1283 University Avenue, Berkeley, California 94702, Berkeley, - bed, bath

home-pic
ACTIVE$1,399,000
1283 University Avenue, Berkeley, California 94702
0Bed
0Bath
2,650Sqft
5,693Lot
Year Built
1943
Close
-
List price
$1.4M
Original List price
$1.45M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82011080
Home ConditionFair
Features
View-

About this home

Marcus & Millichap has been selected to exclusively market for sale 1283 University Ave, an exceptional asset located in the thriving city of Berkeley, California. Situated on a large parcel of land totaling 5,693 square feet, the property offers its tenants four (4) spacious one-bedroom/one-bathroom floor plans. 1283 University is conveniently located within close proximity to the University of California, Berkeley and Downtown Berkeley's Shattuck Ave, home to a myriad of shopping, dining, and entertainment options. UC Berkeley is an internationally recognized institution and prides itself on being the number one public university in the nation and the fourth best globally. 1283 University Ave is one of the highest current CAP rates of any four-plex on market, and presents an attractive choice for investors looking to expand their portfolio in core Bay Area.

Price History

Date
Event
Price
09/08/25
Price Change
$1,399,000
06/14/25
Listing
$1,450,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (9 Listings)
Beds00
Baths00
Square foot2,6500
0%
Lot Size5,6934,748
80%
Price$1.4M$1.24M
90%
Price per square foot$528$0
90%
Built year19439635972
60%
HOA
Days on market144168
40%
Condition Rating
Fair

The property was built in 1943, making it over 80 years old. While the exterior appears to be maintained with fresh paint and landscaping, there are no interior images provided to assess the condition of the kitchen, bathrooms, appliances, flooring, or other critical systems. Given its age and the lack of any mention of recent extensive renovations, it is highly probable that the interior components are outdated and would require minor to moderate updates to meet current aesthetic and functional standards. The property is likely functional but shows its age, aligning with the 'fair' category.
Pros & Cons

Pros

Prime Location: Exceptional proximity to the internationally recognized University of California, Berkeley and Downtown Berkeley's Shattuck Avenue, offering unparalleled access to education, shopping, dining, and entertainment, ensuring high tenant demand.
Strong Investment Return (CAP Rate): Advertised as having one of the highest current CAP rates for any four-plex on the market, indicating a robust income-generating asset in a desirable Bay Area location.
Income-Generating Asset: A well-configured quadruplex with four spacious one-bedroom/one-bathroom floor plans, providing a stable multi-unit income stream for investors.
Large Parcel Size: Situated on a substantial 5,693 square foot lot, which is valuable for a multi-unit property in an urban setting like Berkeley, potentially offering future development or amenity expansion opportunities (subject to zoning).
High Rental Demand Market: Located in Berkeley, a thriving city with a world-renowned university, guaranteeing consistent demand for rental properties and potential for rental growth.

Cons

Property Age & Potential for Deferred Maintenance: Built in 1943, the property is over 80 years old, suggesting potential for aging infrastructure (e.g., plumbing, electrical, roof) and dated interior finishes that may require significant capital investment for updates and ongoing maintenance.
Limited Unit Diversity & Modern Amenities: Consisting solely of 1-bedroom units and lacking specific mention of modern amenities (e.g., in-unit laundry, updated kitchens/baths, dedicated parking), the property might appeal to a narrower tenant demographic and could require upgrades to compete with newer, more amenity-rich rentals.
High Entry Price Point: With a list price of $1.399 million, the property represents a significant capital outlay, which, despite the attractive CAP rate, could limit the pool of potential investors.

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