951 University Avenue Berkeley, CA 94710
Listing Courtesy of: San Francisco Association Of Realtors / Cbre
$4,565,000

  951 University Avenue Berkeley, CA 94710

Active (24 Days)

Description

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 #:
422680865
Lot Size
10,200 SQFT
Type
Multifamily
Year Built
1954
County
Alameda County
Bathroom Details
Kitchen
  • Self/Cont Clean Oven
  • Microwave
  • Gas Water Heater
  • Free Standing Refrigerator
  • Free Standing Gas Range
  • Free Standing Gas Oven
  • Free Standing Freezer
  • Disposal
  • Dishwasher
Lot Information
  • Sidewalk
  • Shape Regular
  • Curbs/Gutters
Heating and Cooling
  • Wall Furnace
  • Gas
  • None
Flooring
  • Other
  • Vinyl
Exterior Features
  • Roof: Shingle
  • Roof: Composition
Utility Information
  • Sewer: Public Sewer
Stories
  • 2
Living Area
  • 9,722 sqft
Location
   
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Estimated Monthly Mortgage Payment

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Disclaimer: Listings on this page identified as belonging to another listing firm are based upon data obtained from SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted. Data Last Updated 8/13/22 21:11.