1614 Russell St - Apartments FOR SALE


Berkeley, CA 94703
$1,195,000 USD
408-909-8629
1614 Russell St, Berkeley, CA for Sale
$1,195,000 USD
Apartments - FOR SALE
1/19
null | 9.21% Cap Rate

1614 Russell St
Berkeley, CA 94703


HIGHLIGHTS

  • Five Units Delivered Fully Vacant Featuring Two 2bd/1bth Units and Three 1bd/1bth Units Set on a 6,992 SF Lot
  • Prime South Berkeley Location - Walking Distance to Popular Restaurants, Cafes, & Ashby BART
  • Offered at a Low Basis w/ Upside to be Captured by Value-Add Investors
  • Highest Cash Flow Property Available in Berkeley - Perfect for Stabilization and Refinance as Interest Rates Drop

OVERVIEW

The Pinza Group is pleased to present 1614 Russell Street in Berkeley, CA, a unique value-add opportunity featuring three separate buildings comprised of five total units, including two 2-bedroom/1-bath units and three 1-bedroom/1-bath units, all set on a spacious 6,992 SF lot. One 2bd unit is a church that may be converted to residential and the other 2bd is a two story cottage which can rent for a premium once renovated. This fully vacant property offers an excellent chance for renovation and renting at market rate rents. The property also sits on a large lot with enough open space to likely add at least one ADU. Zoned for commercial use and situated in a prime South Berkeley location, this property is conveniently close to popular restaurants, cafes, public transportation, parks, and shopping options.

FOR SALE DETAILS

PRICE

$1,195,000 USD

PRICE/SF

$396 USD /SF

# OF UNITS

5

PRICE/UNIT

$239,000

CAP RATE

9.21%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Delivered 100% Vacant

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1905

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,992 SF

ZONING

RM

APN/PARCEL ID

053-1609-023-00

ASK ABOUT THIS PROPERTY

Alec MatutPinza GroupMore Info
408-909-8629

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Alec MatutPinza GroupMore Info
408-909-8629

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.