growing Base of Tech Professionals, Academics, and Graduate Students Ensures Stable, Educated Tenancy.
- High Appreciation & Rent Growth Potential – Supply-Constrained, High-Barrier-to-Entry Market with Strict Zoning and Limited Development, Supporting Long-Term Rent and Asset Value Growth. Strong Demographics & Economic Drivers The Average Household Income within a Five-Mile Radius Exceeds $158,000, Supporting Strong Consumer Spending and High Renter Affordability. The Population Includes a Growing Number of Tech Professionals, Academics, and Graduate Students, Offering a Stable and Educated Tenan
- Soft Story Seismic Retrofit Completed – Fully Compliant with Berkeley's Mandatory Retrofit Ordinance, Reducing Seismic Risk and Protecting Long-Term Investment. | $500,000+ in Capital Improvements – Recent Upgrades Include Roof, Walkways, Balconies, Staircases, and Refreshed Exterior—Lowering Maintenance and Boosting Curb Appeal.
- Walker's Paradise – Walk Score 97 – Ideally Located Three Blocks to Downtown Berkeley, One Block to Telegraph Avenue, and Four Blocks to Campus, Surrounded by Restaurants, Shops, and Key Amenities. | Transit-Rich Location with Regional Connectivity – Immediate Access to AC Transit, BART, and Highway 580, Providing Seamless Transit to San Francisco, Oakland, and the Broader East Bay.
- Berkeley Rental Market Resilience – Q4 2024: Vacancy Dropped 250+ bps, Cap Rates Trending Toward 5 Percent. Berkeley Continues to Lead East Bay in Rental Performance, Driven by UC Demand and Constrained Supply.
- Tenant Demand Outpaces Supply – With ~7,000 Campus Beds Vs. 18,000+ Rental Units Citywide, the Market Remains Underbuilt, Ensuring Continued Rent Pressure and High Occupancy.
Exclusively Listed By
Listing Price: $3,500,000
Investment Highlights
- Prime Location–Just One Block from UC Berkeley – Steps from One of the World's Top Public Universities, this Asset Benefits from Year-Round Demand from 42,000+ Students and 1,600+ Full-Time Faculty.
- Excellent Southside Berkeley Neighborhood–A Dense, Walkable Urban Enclave with Top-Rated Public Schools, Thriving Local Businesses, and Immediate Access to Education, Culture, and Outdoor Attractions.
- Strong Demographics & Economic Drivers–Average Household Income Over $158,000 within Five Miles; Growing Base of Tech Professionals, Academics, and Graduate Students Ensures Stable, Educated Tenancy.
- High Appreciation & Rent Growth Potential – Supply-Constrained, High-Barrier-to-Entry Market with Strict Zoning and Limited Development, Supporting Long-Term Rent and Asset Value Growth. Strong Demographics & Economic Drivers The Average Household Income within a Five-Mile Radius Exceeds $158,000, Supporting Strong Consumer Spending and High Renter Affordability. The Population Includes a Growing Number of Tech Professionals, Academics, and Graduate Students, Offering a Stable and Educated Tenan
- Soft Story Seismic Retrofit Completed – Fully Compliant with Berkeley's Mandatory Retrofit Ordinance, Reducing Seismic Risk and Protecting Long-Term Investment. | $500,000+ in Capital Improvements – Recent Upgrades Include Roof, Walkways, Balconies, Staircases, and Refreshed Exterior—Lowering Maintenance and Boosting Curb Appeal.
- Walker's Paradise – Walk Score 97 – Ideally Located Three Blocks to Downtown Berkeley, One Block to Telegraph Avenue, and Four Blocks to Campus, Surrounded by Restaurants, Shops, and Key Amenities. | Transit-Rich Location with Regional Connectivity – Immediate Access to AC Transit, BART, and Highway 580, Providing Seamless Transit to San Francisco, Oakland, and the Broader East Bay.
- Berkeley Rental Market Resilience – Q4 2024: Vacancy Dropped 250+ bps, Cap Rates Trending Toward 5 Percent. Berkeley Continues to Lead East Bay in Rental Performance, Driven by UC Demand and Constrained Supply.
- Tenant Demand Outpaces Supply – With ~7,000 Campus Beds Vs. 18,000+ Rental Units Citywide, the Market Remains Underbuilt, Ensuring Continued Rent Pressure and High Occupancy.
Investment Overview
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 42,000 students and 1,600 full-time faculty members — the vast majority of whom seek housing off-campus. 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 that the property remains competitive in a submarket known for its high rental standards and low inventory turnover. Covered off-street parking, a prized amenity in Berkeley, is available for all units, enhancing tenant retention and supporting premium rental rates. 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 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 high-performing property in the core of a fundamentally strong and culturally dynamic urban market.
Exclusively Listed By
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