| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 78th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1122 University Ave, Berkeley, CA, 94702, US |
| Region / Metro | Berkeley |
| Year of Construction | 2010 |
| Units | 84 |
| Transaction Date | 2017-05-16 |
| Transaction Price | $38,400,000 |
| Buyer | RAINTREE 1122 UNIVERSITY LLC |
| Seller | MACH I GE CAMPANILE LLC, Private Investor, Gerding Edlen, PrCiaces/hu Enqitu aivnadle /nstf |
1122 University Ave Berkeley Multifamily Investment
This 84-unit property benefits from Berkeley's strong rental demand, with neighborhood-level occupancy at 88% and exceptional amenity access supporting tenant retention according to WDSuite's CRE market data.
This Urban Core neighborhood ranks in the top 5% nationally for amenities, offering tenants exceptional access to restaurants, cafes, parks, and essential services that support retention and justify premium rents. The area maintains 67.7% renter-occupied housing units, ranking in the top quartile among 469 metro neighborhoods, indicating sustained rental demand that benefits multifamily operators.
Built in 2010, this property represents newer construction in a neighborhood where the average building dates to 1940, providing competitive positioning with reduced near-term capital expenditure requirements. Demographic data within a 3-mile radius shows 192,000 residents with strong income diversity, including 28% of households earning above $200,000 annually, supporting rent growth potential and tenant quality.
The neighborhood's median contract rent of $1,932 has grown 25% over five years, while home values averaging $1.27 million reinforce rental demand by keeping ownership costs elevated. With 88% occupancy and high renter density, the area demonstrates the rental market stability that supports consistent cash flows and lease renewals for multifamily investors.
Crime metrics in this Berkeley neighborhood require careful consideration, with property offense rates ranking in the bottom quartile among metro neighborhoods. While violent crime statistics also reflect elevated levels compared to regional averages, investors should evaluate these factors alongside the area's strong rental demand fundamentals and proximity to major employment centers when assessing risk-adjusted returns.
The property benefits from proximity to major Bay Area corporate headquarters and offices, providing diverse employment opportunities that support consistent tenant demand from working professionals.
- Clorox — consumer goods headquarters (4.6 miles) — HQ
- Gap — retail headquarters (7.7 miles) — HQ
- Salesforce.com — technology headquarters (7.7 miles) — HQ
- Charles Schwab — financial services headquarters (7.8 miles) — HQ
- PG&E Corp. — utilities headquarters (7.9 miles) — HQ
This 84-unit Berkeley property offers compelling fundamentals for multifamily investors, with 2010 construction providing modern appeal in a predominantly older housing stock. The neighborhood's 88% occupancy rate and 67.7% renter share demonstrate stable rental demand, while elevated home values averaging $1.27 million reinforce tenant retention by limiting ownership competition.
Demographic projections within a 3-mile radius show continued population growth and household formation, expanding the potential tenant base through 2028. The area's top-tier amenity density and proximity to major Bay Area employers create competitive advantages for tenant attraction and lease renewals, supporting NOI stability in this high-demand Berkeley submarket.
- Strong rental fundamentals with 88% neighborhood occupancy and high renter density
- 2010 construction vintage provides competitive positioning and reduced capital requirements
- Exceptional amenity access ranks in top 5% nationally, supporting tenant retention
- Elevated crime metrics require careful risk assessment and security considerations