Current Use by Public Records
- La Quinta Inn by Wyndham Berkeley / Hotel & Motel
Property Details for 920 University Ave
- Year built
- 1965
- Lot size
- 1.54 lot acres
- Property type
- Hospitality properties
- Property subtype
- Motels
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Berkeley
- County
- Alameda
- State
- California
- Longitude
- -122.296
- Latitude
- 37.8679
