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

1283 University Avenue, Berkeley, California 94702 home-pic-0
ACTIVE$999,000
1283 University Avenue, Berkeley, California 94702
0Bed
0Bath
2,650Sqft
5,693Lot
Year Built
1943
Close
-
List price
$999K
Original List price
$1.45M
Price/Sqft
$377
HOA
-
Days on market
-
Sold On
-
MLS number
ML82011080
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $999.0K(40th), sqft - 2650(90th), beds - undefined(50th), baths - undefined(50th).

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
11/10/25
Price Change
$999,000-28.6%
09/08/25
Price Change
$1,399,000
06/14/25
Listing
$1,450,000
Condition Rating
Poor
Built in 1943, this property is over 80 years old. The listing provides no interior images and explicitly notes 'Undisclosed Property Condition' and 'Age of Building' as weaknesses. Without any evidence of recent renovations, it is highly probable that the kitchens, bathrooms, and major systems are severely outdated, requiring substantial repairs and rehabilitation to meet current standards. The exterior images show an older building with visible wear, consistent with its age and lack of documented updates.
Pros & Cons

Pros

Prime Berkeley Location: Strategically located in Berkeley, offering immediate proximity to UC Berkeley and Downtown's vibrant Shattuck Avenue, ensuring high rental demand and tenant appeal.
High Capitalization Rate: Advertised as having 'one of the highest current CAP rates' for a four-plex in the market, presenting a compelling investment opportunity for strong returns.
Multi-Unit Income Property: A quadruplex configuration provides diversified income streams and inherent stability, making it an attractive asset for portfolio expansion.
Desirable Unit Configuration: Features four spacious one-bedroom/one-bathroom units, a highly sought-after layout for students and young professionals in the Berkeley rental market.
Generous Lot Size: Situated on a substantial 5,693 sqft parcel, offering potential for future development, outdoor amenities, or increased property value in a dense urban environment.

Cons

Significant Price Reduction: The property has undergone a substantial price drop from $1.45M to $999,000, which may signal underlying issues, overpricing, or challenges in attracting buyers.
Age of Building: Constructed in 1943, the property is over 80 years old, potentially requiring significant capital expenditure for system upgrades, deferred maintenance, or modernization.
Undisclosed Property Condition: The listing lacks details regarding the interior condition, recent renovations, or maintenance history, suggesting potential for unforeseen repair costs or an 'as-is' sale.

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