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1709 Shattuck Ave
Berkeley, CA 94709
University Park Apartments · Immeuble residentiel Propriété À vendre
·
97 Unités
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Faits saillants de l'investissement
- Rare chance to acquire a 97- unit value-add apartment building in North Berkeley
- Capture the Nation Leading San Francisco rent growth wave through a true value-add opportunity
- Favorable debt environment with 30-Day SOFR at multi-year lows
- Nearly $2.1 million spent on recent capital improvements
- Current vacancy and ideal unit layouts provide an opportunity to add bedrooms
- Steps from the #1 public university in the world
Résumé de l'annonce
The Cushman & Wakefield Northern California Multifamily Capital Markets Team is pleased to present for sale University Park Apartments, a rare 97-unit value-add investment opportunity located just three blocks from the world-renowned University of California, Berkeley.
With a current vacancy of 31%, the property offers immediate upside through strategic repositioning as a student housing focused rental community. The combination of proximity to campus, strong demand for student housing, and the opportunity to increase density by adding bedrooms to units makes University Park an attractive acquisition for investors seeking growth in one of the Bay Area’s most stable rental markets.
The property consists of two well-located buildings at 1709 Shattuck Avenue and 1710 Walnut Street in North Berkeley. Together, they total ±62,339 square feet on ±40,350 square feet of land and offer an ideal unit mix of 30 studios, 48 one-bedroom units, and 19 two-bedroom units. The larger 85-unit structure at 1709 Shattuck includes an amenity package consisting of 97 parking spaces, secure bike storage, an on-site laundry facility, a furnished lobby, leasing office, and a communal rooftop deck. With layouts that allow for efficient unit reconfiguration --47 of 48 one-bedroom units can be converted to two-bedroom layouts --the property has the potential to increase its bedroom count by nearly 55%, directly enhancing rental revenue potential.
University Park Apartments is located in the heart of a walkable, amenity-rich neighborhood with easy access to shopping, dining, entertainment, and public transportation. Popular spots like the Gourmet Ghetto, downtown Berkeley, and Telegraph Avenue are all within walking distance, offering a vibrant mix of restaurants, coffee shops, bookstores, and nightlife. The property is served by multiple AC Transit bus lines, and both the Downtown Berkeley and North Berkeley BART stations are nearby, providing convenient connections to San Francisco, Oakland, and the broader Bay Area. Immediate freeway access to I-80, I-580, and Highway 24 further enhances regional connectivity, making this an exceptional location for student renters and long-term value creation.
With a current vacancy of 31%, the property offers immediate upside through strategic repositioning as a student housing focused rental community. The combination of proximity to campus, strong demand for student housing, and the opportunity to increase density by adding bedrooms to units makes University Park an attractive acquisition for investors seeking growth in one of the Bay Area’s most stable rental markets.
The property consists of two well-located buildings at 1709 Shattuck Avenue and 1710 Walnut Street in North Berkeley. Together, they total ±62,339 square feet on ±40,350 square feet of land and offer an ideal unit mix of 30 studios, 48 one-bedroom units, and 19 two-bedroom units. The larger 85-unit structure at 1709 Shattuck includes an amenity package consisting of 97 parking spaces, secure bike storage, an on-site laundry facility, a furnished lobby, leasing office, and a communal rooftop deck. With layouts that allow for efficient unit reconfiguration --47 of 48 one-bedroom units can be converted to two-bedroom layouts --the property has the potential to increase its bedroom count by nearly 55%, directly enhancing rental revenue potential.
University Park Apartments is located in the heart of a walkable, amenity-rich neighborhood with easy access to shopping, dining, entertainment, and public transportation. Popular spots like the Gourmet Ghetto, downtown Berkeley, and Telegraph Avenue are all within walking distance, offering a vibrant mix of restaurants, coffee shops, bookstores, and nightlife. The property is served by multiple AC Transit bus lines, and both the Downtown Berkeley and North Berkeley BART stations are nearby, providing convenient connections to San Francisco, Oakland, and the broader Bay Area. Immediate freeway access to I-80, I-580, and Highway 24 further enhances regional connectivity, making this an exceptional location for student renters and long-term value creation.
Faits sur la propriété
| Type de vente | Investissement | Taille du lot | 0,93 AC |
| Nombre d’unités | 97 | Taille du bâtiment | 62 339 pi² |
| Type de propriété | Immeuble residentiel | Occupation moyenne | 76% |
| Sous-type de propriété | Appartement | Nombre d’étages | 5 |
| Style d’appartement | De hauteur moyenne | Année de construction/rénovation | 1965/2009 |
| Classe d’immeuble | C | Ratio de stationnement | 1,56/1 000 pi² |
| Zonage | R-4 | ||
| Type de vente | Investissement |
| Nombre d’unités | 97 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De hauteur moyenne |
| Classe d’immeuble | C |
| Taille du lot | 0,93 AC |
| Taille du bâtiment | 62 339 pi² |
| Occupation moyenne | 76% |
| Nombre d’étages | 5 |
| Année de construction/rénovation | 1965/2009 |
| Ratio de stationnement | 1,56/1 000 pi² |
| Zonage | R-4 |
Commodités
- Détecteur de fumée
Commodités des unités
- Prêt pour le câble
- Chauffage
- Cuisine
- Comptoirs de granit
- Four
- Électroménagers en acier inoxydable
- Fourchette
- Bain/Douche
- Vues
- Walk-in
- Congélateur
- Lingerie
- Plancher de vinyle
- Comptoirs en quartz
Commodités du site
- Accès 24 heures
- Accès contrôlé
- Installations de lessive
- Piscine
- Gestionnaire d'immeuble sur place
- Unités meublées disponibles
- Service de lavage de vêtements
- Service d'emballage
- Recyclage
- Ascenseur
- Solarium
- Transport en commun
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| Studios | 30 | - | 450 |
| 1+1 | 48 | - | 650 |
| 2+1 | 19 | - | 650 - 850 |
Impôts fonciers
| Numéros de lot | Évaluation des bâtiments | 36 507 160 $ CAD | |
| Évaluation du terrain | 14 572 817 $ CAD | Évaluation totale | 51 132 738 $ CAD |
Impôts fonciers
Numéros de lot
Évaluation du terrain
14 572 817 $ CAD
Évaluation des bâtiments
36 507 160 $ CAD
Évaluation totale
51 132 738 $ CAD
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