Sheldon Mao, Home Buyer in San Jose, CA

Multi-units in Berkeley, CA

Asked by Sheldon Mao, San Jose, CA Wed Feb 13, 2008

Is there any place to find the trend/data of mutli-units in Berkeley?

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Answers

5
Trend and Data information is available for multi units through LoopNet. some of us here in Berkeley subscribe to Loopnet and have access to that data. How accurate is it? What in particular do you want to know? Because there has been Rent Control in Berkeley since 1979, rents are not rising and falling with the market demand, however, when a unit is voluntarily vacated, the rent can be reset to market rate. We are experiencing a healthy resale market in under 10 units here due to the strong demand for rentals and low vacancy factor. Anything more specific you want to know, I will answer . All the best. Liz
1 vote Thank Flag Link Thu Feb 14, 2008
As former President of the Berkeley Property Owners Association I have a soft spot for Berkeley Real Estate. Our company also sells a large number of apartment buildings near the UC Berkeley campus. I would recommend talking to the Berkeley rent board and investigating the Berkeley Property Owners Association prior to actually buying a multi-unit. There are also exemptions as mentioned by the other professionals here that should be considered very carefully. Our website has various properties for sale in Berkeley. Do not buy until you're comfortable you understand rent control and have the resources necessary to protect yourself.

I'm not a frequent poster. If the link below to our multi-unit buildings is not appropriate, please let me know and I'll remove it.

Depending on the trends you're looking for, we have published Berkeley specific trends, and most local agents specializing in multi-units would be willing to do a search in order to give you data for what multi-units have sold for over a particular time.
0 votes Thank Flag Link Wed May 19, 2010
I am interested in what information will be helpful to all of you re: multi units in Berkeley. While we are dampened in value growth by rent control, purchasing what are called "golden duplexes" exempts the property owner from rent control while the property owner lives in one of the units. Values are high now, given the increase in student population - we sell alot of 4 units and under to parents in just the same situation as you have, Cheng. As an investment (I own a 2 flat property in Berkeley as well as my home), I have seen the market value go up in a less volatile, but always up manner. I am glad to speak with you and perhaps even recommend the best person to find you a solution to your investment and parent goals. All the best, Liz
0 votes Thank Flag Link Mon Apr 14, 2008
We are also interested in buying multi-units at Berkeley near BART and walk to UC Berkeley since my kid just got admitted to UC Berkeley and he has got to know many new admitted in Berkeley Alumni Welcome lunch to 126 newly admittes and their parents.

So far, I have documented all the info I collected in this blog to circulate around to prospective buyer parents ... http://berkeleyhousing.blogspot.com/
0 votes Thank Flag Link Mon Apr 14, 2008
Sheldon....

A local Realtor can help you with trends and statistics. Beware that Berkeley has a very tight rent control and be sure to use a Berkeley Realtor. Good luck.
0 votes Thank Flag Link Wed Feb 13, 2008
Pam Winterba…, Real Estate Pro in San Ramon, CA
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