1611 Russell Street is a ±1961 vintage, 10 unit, multifamily property in a strong Berkeley rental market. The building is ±7,898 SF on a ±15,695 SF parcel. There are 10 two bedroom, units with desirable floor plans, averaging ±752 SF. An ±260 SF studio is currently out of service with an opportunity to be reclaimed by the new owner. PG&E is individually metered. Heat is gas wall. Cooking is gas. Individual water heaters & meters. The property includes a large 1W/1D laundry room. The property has a large rear yard, formerly a nursery. The 1611 Russell Street location has good proximity to BART, freeways and rapid transit. It is just 8 minutes, 1.6 miles, to Cal. Community retail and services are conveniently nearby. Contiguous 2875 California Street, eight 2/1 units is on the market for $2,100,000. Together 1611 Russell and 2875 California is available for $4,600,000, equating to $255,556 a unit and a ±5.0% cap rate. Please, see attached documents for the Offering Memorandum.
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