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.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
