Mixed-Use Entitled Development Opportunity | 1652 University Ave
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Mixed-Use Entitled Development Opportunity 1652 University Ave
6,232 SF Retail Building Berkeley, CA 94703 For Sale
Investment Highlights
- Corner property for sale or joint venture for development
- Existing 2-story building approved for mixed-use development with 28 dwelling units (26 residential, 2 live/work), 1 commercial
- 2-3 blocks to Trader Joe’s, Rose Pizzeria, The Butcher’s Son, Target, Bageltopia, Jaffa Coffee, and Nation's Giant Hamburgers
- Rare, entitled development opportunity in Berkeley, CA – one of the strongest real estate markets in the Bay Area
- Less than a half mile from both North Berkeley BART and Downtown Berkeley BART Stations, as well as UC Berkeley
- Easy walk to Downtown Berkeley’s restaurants (over 150!), world-class theatre, arts, live music and sports venues
Executive Summary
Rare, entitled development opportunity in Berkeley, CA – one of the strongest real estate markets in the Bay Area. Corner property for sale or joint venture for development. Existing 2-story building (office over retail with parking), approved for mixed-use development with 28 dwelling units (26 residential, 2 live/work), 1 commercial. Approved zoning entitlements for a mixed-use project.
Price: Call Broker.
Use Permit #ZP2022-0110 ready.
EXISTING BUILDING:
• SIZE: ±6,232 SF
• PARKING: off-street spaces and 5 garages
• YEAR BUILT: 1946
• LOT SIZE: ±7,500 SF
• APN: 56-2004-20
DEVELOPMENT:
This Studio KDA design includes a 5-story (59’-10”) mixed-use building of 24,732 total square feet – with 3,145 square feet of commercial space (one retail unit and two live/work units) on the ground floor, secure on-site bike parking for at least 14 bicycles, a communal deck + balconies, and 26 dwelling units – ten studios, twelve 1-bedroom, and four 2-bedroom. The design for this project is sophisticated and tailored towards professionals. Residential amenities will include a lobby, landscaped backyard, bike room, balconies, and communal deck with west views of San Francisco Bay.
HIGH-DEMAND LOCATION:
Near both North Berkeley BART and Downtown Berkeley BART Stations, as well as UC Berkeley, which is the number-one ranked public university in the world (U.S. News & World Report).
University Avenue is a major highway corridor from I-80/I-580 near Fourth Street Shops to UC Berkeley campus and Downtown Berkeley
2 blocks to Trader Joe’s.
Within walking distance of Downtown Berkeley’s restaurants (over 150!), world-class theatre, arts, live music and sports venues.
AC Transit bus stops all along University Avenue, connecting to Downtown Berkeley and through adjacent cities.
Excellent historical and forecasted rent growth.
Affluent demographics.
This diverse city is densely populated with a highly educated, high-income population and a recent study placed Berkeley at the top of the list of most cultural student cities in the world.
Price: Call Broker.
Use Permit #ZP2022-0110 ready.
EXISTING BUILDING:
• SIZE: ±6,232 SF
• PARKING: off-street spaces and 5 garages
• YEAR BUILT: 1946
• LOT SIZE: ±7,500 SF
• APN: 56-2004-20
DEVELOPMENT:
This Studio KDA design includes a 5-story (59’-10”) mixed-use building of 24,732 total square feet – with 3,145 square feet of commercial space (one retail unit and two live/work units) on the ground floor, secure on-site bike parking for at least 14 bicycles, a communal deck + balconies, and 26 dwelling units – ten studios, twelve 1-bedroom, and four 2-bedroom. The design for this project is sophisticated and tailored towards professionals. Residential amenities will include a lobby, landscaped backyard, bike room, balconies, and communal deck with west views of San Francisco Bay.
HIGH-DEMAND LOCATION:
Near both North Berkeley BART and Downtown Berkeley BART Stations, as well as UC Berkeley, which is the number-one ranked public university in the world (U.S. News & World Report).
University Avenue is a major highway corridor from I-80/I-580 near Fourth Street Shops to UC Berkeley campus and Downtown Berkeley
2 blocks to Trader Joe’s.
Within walking distance of Downtown Berkeley’s restaurants (over 150!), world-class theatre, arts, live music and sports venues.
AC Transit bus stops all along University Avenue, connecting to Downtown Berkeley and through adjacent cities.
Excellent historical and forecasted rent growth.
Affluent demographics.
This diverse city is densely populated with a highly educated, high-income population and a recent study placed Berkeley at the top of the list of most cultural student cities in the world.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Development Sale
Property Type
Retail
Property Subtype
Building Size
6,232 SF
Building Class
C
Year Built
1946
Tenancy
Multiple
Number of Floors
2
Building FAR
0.84
Land Acres
0.17 AC
Zoning
C-U - Commercial Use
Parking
5 Spaces (0.8 Spaces per 1,000 SF Leased)
Frontage
45 ft on University Ave
Amenities
- Bus Route
- Signage
- Storage Space
- Air Conditioning
Walk Score ®
Walker's Paradise (95)
Bike Score ®
Biker's Paradise (100)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 056-2004-020-00 | Improvements Assessment | £1,069,033 |
| Land Assessment | £635,722 | Total Assessment | £1,704,755 |
PROPERTY TAXES
Parcel Number
056-2004-020-00
Land Assessment
£635,722
Improvements Assessment
£1,069,033
Total Assessment
£1,704,755
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Power Broker Kevin Gordon -
Jonathan Newman -
Gordon Commercial Real Estate Brokerage
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Mixed-Use Entitled Development Opportunity | 1652 University Ave
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