| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 78th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2002 Acton St, Berkeley, CA, 94702, US |
| Region / Metro | Berkeley |
| Year of Construction | 2003 |
| Units | 73 |
| Transaction Date | 2021-07-01 |
| Transaction Price | $25,300,000 |
| Buyer | AVANATH ACTON LP |
| Seller | EQR ACTON BERKELEY LIMITED PARTNERSHIP |
2002 Acton St Berkeley Multifamily Investment
This 73-unit property benefits from Berkeley's high rental demand and elevated median home values that keep potential buyers in the rental market. Neighborhood-level occupancy trends according to WDSuite's CRE market data indicate competitive positioning within the Oakland-Berkeley metro.
Built in 2003, this property represents newer construction compared to the neighborhood's 1940 average vintage, positioning the asset with reduced near-term capital expenditure needs and competitive appeal to tenants. The neighborhood ranks in the top quartile among 469 Oakland-Berkeley metro neighborhoods for amenities, with exceptional access to restaurants, parks, and childcare facilities that support tenant retention.
Demographics within a 3-mile radius show a stable renter base with 56.7% of households renting, well above national averages. The area's high concentration of educated professionals—34% hold bachelor's degrees—supports consistent rental demand. Median home values of $1.27 million create significant barriers to ownership, keeping qualified renters in the market longer.
Neighborhood-level median contract rents of $1,932 have increased 25% over five years, while the broader 3-mile area shows median rents of $2,122. Population growth of 3.3% over the past five years, with projected household growth of 40% through 2028, indicates expanding renter pool expansion that supports occupancy stability and potential rent growth.
The neighborhood's safety profile requires careful consideration, ranking 451st out of 469 Oakland-Berkeley metro neighborhoods for overall crime metrics, placing it in the bottom quartile regionally. Property offense rates and violent crime statistics indicate elevated security concerns compared to metro averages.
Recent trends show property offense rates increased 35% year-over-year, while violent crime rates rose 135%, suggesting deteriorating conditions that may impact tenant retention and require enhanced security measures. Investors should factor additional security costs and potential vacancy risk into underwriting assumptions.
The Berkeley location provides access to major Bay Area employers, with several Fortune 500 headquarters within commuting distance supporting workforce housing demand.
- Clorox — consumer products (4.6 miles) — HQ
- Gap — retail apparel (8.0 miles) — HQ
- Aig — insurance (8.0 miles)
- Salesforce.com — technology (8.0 miles) — HQ
- Charles Schwab — financial services (8.1 miles) — HQ
This Berkeley multifamily asset offers exposure to one of the Bay Area's strongest rental markets, with high barriers to homeownership and projected household growth supporting long-term demand fundamentals. The property's 2003 construction year provides competitive positioning relative to the neighborhood's aging housing stock, while proximity to major employers offers workforce housing appeal.
Demographic projections within a 3-mile radius indicate household growth of 40% through 2028, expanding the potential renter pool significantly. However, according to CRE market data from WDSuite, neighborhood-level occupancy has declined 5% over five years, and elevated crime metrics present ongoing management challenges that require careful consideration in investment planning.
- High rental demand supported by $1.27 million median home values creating ownership barriers
- Newer construction (2003) relative to neighborhood average provides competitive advantage
- Projected 40% household growth through 2028 indicates expanding renter base
- Proximity to major Bay Area employers supports workforce housing demand
- Risk consideration: Elevated crime rates and declining neighborhood occupancy trends require enhanced security planning