Sold

951 University Avenue

Berkeley CA, 94710

$4,515,000


$464.41 per sqft

Sold

18 Beds

9,722 sqft

Town House

Built in 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.

422680865

MLS ID

July 21, 2022

Listed

February 10, 2024

Updated

Map

951 University Avenue
Berkeley CA, 94710

Interior Features

Total Stories

2


Bedrooms

18 Beds


Appliances

Dishwasher, Disposal, Free-Standing Freezer, Free-Standing Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Water Heater, Microwave, Self Cleaning Oven


Laundry Description

In Unit


Floor Description

Vinyl, Other


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Gas, Wall Furnace

Exterior/Building Features

Lot Size

0.23 Acres


Lot Features

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


View

No


County

Alameda


Water Source

Separate Meter, Public


Pool

No

Listing History

Date

Event

Price

6/29/2023

Sold

$4,515,000

Bought with Nick Davidson with CIRE and Listed by Keith Manson (DRE #DRE #01490046) with 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 2/10/2024.

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 Hanne Vastveit shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2024 San Francisco Association of REALTORS. All rights reserved. 

Data last updated 2:20 AM UTC, 2/10/2024

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