36-Unit Renovated Apartment
For Sale
Contact for pricing
1951 Chestnut St, Berkeley, CA 94702
Vintage multifamily property with upgraded studios, secured access, and convenient connections to transit and Berkeley commercial corridors.
Property SizeContact for details
Days on Market142
Property Features for 1951 Chestnut St
General Information
Standard status
Active
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
36 x studio
Multifamily Units
36
Additional Details
Cap Rate
4.5%
Amenities
in-unit washer/dryers
automatic security gate
automatic garage doors
Listing Agency:
CBRE - Oakland
(415) 773-3592
Listed By:
Keith Manson · License #CA 01490046
Source:
Crexi
Added: Apr 12
Changed: Aug 31
Last Checked: Aug 31 at 4:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Oakland
Investment Insights
Based on property information with market context.
Located at 1951 Chestnut Street in Berkeley, this 36-unit apartment building consists entirely of studio residences. Eighteen units have received permitted, high-end renovations featuring open layouts, refreshed electrical and plumbing systems, stainless steel kitchen appliances, quartz counters, dishwashers, modern bathrooms, hardwood flooring, in-unit laundry, gas wall furnaces, crown molding, and dual-pane windows. The remaining 18 units retain their original condition and are rented below market levels.
Property improvements also include a seismic retrofit, replacement roof, refreshed common-area lighting and carpeting, an automatic security gate, automatic garage doors, and a recently painted exterior. The building carries a 4.5% cap rate. Its Northwest Berkeley setting is a 9-minute walk from North Berkeley BART, with AC Transit stops near University Avenue and access to the 4th Street, San Pablo, University Avenue, and Gilman Street commercial corridors. Highway 123 and Interstates 80 and 580 are also accessible from the property.
Property improvements also include a seismic retrofit, replacement roof, refreshed common-area lighting and carpeting, an automatic security gate, automatic garage doors, and a recently painted exterior. The building carries a 4.5% cap rate. Its Northwest Berkeley setting is a 9-minute walk from North Berkeley BART, with AC Transit stops near University Avenue and access to the 4th Street, San Pablo, University Avenue, and Gilman Street commercial corridors. Highway 123 and Interstates 80 and 580 are also accessible from the property.
Key Highlights
- 36 studio apartment units, including 18 renovated residences and 18 units in original condition
- 18 permitted renovations include updated kitchens, bathrooms, electrical and plumbing systems, hardwood floors, and in‑unit washer/dryers
- Seismic retrofit completed; roof replaced and exterior recently painted
Property Analytics
Property Profile
Current Use
Lease Details
36
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 94702, CA
17,637
Population
8,209
Households
2.1
Avg Household Size
39
Median Age
65%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
13,567
Density / Sq Mi
$99,135
Median Household Income
$66,516
Median Earnings
$1,974
Median Rent
$1,168,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Vintage multifamily property with upgraded studios, secured access, and convenient connections to transit and Berkeley commercial corridors.
Where is this apartment building located?
The property is located at 1951 Chestnut St Berkeley, CA.
What are key features of this property?
This property features: 36 studio apartment units, including 18 renovated residences and 18 units in original condition; 18 permitted renovations include updated kitchens, bathrooms, electrical and plumbing systems, hardwood floors, and in‑unit washer/dryers; Seismic retrofit completed; roof replaced and exterior recently painted
