941-951 University Ave | Berkeley, CA 94710
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- LoopNet Team
941-951 University Ave
Berkeley, CA 94710
University Terrace · Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Beautifully Renovated 10-Unit Apartment Community | 97 Walk Score, 95 Bike Score | 4 Blocks From 4th St | Under 1 Mile to BART | 1.5 Mile from Cal
- Fantastic Market Rate Rents Achieved | All 6 Renovated Units Rented in Approximately 1 Week With No Concessions | Avg. Rent of $3,862
- All Units Are Individually Metered For Water/Sewer, Gas & Electric | Few Operating Expenses For Owner to Pay For
- Over $800K Spent on Recent Capex | 6 of 10 Units Renovated Down to Studs | New Roof, New Windows, New Security Fence & Automatic Gate, Etc.
- 5.04% CAP Rate with Great Rent Income Upside Potential | 4 Units Remain Unrenovated | Potential to Increase NOI by 51%
- 8 of 10 Units are Townhome Style Units With Attached Garages/Bonus Space
PROPERTY FACTS
| No. Units | 10 | Building Size | 9,722 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1954/2022 |
| Building Class | C | Parking Ratio | 1.65/1,000 SF |
| Lot Size | 0.23 AC | ||
| Zoning | C-W | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 9,722 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2022 |
| Parking Ratio | 1.65/1,000 SF |
| Zoning | C-W |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Double Pane Windows
- Freezer
- Linen Closet
- Pantry
- Patio
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Fenced Lot
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 605 |
| 2+1 | 7 | - | 1,035 |
| 2+2 | 1 | - | 1,151 |
PROPERTY TAXES
| Parcel Number | 057-2092-010-00 | Improvements Assessment | $2,885,475 |
| Land Assessment | $900,000 | Total Assessment | $3,785,475 |
PROPERTY TAXES
Parcel Number
057-2092-010-00
Land Assessment
$900,000
Improvements Assessment
$2,885,475
Total Assessment
$3,785,475
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