951 University Avenue

Berkeley, CA, 94710

$4,515,000

$464 per ft²
$4,515,000
$464 per ft²
Sold
Sold
beds
18 Beds
carpenters-square
9,722 ft²
property_type
Townhouse
calendar
Built 1954
University Terrace is a beautifully renovated 10-unit apartmentcomplex located in NW Berkeley 4 blocksfrom 4th St, one of the most highly sought after retail corridors on the West Coast. Located at 933-951 University Ave the building is 9,722 SF is on a 10,200 SF lot On University Ave between 8th St & 9th St. The property is comprised of 8 X 2-bed townhome units and 2 X 1-bedroom units that are all individually metered for water/sewer, gas & electric leaving few operating expenses for the owner to pay for. The property just underwent a beautiful & extensive exterior & interior renovation. 6 of 10 of the units have been renovated down to the studs with high-end, condo-quality finishes. The six renovated units were recently put on the market for rent & were all leased within approximately 1 week at an avg. rent of $3,862 with no concessions offered. With the achieved rents, the in-place CAP rate is at 5.04% and there are still 4 unrenovated units providing further upside potential.
MLS® ID:
422680865
Listed:
7/20/22
Updated:
9/24/22

Interior Features

Kitchen Appliances
Dishwasher, Disposal, Free-Standing Freezer, Free-Standing Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Water Heater, Microwave, Self Cleaning Oven
Total Bedrooms
18
Total Bathrooms
0
Laundry Description
In Unit
Floor Description
Vinyl, Other
Cooling
None
Heating
Gas, Wall Furnace

Exterior/Building Features

Lot Size
10,201 ft² lot
Exterior Features
Enclosed Patio, Uncovered Patio
Lot Details
Curbs/Gutters, Shape Regular, Sidewalk
Roof
Composition, Shingle
Sewer
Public Sewer

Other Property Details

Area Name
Berkeley Map Area 10
Garage
Yes
Parking
Attached, Garage, Uncovered
Parking Total
16.0
View
N
County
Alameda
Water Source
Separate Meter, Public
Pool
No
Total Stories
2

Property History

Date
Event
Price
Value
9/1/22
Sold
-
-
9/1/22
Price Change
$4,515,000
-1%
8/24/22
Pending
-
-

 

Courtesy of Keith Manson, DRE #, CBRE

Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS, but is not warranted. Data last updated on 9/24/22.

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Jessie Lee shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2022 San Francisco Association of REALTORS. All rights reserved. 

Data last updated 7:51 PM UTC, 9/24/22

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