951 University Avenue

Berkeley, CA 94710

$4,515,000
Last Sold Price
Beds
9,722 Sq. Ft.
$464 / Sq. Ft.
9,722
Sq. Ft.
$464
per Sq. Ft.

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...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.
  1. Listed by Keith Manson • DRE #01490046 • CBRE
  2. Listed by Zachary W Greenwood • DRE #01960296 • CBRE

Property Details for 951 University Avenue

Parking Features
Attached, Garage, Uncovered
Cross Street
8th Street
Total Parking Spaces
16

Location

Listing Courtesy of CBRE, Keith Manson, DRE #01490046; CBRE, Zachary W Greenwood, DRE #01960296

Sold By CIRE, Nick Davidson, DRE #666666

Add your commute
LISTING UPDATED: 09/01/2022 08:54 AM

Property Details for 951 University Avenue

StatusClosed
MLS #422680865
Days on Compass22
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / 5 or More Units
Year Built1954
Lot Size0.23 AC / 10,201 SF
CountyAlameda County

Location

Listing Courtesy of CBRE, Keith Manson, DRE #01490046; CBRE, Zachary W Greenwood, DRE #01960296

Sold By CIRE, Nick Davidson, DRE #666666

Add your commute

Building Information for 951 University Avenue

Stories2Residences10Year Built1954Building Size-Lot Size0.23 AC / 10,201 SF

Payment Calculator

$29,999 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,640

Property Taxes

$5,359

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 951 University Avenue

Summary
Location and General Information
  • Area/District: Berkeley Map Area 10
  • Area Short Display: 2310
  • Location Description: Berkeley Map Area 10
Taxes and HOA Information
  • APN: 057-2092-010
  • City Transfer Tax Rate: .00%
  • County Transfer Tax Rate: .00%
  • Association: No
Parking
  • Covered Spaces: 0
  • Independent Parking Spaces: 0
  • Carport Spaces: 0
  • Garage Spaces: 0
  • Tandem Parking Spaces: 0
  • Open Parking Spaces: 0
  • Num of Parking Spaces: 16.0
  • Parking: Attached, Garage, Uncovered
Virtual Tour
  • Virtual Media Count: 0
Property
Lot Information
  • Square Footage Source: Owner
  • Year Built Source: Assessor Agent-Fill
  • Building Name: University Terrace
  • Lot Size Source: Assessor Auto-Fill
  • Lot Features: Curbs/Gutters, Shape Regular, Sidewalk
Property and Assessments
  • Property Condition: Updated/Remodeled, Varies by Unit
  • Possession: Close of Escrow
  • Picture Count: 34
  • Photos Provided By: 3rd Party Photographer
  • Elevation: 0
  • Disclosures/Documents: Disclosure Package Available, Rent Control
  • Units Furnished: None
Green Features
  • Green Verification Year: 0
Utilities
  • Separate Meters: Electricity, Gas, Water
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Elevation Units: Feet
  • # of Floors: 2
  • # of Guest Space(s): 0
  • # Of Buildings: 1
  • Stories: 2
  • Levels: Two
  • Patio And Porch Features: Enclosed Patio, Uncovered Patio, Varies by Unit
  • Window Features: Dual Pane Full
  • Security Features: Carbon Mon Detector, Double Strapped Water Heater, Secured Access, Security Fence, Security Gate, Security Lights, Smoke Detector, Video System
  • Roof: Composition, Shingle
Interior Features
  • Heating: Gas, Wall Furnace
  • Appliances: Dishwasher, Disposal, Free Standing Freezer, Free Standing Gas Oven, Free Standing Gas Range, Free Standing Refrigerator, Gas Water Heater, Microwave, Self/Cont Clean Oven
  • Laundry Features: In Each Unit, Varies by Unit
  • Basement: None
  • Cooling: None
  • Flooring: Vinyl, Other
  • Full Bathrooms: 0
  • # of Rooms: 46
Room Information
1 Bedroom Unit
  • 1 Bedroom Rent Range: 1380-3295
  • # of 1 Bedroom Units: 2
  • 1 Bedroom Annual Occupancy: .00%
  • # of 1 Bedrooms Occupied: 2
2 Bedroom Unit
  • 2 Bedroom Rent Range: 1019-4295
  • # of 2 Bedroom Units: 8
  • 2 Bedroom Annual Occupancy: .00%
  • # of 2 Bedrooms Occupied: 8
3 Bedroom Unit
  • # of 3 Bedroom Units: 0
  • 3 Bedroom Annual Occupancy: .00%
  • # of 3 Bedrooms Occupied: 0
4 Bedroom Unit
  • # of 4 Bedroom Units: 0
  • 4 Bedroom Annual Occupancy: .00%
  • # of 4 Bedrooms Occupied: 0
Multi Family
Income & Expenses
  • Gross Rent Multiplier: 0.99
  • Gross Income Multiplier: 0.0
  • Utilities Expense: 0.0
Multi-Family Information
  • # Commercial Units: 0
  • Total # Owner Occupied: 0
  • # Studios Occupied: 0
  • # of Studio Units: 0
  • # of Units: 10
  • # Of Units Total: 10
  • # Of Units Vacant: 0
  • # Of Units Leased: 10
  • Total # Leasable: 0
  • Total # Section 8: 0
Unit 1
  • Unit 1 Bedrooms: 0
  • Unit 1 Full Baths: 0
  • Unit 1 Partial Baths: 0
  • Unit 1 Rent: $.00
  • Unit 1 Approx SqFt: 0.0
  • Unit 1 # of Rooms: 0
Unit 2
  • Unit 2 Bedrooms: 0
  • Unit 2 Full Baths: 0
  • Unit 2 Partial Baths: 0
  • Unit 2 Rent: $.00
  • Unit 2 Approx SqFt: 0.0
  • Unit 2 # of Rooms: 0
Unit 3
  • Unit 3 Bedrooms: 0
  • Unit 3 Full Baths: 0
  • Unit 3 Partial Baths: 0
  • Unit 3 Rent: $.00
  • Unit 3 Approx SqFt: 0.0
  • Unit 3 # of Rooms: 0
Unit 4
  • Unit 4 Bedrooms: 0
  • Unit 4 Full Baths: 0
  • Unit 4 Partial Baths: 0
  • Unit 4 Rent: $.00
  • Unit 4 Approx SqFt: 0.0
  • Unit 4 # of Rooms: 0
Rental
Rent Information
  • Lease Term: Varies By Unit
  • # Of Units Month to Month: 0
  • Studio Annual Occupancy: .00%
  • Tenant Pays: Electricity, Gas, Sewer, Water

Property History for 951 University Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 951 University Avenue

Taxable ValueLand$1,000,000Additions$3,515,000Total$4,515,000
Tax Record2023$64,303 ($5,359 / month)
Home Facts
Total Finished SqFt8,024 SqFtAbove Grade Finished SqFt8,024 SqFtStories2Lot Size10,200 SqFtStyleMulti-Family Res (5+ Units)Year Built1954Year Renovated1958CountyALAMEDAAPN57-2092-10

Schools near 951 University Avenue

This home is within Berkeley Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - K to 5
Rating
School
Distance
Ruth Acty Elementary
PublicK to 5

Berkeley Arts Magnet at Whittier School
PublicK to 5

Thousand Oaks Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CBRE, Keith Manson, DRE #01490046; CBRE, Zachary W Greenwood, DRE #01960296

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.