982 University AveBerkeley, CA 94710

Property Details for 982 University Ave

Year built

1893

Construction

WOOD

Lot size

0.08 AC

Property size (Sq ft)

3,436 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

56-1972-4

APU

5619724

Description

This exceptional mixed-use property at 982 University Avenue in Berkeley, California, presents a compelling investment opportunity. The ground floor boasts a fully operational restaurant space, ready for immediate use. The kitchen is partially equipped, and a historically significant bar adds character and potential for a unique dining experience. This turnkey setup is perfect for established restaurateurs or ambitious newcomers seeking to capitalize on Berkeley's thriving culinary scene. Upstairs, two spacious one-bedroom apartments generate consistent rental income, currently leased at $1900 and $1700 per month respectively. Both units are bright and comfortable, appealing to the high demand for rental housing in this desirable area. Adding to the property's value is a substantial storage structure located in the sizable backyard (0.08 acres). The property's enviable location on University Avenue places it within easy reach of UC Berkeley, public transportation, and a wealth of shops and restaurants, guaranteeing high foot traffic and a strong customer base. This property offers immediate income potential and significant long-term growth prospects, making it an ideal investment for owner-operators, developers, or investors seeking a prime location in the heart of Berkeley. The asking price is $1,198,000.

• CAP approach

  CAP return

  Valuation

  6%

  $942,667

  6.5%

  $870,154

  7%

  $808,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $630,493

  Geo Method

  $958,335

• Alternative Use

  Use

  Valuation

  Residential

  $1,078,991

  Hospitality

  $988,350

  Educational

  $822,295

  Medical

  $850,575

  Retail

  $1,279,126

Location Insight

City

Berkeley

County

Alameda

State

California

Latitude

37.8683

Longitude

-122.295

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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