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1941University Avenue

1941University Avenue. “The Gate Way to the City of Berkeley”. Excellent Downtown Location & High Visibility. Presented by…. Our Land Realty & Funding Deborah Matthews, Broker 510. 704.0644 o urbroker@hotmail.com. 1941 University Ave. General Site Information.

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1941University Avenue

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  1. 1941University Avenue “The Gate Way to the City of Berkeley” Excellent Downtown Location & High Visibility.

  2. Presented by… • Our Land Realty & Funding • Deborah Matthews, Broker • 510. 704.0644 ourbroker@hotmail.com

  3. 1941 University Ave. General Site Information Total sq ft approx.7,8001941 University Café 1817 sq ft1941 University Office 2900 sq ft1984 Bonita 2000 sq ft1986 Bonita 1000 sq ftBuilding at 100% occupancy. Rental schedules available upon request Approx $16,000 monthly income

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

  5. Current Asking Price:$2.4 million • Asking Price • Current $2.5million • Original $3.5million • Located on University Ave “Gateway to the City” • Site offers Southern exposure awash with natural light • Open work space environment • Near U. C. Berkeley & • The New Trader Joe’s (fall 2009)

  6. Site is retrofitted as per City of Berkeley codes and requirements. 2004-2005 upgrades of all interior spaces, include kitchen areas, bathrooms and common areas Cat 6 cables for networking Security system and electronic entry Buyer Information

  7. Our Neighbor Projects • 2119 University Ave. • ~44 units~ • developer Patrick Kennedy (2004) • 2004 University Ave. • ~35 units~ • developer Patrick Kennedy (2004) • 1801 University Ave. • ~29 units~ • developer Patrick Kennedy (2003) • 1370 University Ave. • ~71 units~ • developer Patrick Kennedy (2004)

  8. Site Redevelopment • We are pleased to announce that the City of Berkeley has completed the development standards preliminary application approval letter for this existing site • We are excited to offer information to support redevelopment of 5 stories commercial mixed use at this location (with inclusionary housing) • Upon approval of redevelopment plans and entitlement, estimated site value will be approximately $15,000.000.00

  9. Value with entitlements $28,000.000.00 • The site @ 1927 University Asking price of $1.3 million • (seller is open to offer based on development of the 1941 University site) approval of development plans and entitlements, estimated value is $13 million • Total estimated value of1941/27 sites with development approval and entitlements is approx. • $28 million

  10. Site acquisition cost for 1941 University Ave • 1941 site acquisition $2,400,000.00 • 1927 site acquisition $1,300.000.00 • Estimated project construction of approximately 40 units $ 5,000.000.00 • *includes ground level parking meeting City of Berkeley requirements • Total estimated project Cost • $ 8,700.000.00

  11. Project Plan • Project Plan • DeTienne Architects • San Francisco, California • The City of Berkeley has identified need for median income “for sale” condos in the downtown area • Plans include eco-friendly parking The Klaus Parking System http://www.youtube.com/watch?v=vxYO0ve50G0

  12. 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.

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

  14. For Your Personal Showing Our Land Realty 510. 704.0644 Deborah Matthews broker ourbroker@hotmail.com

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