Comprised of two single-story buildings built in 1953 on ±21,514 square foot R3 lot, 601-605 Cornell Drive is a 12-unit multifamily property with a total building size of ±6,944 square feet. 601-605 Cornell Drive boasts a unit mix of all one-bedroom/one-bathroom units. Each unit is equipped with its own water heater, wall units for heating and cooling, and dual entrances. With current rents conservatively ±55% below market, and further upside following complete unit renovations, a new owner will be able to immediately create value with this unique asset. An investor should also explore development opportunities as the zoning allows for up to one unit per ±1,089 SF of lot size before any density bonuses (buyer must verify). The property is subject to AB 1482, but there are no other local rent control restrictions.