2875 California Street is a ±1957 vintage, eight unit, multifamily property in a strong Berkeley rental market. The building is ±6,024 SF on a ±10,195 SF parcel. All two bedroom units, averaging ±750 SF, with desirable floor plans. Individual PG&E. Gas wall heat and stoves. Separate water meters and heaters. Fully parked. Owned laundry. The 2875 California Street location is in a Berkeley area of strong rental demand. Proximity to BART, freeways and public transit is good. Just 8 minutes, 1.6 miles to Cal. Community retail and services are nearby. Contiguous 1611 Russell Street, 10+ units, is on the market at $2,500,000. Combined, 2875 California and 1611 Russell is 18+ units offered at $4,600,000, equating to $255,556 a unit and a ±5.0% cap rate. Please, see the attached documents for the Offering Memorandum.
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