Home Buying in Berkeley>Question Details

Gwen, Home Buyer in Sinagpore

Are there any houses apartments near Univeristy Berkeley for sale; what is teh rental like?

Asked by Gwen, Sinagpore Fri Aug 10, 2007

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8
There are many houses and condos for sale in Berkeley near the campus. Currently, they range from the price of $379,000 for a one bedroom condo to $1,495,000 for a 5 bedroom house.

If you're looking to purchase as an investor, there are some regulations in regards to renting that are unique only to Berkley. I would suggest that you contact the Rent Stabilization Board prior to purchasing a property to ensure that your goals for renting can be met.

If you'd like specific information on the active listings in this area, feel free to contact me.

Best of luck!

Mary Burns
Alain Pinel Realtors
(510) 290-1122
3 votes Thank Flag Link Mon Aug 13, 2007
Hi Gwen,

I used to be a student at UC Berkeley and rented several apartments near the campus. The rental price average was around 800 dollars per month per one bedroom apartment.

Hope this can help.
1 vote Thank Flag Link Thu Dec 27, 2007
Hello Gwen,

Berkeley is one of those cities that even in this market, many homes are getting into multiple bid offers and selling for up to 100k over asking. I know it sounds hard to believe but its true! I work for Keller Williams Realty in Berkeley. We have many experienced agents in our office that are well versed in all the complicated city ordinances that are involved in buying, selling and renting property in Berkeley.

It is key that you make an informed decision in any real estate purchase. Do your homework, meet with a few agents and ask lots of questions!! Best of luck to you.

Jessica DeLaney
Keller Williams Golden Gate
1 vote Thank Flag Link Tue Sep 4, 2007
Yes, there is major rent control in Berkeley. Also, due to all the problems with the Berkeley finances and the state education fund these past few years, there has been a cut to the amount of students. That in combination with a surplus of new developments near the area back in early 2000s, the rents have fallen in the Berkeley area and for a time, there was a huge surplus of apartment units available--meaning lower rents. I believe it has started to bounce back but the rental market isn't as strong as it used to be prior to 2001. Through the Alumni Association I know of different housing scenarios: some share a 2 bedroom apartment for $1000 due to rent control, others share 2 bedroom apartments for $1500 because they are new leases.

Finding a local Realtor in the Berkeley area will definitely help you in your search. They know more about the hard facts that go behind the what the current rent is going for, how many units are available to students, if there is currently still a surplus, etc. They will also be able to help you find properties where there may be fewer leases, which would still be under rent control, so that you can charge current rental rates rather than what the "friend" may have been paying in 1992. On the bright side, whether or not the housing market right now is a fantastic investment near Berkeley, I personally think it will eventually become that again, it may just take a little extra time. Good luck with your search Gwen!
1 vote Thank Flag Link Fri Aug 10, 2007
I am also looking to buy a condo can walk to UC Berkeley campus, and I have documented all the info I found so far in the blog. http://berkeleyhousing.blogspot.com/ You are welcome to share ...
0 votes Thank Flag Link Mon Apr 14, 2008
This one is even better, all rental at Berkeley under $1,000 http://sfbay.craigslist.org/search/apa?query=berkeley+&m…
0 votes Thank Flag Link Sun Mar 30, 2008
You can find lots of rentals from craigslist.org http://sfbay.craigslist.org/search/apa?query=berkeley%20
0 votes Thank Flag Link Sun Mar 30, 2008
My friend's son just got admitted to Berkeley, and he is planning to buy a condo for his son's 4 year study at Berkeley. He may be buying this wonderful 1br 1ba condo for only $265,000 that has open house today ... http://www.realtor.com/search/listingdetail.aspx?ctid=5408&a…

This seems to be perfect location for Berkeley student since it is only 5 minutes walk to campus as you can click to see http://maps.google.com/maps?f=d&hl=en&geocode=145420…

On the other hand, if there are other similar condos, he will also be interested in too ...
0 votes Thank Flag Link Sun Mar 30, 2008
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