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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    951 University Ave Berkeley, CA 94710-2045

    • Apartment buildings
    • 8,024 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Aug 30, 2022
    $4,515,000
    Value Estimations
    $3,525,000
    Show details
    Cap Rate Potential
    4.1%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-7487120
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 951 University Ave

    Year built
    1954
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    8,024 SF
    Property type
    Apartment buildings
    APN
    57-2092-10
    APU
    57209210

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,860,000
      ML approach
      $3,965,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,660,000
      6.5%
      $2,455,000
      7%
      $2,280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,561,000
      Market price range: $1.48M - $3.56M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,565,000
      Current use
      INDUSTRIAL (GENERAL)
      $4,325,000
      Change: +69% Conversion: Difficult
      MEDICAL BUILDING
      $4,295,000
      Change: +67% Conversion: Moderate
      RESTAURANT
      $4,040,000
      Change: +57% Conversion: Difficult
      OFFICE BUILDING
      $3,875,000
      Change: +51% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $3,410,000
      Change: +33% Conversion: Difficult
      RETAIL STORES
      $2,900,000
      Change: +13% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Berkeley
    County
    Alameda
    State
    California
    Longitude
    -122.295
    Latitude
    37.8688
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $64,303
    $1,020,000
    $3,585,300
    $4,605,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $885,000
      53,292 SF

      814 University Ave

      APARTMENT HOUSE (5+ UNITS) • 53,292 SF
      814 University Ave, Berkeley, CA 94710-2096
      View Details
    • Value Estimation
      $420,000
      4,320 SF

      2437 8th St

      APARTMENT HOUSE (5+ UNITS) • 4,320 SF
      2437 8th St, Berkeley, CA 94710-2534
      View Details
    • Value Estimation
      $395,000
      3,666 SF

      2432 7th St

      APARTMENT HOUSE (5+ UNITS) • 3,666 SF
      2432 7th St, Berkeley, CA 94710-2448
      View Details
    • Value Estimation
      $415,000
      7,018 SF

      2429 8th St

      APARTMENT HOUSE (5+ UNITS) • 7,018 SF
      2429 8th St, Berkeley, CA 94710-2501
      View Details
    • Value Estimation
      $355,000
      4,750 SF

      2241 9th St

      APARTMENT HOUSE (5+ UNITS) • 4,750 SF
      2241 9th St, Berkeley, CA 94710-2365
      View Details
    • Value Estimation
      $270,000
      4,349 SF

      900 Camelia St

      APARTMENT HOUSE (5+ UNITS) • 4,349 SF
      900 Camelia St, Berkeley, CA 94710-1448
      View Details

    Similar Nearby for Sale

    • $1,700,000

      Berkeley Multifamily Investment Opportunity

      Four units, each with two bedrooms and one bathroom.
      1738 7Th St, Berkeley, CA 94710
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    • $2,100,000
      6,168 SF

      Berkeley 10-Unit Apartment Building

      Prime Berkeley investment opportunity: 10 units, ample parking.
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    • $1,200,000
      4,661 SF

      Berkeley 6-Unit Apartment Building

      Prime Berkeley location, high-demand rental market.
      2344 9th St, Berkeley, CA 94710
      View Details
    • $3,050,000
      6,361 SF

      Berkeley 10-Unit Apartment Building

      Prime Berkeley location, renovated units, strong ROI
      1744 10th St, Berkeley, CA 94710
      View Details

    Similar Nearby for Lease

    • $3,850,000

      Eastshore Highway Land Opportunity

      Land available for lease on Eastshore Highway, Berkeley.
      1433 Eastshore Hwy, Berkeley, CA 94710
      View Details
    • Contact for pricing
      7,957 SF

      Contemporary Office and Lab Space

      Office and lab space with outdoor gathering area in Berkeley.
      2222 4Th St, Berkeley, CA 94710
      View Details
    • Contact for pricing
      81,500 SF

      Berkeley Lab Facility with Parking

      Class A lab and office space in West Berkeley.
      725 Potter St, Berkeley, CA 94710
      View Details
    • Contact for pricing
      9,260 SF

      Berkeley Flex Space Available

      9,260 SF flex space with build-to-suit lab improvements.
      1440 4Th St, Berkeley, CA 94710
      View Details
    • Contact for pricing

      Office Space Near I-80 Freeway

      Office space with immediate I-80 access and walkable to shopping.
      2200 4Th St, Berkeley, CA 94710
      View Details
    • Contact for pricing
      8,810 SF

      Berkeley Retail Space For Lease

      8,810 SF retail space in premier Berkeley location.
      2010 5Th St, Berkeley, CA 94710
      View Details
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    951 University Ave
    Berkeley, CA 94710-2045
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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