2218 & 2222 Grant St
2218 Grant St, Berkeley, CA 94703
Marketing description
2218 & 2222 Grant Street consists of 2 vacant homes on 9,980 sq ft of land in an R-2 zone. In order to address local and state mandated housing requirements, this represents the perfect solution for a rising modern living solution. The site is eligible for significant new density under Berkeley's recently passed Middle Housing Ordinance and when coupled with density bonus and proximity to mass transit per California State Law - SB 79 a Developer could build up to 6 stories without any parking. There are no parking requirements for this site, as it is 5 short blocks to UC Berkeley, 2 blocks from the Berkeley Police Station, 2 blocks from Traders Joes, 2 blocks from the Main Street downtown shops and eateries, and public transportation (BART). This site is currently untitled and provides a developer to design a project that takes advantage of Berkeley's recent changes in zoning - voted and passed by the Berkeley City Council that changed Berkeley's restrictive local zoning and the State of California's new Transit Law SB 79 which goes into effect July 1, 2026 and allows up to 6 stories. This legislation unlocks ministerial approval and unprecedented density for projects like this one, within 1/2 mile of major transit - BART. Modular construction will cut costs - by 1/2 or more and can be built faster. This modern living solution will be realized by utilizing and delivering the use of modular construction.
Investment highlights
- Prime Central Berkeley Location
- SB 79 Compliant - Up to 6 Stories | No Parking Required - Streamlined Approvals
- Modular Construction Advantage | 30-40% Faster - Lower Risk - Higher Quality
- High-Demand Rental Market | Ideal for Student & Workforce Housing
- Strong Financial Returns | Target NOI: $650K-$750K - Value: $18M-$22M+
- Speed-to-market advantage - Deliver units 12-24 months ahead of traditional projects
- Pre-SB 79 pricing - Market has not fully priced in density + modular upside
- Modular cost edge - Lower total development cost per unit
- Student housing - UC Berkeley demand is permanent and growing
- No parking burden - Eliminates $30K-$50K/unit cost
- Scalable prototype - Repeatable modular design -> portfolio expansion potential
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