920 University AveBerkeley, CA 94710

Property Details for 920 University Ave

Year built

1965

Lot size

1.54 AC

Property size (Sq ft)

93,992 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This exceptional investment opportunity presents a 113-key, three-story hotel situated on 1.54 acres at 920 University Avenue in Berkeley, California, 94710. The property, built in 1965, boasts 93,992 square feet and features an interior corridor design. Its strategic location on University Avenue provides convenient access to the University of California, Berkeley, and Lawrence Berkeley National Laboratory, tapping into a thriving hospitality market. The hotel benefits from a strong monthly occupancy rate exceeding the market average, demonstrating resilience and profitability. With a Net Operating Income (NOI) of $959,141.08 and an asking price of $19,750,000, this asset offers significant potential for value-add improvements. The property includes excess parking and banquet space, although a full-service restaurant is currently closed. The site is zoned R-4 (High Density Residential) and is located within an Opportunity Zone, presenting further investment advantages. Its proximity to major areas like San Francisco and Oakland enhances its appeal. This is a rare chance to acquire a prominent hospitality asset in a high barrier-to-entry market experiencing significant growth. The property's strong performance history and location make it an attractive investment for discerning buyers. The parcel number is 56-1967-16-1.

Location Insight

City

Berkeley

County

Alameda

State

California

Latitude

37.8679

Longitude

-122.296

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