| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 78th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2101 Milvia St, Berkeley, CA, 94704, US |
| Region / Metro | Berkeley |
| Year of Construction | 2003 |
| Units | 27 |
| Transaction Date | 2019-09-16 |
| Transaction Price | $13,952,000 |
| Buyer | STERLING BERKELEY ADDISON LP |
| Seller | EQR ARTECH BERKELEY LIMITED PARTNERSHIP |
2101 Milvia St, Berkeley Multifamily Investment Opportunity
Neighborhood data point to a deep renter base and strong urban amenities supporting demand, even as occupancy has shown variability, according to WDSuite’s CRE market data. Elevated ownership costs in Berkeley further sustain reliance on rental housing in this Urban Core location.
Positioned in Berkeley’s Urban Core, the property benefits from an amenities-rich setting: grocery, cafes, restaurants, parks, and pharmacies rank near the top of the metro, and the neighborhood’s average school rating is strong relative to national benchmarks. The neighborhood holds an A rating and ranks 20 out of 469 metro neighborhoods, signaling top-tier local positioning while also landing in the top quartile nationally on multiple amenity measures.
Renter concentration is high at the neighborhood level (renter-occupied share ranks near the top of the metro), which supports a deeper tenant base for multifamily assets and can aid leasing stability. While the neighborhood’s occupancy stands below the metro median (rank 450 of 469; national percentile 37), demand is underpinned by a large pool of renters and a services-rich environment. Median home values in the neighborhood are elevated versus national norms, which tends to keep many households in the rental market and can support pricing power when managed alongside lease retention goals.
The asset’s 2003 construction is newer than the neighborhood’s older housing stock (average vintage 1940). That relative youth offers competitive positioning against pre-war inventory, though investors should plan for mid-life system updates and selective modernization to meet current renter expectations.
Demographic trends within a 3-mile radius indicate population growth in recent years with additional increases projected through 2028, alongside rising household counts and income growth. These dynamics point to a larger tenant base over time, supporting occupancy stability and potential rent durability as households continue to rely on professionally managed rental options.
Safety indicators for the neighborhood trail both metro and national benchmarks. The area ranks 451 out of 469 metro neighborhoods for overall crime, and national percentiles for violent and property offenses are low (violent offense near the bottom decile nationally). This context suggests investors should underwrite to enhanced on-site security, lighting, and access controls, and weigh operational practices that support resident comfort and retention.
While crime levels can vary block to block and evolve over time, trend monitoring and partnership with local property management and community resources can help mitigate risk and sustain leasing performance relative to comparable Urban Core locations.
Nearby corporate offices broaden the white-collar employment base and support renter demand through commute convenience, including Clorox, Gap, AIG, Salesforce, and Charles Schwab.
- Clorox — consumer products HQ (4.6 miles) — HQ
- Gap — apparel retail corporate offices (8.6 miles) — HQ
- Aig — insurance offices (8.6 miles)
- Salesforce.com — enterprise software (8.6 miles) — HQ
- Charles Schwab — financial services (8.7 miles) — HQ
This 27-unit, 2003-vintage asset sits in a top-ranked Berkeley neighborhood with exceptional amenity access and a deep renter pool, supporting a durable demand profile. Although neighborhood occupancy reads below the metro median, elevated ownership costs and strong services access help sustain leasing activity relative to comparable Urban Core locations, based on CRE market data from WDSuite.
Newer vintage versus the local housing stock provides competitive positioning with potential to capture renter preference through targeted renovations and mid-life system updates. Within a 3-mile radius, population and household growth, coupled with rising incomes, point to a larger tenant base over the next cycle—favorable for retention and rent management when balanced against affordability pressure.
- Amenity-rich, A-rated neighborhood ranked 20 of 469 in the metro supports leasing fundamentals.
- High renter-occupied share at the neighborhood level deepens the tenant base and underpins demand.
- 2003 vintage offers relative competitiveness vs. older stock, with value-add via selective modernization.
- 3-mile demographics indicate population and household growth, supporting occupancy stability and rent durability.
- Risks: below-metro occupancy and area safety require prudent underwriting, security measures, and active lease management.