Rare 21-Unit Value-Add Opportunity in the Heart of Berkeley! Located just minutes from UC Berkeley, downtown Berkeley, and major East Bay transit, this 12,832 SF multifamily asset sits on a generous 0.35-acre lot and features a desirable unit mix of studios, one-bedrooms, and two-bedrooms. Current rents sit meaningfully below market, offering an investor significant upside through lease-up and operational optimization. Individually metered electric and gas, carport parking, recent seismic retrofit, and a low-turnover tenant base round out this well-positioned offering in one of the East Bay's most supply-constrained and durable rental markets. Priced at $4,495,000 ($214k/unit), don't miss this chance to acquire a well-located asset with huge upside potential.
Multi-familyProperty Type
1963Year Built
0.35 acresLot Size
$350Price/Sq.Ft.
10 spacesParking
Listed by Eymon Binesh•DRE #02060059• Marcus & Millichap
Panoramic Hill, located between UC Berkeley’s campus and the Claremont Canyon Regional Preserve, is a hillside and residential Berkeley neighborhood with winding stairways and Bay-view overlooks. The neighborhood’s character concentrates around the Panoramic Way and Canyon Road junction, where narrow lanes, stone retaining walls, and tucked-away paths set a quiet, elevated tempo. Early 20th-century cottages and shingled homes sit among dense gardens, with frequent glimpses of the Campanile and the Golden Gate. The UC Botanical Garden at Berkeley anchors the slope with curated landscapes and shaded trails. Nearby, the Greek Theatre and the Berkeley Art Museum and Pacific Film Archive add a cultural counterpoint to the calm streetscape. Foot travel often follows hidden steps and pedestrian cut-throughs rather than straight blocks.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Heating & cooling
Gas heating
Parking
10 parking spaces
Carport
Off-street parking
Construction
Two buildings
Concrete perimeter foundation
Rolled/hot mop roof
Utilities
Public utilities
Public water
Public sewer
Financial info
21 units in the community, with 20 leased
One 2-bedroom, 2-bath unit; rents range from $1,811 to $3,495
Four 2-bedroom, 1-bath units; rents range from $987 to $3,230
Twelve 1-bedroom, 1-bath units; rents range from $696 to $2,641
Four 1-bath units; rents range from $1,005 to $2,550
Month-to-month lease terms
Electricity and solar
View estimated energy costs and solar savings for this home
The specific purpose of the Environmental Safety-Residential district is to: Provide a means to implement the General Plan and the Hazard Mitigation Plan to reduce the potential for life loss, injury, and economic damage to Berkeley residents from earthquakes, wildfires, and landslides and to protect the City's unique character and values from being compromised by hazard events by reducing the vulnerability of one of the most unique and inaccessible neighborhoods in the Hill Hazardous Fire Area; Protect the lives and property of Panoramic Hill residents in Berkeley and adjoining parts of Oakland and avoid destruction or damage to the natural environment through the application of special development regulations and by ensuring that the review of new development and alterations or additions to existing structures will require analysis and mitigation of geologic, seismic, and fire hazards; Limit the uses of land permitted to those which are necessary to serve the housing and access needs of the district's inhabitants and will not put either current or future residents at risk due to the area's inadequate infrastructure and special vulnerability to natural hazards; Protect the health and safety of current and future residents by ensuring that no new dwelling units will be built and no land may be subdivided to allow the construction of additional dwelling units until plans are in place that identify the future distribution, location, and extent of development in the Berkeley and Oakland neighborhoods of Panoramic Hill, including provisions to develop and maintain a system of public facilities and services adequate to meet the needs of the future population; Establish procedures to ensure that the development review process provides for consideration of the cumulative impact of new construction, alterations, and changes in use that have the potential to increase the population or intensify the use of land in the district together with the impacts of other projects on Panoramic Hill and within adjacent areas of Berkeley and Oakland; Restrict the size and occupancy of residential structures by imposing standards that reflect the district's limited capacity to accommodate additional population due to poor access, inadequate infrastructure, vulnerability to natural hazards and the fact that a majority of the existing development does not conform to standards that the City adopted in 1979; Assure the effective use of emergency measures available to save lives and property; Give reasonable protection to views and privacy, yet allow appropriate development of all property as long as public services and access are adequate to ensure protection of the health and safety of residents in this vulnerable area; and Protect the integrity of the Panoramic Hill Historic District by ensuring that alterations to existing buildings and new construction maintain the existing pattern of development, are appropriate to the hillside setting, and do not impair the architectural significance of contributing structures.
Permitted uses
Include but are not limited to:
Agriculture-Other
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
3/10 Fire Factor
0.46% chance of being in a wildfire in next 30 years
2/10 Heat Factor
5 days above 86° expected this year, 11 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
8/10 Air Factor
14 unhealthy days expected this year, 15 days in 30 years
Provided by First Street
Historical weather
Berkeley, CA • 94703
Average low and high temperatures (°F)
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Sun exposure
55/ 100
Moderate sunlight
Sunscore
There appears to be some shading by surrounding buildings, terrain, and vegetation.
5.1 hrs
3.2 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for Dwight
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