1941university avenue “the gate way to the city of berkeley” excellent downtown location &...

1941University 1941University AvenueAvenue

““The Gate Way to the City of Berkeley”The Gate Way to the City of Berkeley”

Excellent Downtown Location Excellent Downtown Location && High Visibility. High Visibility.

Presented by…Presented by…

• Our Land Our Land RealtyRealty

& &

FundingFunding• Deborah Matthews, Broker Deborah Matthews, Broker

• 510. 704.0644510. 704.0644

ourbroker@hotmail.coourbroker@hotmail.comm

Total sq ft approx.7,800Total sq ft approx.7,8001941 University Café 1817 sq ft1941 University Café 1817 sq ft1941 University Office 2900 sq ft1941 University Office 2900 sq ft1984 Bonita 2000 sq ft1984 Bonita 2000 sq ft1986 Bonita 1000 sq ft1986 Bonita 1000 sq ft

Building at 100% occupancy. Rental Building at 100% occupancy. Rental schedules available upon requestschedules available upon request

Approx $16,000 monthly incomeApprox $16,000 monthly income

1941 University Ave. General Site Information

Current Use: Office/ Retail/CaféCurrent Use: Office/ Retail/Café      Lot size: Approx. 5,000 sq. ft.Lot size: Approx. 5,000 sq. ft.

Current Asking Price:Current Asking Price:$2.4 million$2.4 million

• Asking PriceAsking Price• Current $2.5Current $2.5million million

• Original $3.5Original $3.5millionmillion

• Located on University Ave Located on University Ave “Gateway to the City”“Gateway to the City”

• Site offers Southern exposure Site offers Southern exposure awash with natural lightawash with natural light

• Open work space environmentOpen work space environment

• Near U. C. Berkeley &Near U. C. Berkeley &

• The New Trader Joe’s The New Trader Joe’s (fall 2009)(fall 2009)

Buyer InformationBuyer Information

• Site is retrofitted as per Site is retrofitted as per City of Berkeley codes City of Berkeley codes and requirements.and requirements.

• 2004-2005 upgrades of 2004-2005 upgrades of all interior spaces, all interior spaces, include kitchen areas, include kitchen areas, bathrooms and common bathrooms and common areasareas

• Cat 6 cables for Cat 6 cables for networkingnetworking

• Security system and Security system and electronic entryelectronic entry

Our Neighbor ProjectsOur Neighbor Projects

• 2119 University Ave. 2119 University Ave. • ~44 units~ ~44 units~ • developer Patrick Kennedy developer Patrick Kennedy

(2004)(2004)

• 2004 University Ave. 2004 University Ave. • ~35 units~ ~35 units~ • developer Patrick Kennedy developer Patrick Kennedy

(2004)(2004)

• 1801 University Ave. 1801 University Ave. • ~29 units~ ~29 units~ • developer Patrick Kennedy developer Patrick Kennedy

(2003)(2003)

• 1370 University Ave. 1370 University Ave. • ~71 units~ ~71 units~ • developer Patrick Kennedy developer Patrick Kennedy

(2004)(2004)

Site RedevelopmentSite Redevelopment• We are pleased to announce We are pleased to announce

that the City of Berkeley has that the City of Berkeley has completed the development completed the development standards preliminary standards preliminary application approval letter for application approval letter for this existing sitethis existing site

• We are excited to offer We are excited to offer information to support information to support redevelopment of 5 stories redevelopment of 5 stories commercial mixed use at this commercial mixed use at this location (with inclusionary location (with inclusionary housing)housing)

• Upon approval of Upon approval of redevelopment plans and redevelopment plans and entitlement, estimated site entitlement, estimated site value will be approximately value will be approximately $15,000.000.00$15,000.000.00

Value with entitlements Value with entitlements $28,000.000.00$28,000.000.00

• The site @ 1927 University The site @ 1927 University Asking price of $1.3 millionAsking price of $1.3 million

• (seller is open to offer based on development of the (seller is open to offer based on development of the 1941 University site)1941 University site)

approval of development plans approval of development plans and entitlements, estimated and entitlements, estimated value is $13 millionvalue is $13 million

• Total estimated value Total estimated value of1941/27 sites with of1941/27 sites with development approval and development approval and entitlements is approx. entitlements is approx.

• $28 million$28 million

Site acquisition cost for Site acquisition cost for 1941 University Ave1941 University Ave

•

• 1941 site acquisition 1941 site acquisition $2,400,000.00 $2,400,000.00

• 1927 site acquisition 1927 site acquisition $1,300.000.00 $1,300.000.00

• Estimated project Estimated project construction of construction of approximately 40 unitsapproximately 40 units $ $ 5,000.000.005,000.000.00

• *includes ground level parking *includes ground level parking meeting City of Berkeley meeting City of Berkeley

requirementsrequirements

• Total estimated project CostTotal estimated project Cost

• $ 8,700.000.00$ 8,700.000.00

Project Plan Project Plan

• Project Plan Project Plan • DeTienne Architects DeTienne Architects • San Francisco, CaliforniaSan Francisco, California

• The City of Berkeley has identified The City of Berkeley has identified need for median income “for sale” need for median income “for sale” condos in the downtown areacondos in the downtown area

• Plans include eco-friendly parkingPlans include eco-friendly parking The Klaus Parking SystemThe Klaus Parking System http://www.youtube.com/watch?v=vxYO0ve50G0http://www.youtube.com/watch?v=vxYO0ve50G0

Klaus Parking Systems Inc. offers a wide range of Stack Parkers and Automatic Parkers to make optimal use of available car parking space. Founded in 1907 Klaus Car Parking System has a long history of providing reliable parking systems throughout the world.  Since first hitting the market in 1964, Klaus Parking Systems has steadily increased the number of stack parker and automatic parker models to suit a variety of needs. Today, Klaus Parking Systems is the world’s leading car parking system manufacturer and you can find Klaus Parking System just about anywhere in the world where a smart car parking space solution is required.

Pro FormaPro Forma

Pro forma based on original asking price, adjustments for reduced price required

For Your Personal ShowingFor Your Personal Showing

• Our Land Realty Our Land Realty • 510. 704.0644510. 704.0644

• Deborah Deborah Matthews Matthews

• brokerbroker

• ourbroker@hotmail.comourbroker@hotmail.com