NOT LISTED FOR SALE

1297 University Ave Berkeley, CA 94702

Estimated Value: $1,284,000 - $1,547,000

4 Beds
4 Baths
2,650 Sq Ft
$537/Sq Ft Est. Value

Last Sold March 29, 2024

Last sale price $1,425,000 $538 Per Sq Ft

Current estimated payment $8,147/month

105 Days on Market

About This Home

As of March 2024

Levin Johnston has been selected to exclusively market for sale 1297 University Ave, an exceptional pride-of-ownership asset located in the thriving city of Berkeley, California. Situated on a parcel of land totaling 5,693 square feet, the subject property was originally constructed in 1943 and has a gross building area of 2,650 square feet offering its tenants beautifully designed one-bedroom floor plans. The subject property is located within close proximity to the University of California, Berkeley and Downtown Berkeley's Shattuck Ave, home to a myriad of shopping, dining, and entertainment options. UC Berkeley is an internationally recognized University and prides itself on being the number one public university in the nation and the fourth best globally.

Last Agent to Sell the Property

Eymon Binesh

Marcus & Millichap License #02060059 Listed on: 11/27/2023

Co-Listed By

Robert Johnston

Marcus & Millichap License #01853816

Last Buyer's Agent

Eymon Binesh

Marcus & Millichap License #02060059 Listed on: 11/27/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,570

Year Built

  • 1943

Lot Details

  • 5,693 Sq Ft Lot

Home Design

  • Quadruplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,650 Sq Ft Home
  • 2-Story Property

Parking

  • 4 Parking Spaces
  • Uncovered Parking

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $100,632
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $1,200
  • Insurance Expense $2,380
  • Maintenance Expense $2,000
  • Other Expense $2,800
  • Utility Expense $1,800
  • Trash Expense $1,400
  • Operating Expense $35,114
  • Gross Income $97,613

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,570

Year Built

1943

Lot Details

0

Listing Details

  • Zoning: C-U
  • Subclass: Fourplex
  • Age: 80
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2650
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1943

Interior Features

  • Living Sq Ft: 2650
  • Stories: 2

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Parking Spaces: 4
  • Garage Parking Features: Uncovered Parking

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • School District: Berkeley Unified

Lot Info

  • Lot Acres: 0.1307
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5693.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5693.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 14.89
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 2380
  • Expense Landscape: 1200
  • Expense Maintenance: 2000
  • Expenses Other: 2800
  • Expenses Total: 35114
  • Expenses Utility: 1800
  • Expense Trash: 1400
  • Income Annual Gross: 97613.00
  • Income Annual Rental: 100632
  • Income Gross Scheduled: 100632
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Insurance, Maintenance, Services - Gardener
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 27, 2023
Closed on
Mar 23, 2024
Sold by
Nanak Foundation Trust and Virk Dhian
Bought by
Vivek Jindal And Divya Mittal Trust and Jindal
Seller's Agent
Eymon Binesh
Marcus & Millichap
Buyer's Agent
Eymon Binesh
Marcus & Millichap
List Price
$1,498,000
Sold Price
$1,425,000
Premium/Discount to List
-$73,000
-4.87%
Views
80
Current Estimated Value
$1,423,227

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$1,773
Avg. Annual Appreciation
-0.08%
Original Mortgage
$997,500
Outstanding Balance
$983,218
Interest Rate
6.77%
Mortgage Type
New Conventional
Estimated Equity
$440,009

Purchase Details

Closed on
May 26, 2011
Sold by
Virk Dhian Singh and Virk Gurcharn Kaur
Bought by
Virk Dhian and Virk Gurcharn

Purchase Details

Closed on
May 3, 1995
Sold by
Mainson John Alden and The John Alden Mainson Revocab
Bought by
Virk Dhian Singh and Virk Gurcharn Kaur

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$204,000
Interest Rate
8.46%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Vivek Jindal And Divya Mittal Trust $1,425,000 First American Title
Virk Dhian -- None Available
Virk Dhian Singh $255,000 Old Republic Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Vivek Jindal And Divya Mittal Trust $997,500
Previous Owner Nanak Foundation Trust $981,000
Previous Owner Nanak Foundation Trust $1,005,000
Previous Owner Virk Dhian $1,473,000
Previous Owner Virk Dhian $227,000
Previous Owner Virk Dhian $1,250,000
Previous Owner Virk Dhian Singh $70,000
Previous Owner Virk Dhian Singh $380,000
Previous Owner Virk Dhian Singh $385,000
Previous Owner Virk Dhian Singh $165,000
Previous Owner Virk Dhian Singh $135,000
Previous Owner Virk Dhian Singh $204,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/29/2024 03/29/24 Sold $1,425,000 -4.9% $538 / Sq Ft
03/12/2024 03/12/24 Pending -- -- --
11/27/2023 11/27/23 For Sale $1,498,000 -- $565 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,570 $1,453,500 $436,050 $1,017,450
2024 $7,570 $209,951 $62,903 $147,048
2023 $7,951 $205,835 $61,670 $144,165
2022 $8,822 $201,800 $60,461 $141,339
2021 $7,660 $197,843 $59,275 $138,568
2020 $10,071 $195,814 $58,667 $137,147
2019 $8,281 $191,976 $57,517 $134,459
2018 $6,059 $188,212 $56,390 $131,822
2017 $10,851 $184,522 $55,284 $129,238
2016 $8,847 $180,905 $54,200 $126,705
2015 $8,325 $178,188 $53,386 $124,802
2014 $6,477 $174,698 $52,341 $122,357
Source: Public Records

Agents Affiliated with this Home

  • Eymon Binesh

    Seller's Agent in 2024

    Eymon Binesh

    Marcus & Millichap

    (650) 391-1700

    67 Total Sales

    Eymon Binesh
    Section Image
  • Robert Johnston

    Seller Co-Listing Agent in 2024

    Robert Johnston

    Marcus & Millichap

    (510) 304-8077

    137 Total Sales

    Robert Johnston
    Section Image
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Map

Source: MLSListings

MLS Number: ML81948658

MLSListings

APN: 057-2081-024-00

California Alameda County Berkeley 94702

1297 University Ave, Berkeley, CA

This home is located at 1297 University Ave, Berkeley, CA 94702 since 27 November 2023 and is currently estimated at $1,423,227, approximately $537 per square foot. This property was built in 1943. 1297 University Ave is a home located in Alameda County with nearby schools including Rosa Parks Elementary School, Ruth Acty Elementary, and Berkeley Arts Magnet at Whittier School.

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