1716-1732 University Ave - Apartments FOR SALE


Berkeley, CA 94703- Downtown Berkeley
$5,150,000 USD
510-433-5816
1716-1732 University Ave, Berkeley, CA for Sale
$5,150,000 USD
Apartments - FOR SALE
1/47
null | 6.56% Cap Rate

1716-1732 University Ave
Berkeley, CA 94703
Downtown Berkeley


HIGHLIGHTS

  • ~ 27% – Potential Rental Upside.
  • Extensively Renovated Asset – Over $2,600,000 in CapEx: Substantial Seismic Retrofit Completed, New Roof in 2022.
  • Irreplaceable Location – Located 5 blocks from UC Berkeley Campus and 0.7 Miles to Downtown Berkeley BART.
  • Coin Operated Laundry Facility
  • Garage Parking On-Site
  • Separately Metered Gas & Electric

OVERVIEW

Located just five blocks from UC Berkeley’s campus, 1716-1732 University Avenue’s studio & one-bedroom apartments come with updated kitchens and bathrooms with many units offering stainless steel appliances, granite countertops, and tile flooring. Built in 1928, the property offers an irreplaceable, infill location just walking distance from the beating heart of the city of Berkeley – the University of California, Berkeley. Residents benefit from a secure access building, abundance of storage space for bikes and being 0.7 miles from Downtown Berkeley BART. In addition to immediate proximity to UC Berkeley, the property boasts a Walk Score of 96 and Bike Score of 100, a Walker & Biker’s Paradise where daily errands can be accomplished by foot or bike. The asset’s location is west of campus, just minutes from downtown Berkeley, home to various retail and entertainment options such as Trader Joe’s, UC Theatre, Tender Greens, McDonalds, and more. The neighborhood is near Long Life Vehi House, Rojbas Mediterranean Grill, Sushi California, and a plethora of other succulent dining options. The community’s well-appointed unit interiors provide variable paths for adding value to the investment. Higher student and resident density coupled with reconfiguration could translate to a durable improvement in income growth.

FOR SALE DETAILS

PRICE

$5,150,000 USD

PRICE/SF

$203 USD /SF

# OF UNITS

20

PRICE/UNIT

$257,500

CAP RATE

6.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

C-U

APN/PARCEL ID

056-2011-021-00

ASK ABOUT THIS PROPERTY

Ryan RodriguezColliersMore Info
510-433-5816

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Ryan RodriguezColliersMore Info
510-433-5816

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.