1015 UNIVERSITY AVE Berkeley CA 94710-2134

1015-1027 University Avenue is a 14-unit mixed-use property in a prime location. This is a unique value-add opportunity that offers a 7.3-percent cap rate upon completion and re-leasing of vacant units. The building consists of 9 residential units above five commercial spaces on highly trafficked University Avenue. All residential units will be delivered vacant at the close of escrow, allowing the next owner to decide exact unit count and configuration. One commercial space, previously residential, can either remain a separate unit or be combined with adjacent commercial spaces.

The property is at the crossroads of the next wave of housing development. The City of Berkeley’s recently updated housing plan requires the construction of nearly 9,000 new units of housing – much of it along University Avenue and San Pablo Avenue. Between 2020 and 2040, Berkeley’s population is projected to grow by more than 13,000 new residents. The building is within walking distance of campus, BART, the San Francisco Bay shoreline, Whole Foods, Target/CVS, Fourth Street shopping district, and an abundance of cafes, restaurants, and retail. The location offers residents close proximity to many of the nation's top tech employers including Pandora, Square, BlueShield, PG&E, Kaiser, and is a short trip to San Francisco for Salesforce, Adobe, Uber, Lyft, Twitter, and LinkedIn. The investment appeal of this asset is driven by the East Bay's strong employment fundamentals, low vacancy, and proposed development.

• Rare Mixed-Use Development Opportunity in Prime University Avenue Location

• Unit Mix: Five Commercial; One Four-Bed/One-Bath; Two Two-Bed/One-Bath; Five One-Bed/One-Bath; and Two Studios

• All Residential Units to be Delivered Vacant by Close of Escrow

• 7.3-Percent Cap Rate Upon Renovation and Lease of Vacant Units

• Walking Distance to North Berkeley BART, UC Berkeley, and 4th Street Shopping District

• Rooftop Billboard on a Major Street Provides Additional Income

• Off-Street Parking