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