Delivered 100% Vacant 1614 Russell St 5 Unit Apartment Building $1,195,000 ($239,000/Unit) 9.21% Cap Rate Berkeley, CA 94703
INVESTMENT HIGHLIGHTS
- Five Units Delivered Fully Vacant Featuring Two 2bd/1bth Units and Three 1bd/1bth Units Set on a 6,992 SF Lot
- Offered at a Low Basis w/ Upside to be Captured by Value-Add Investors
- Prime South Berkeley Location - Walking Distance to Popular Restaurants, Cafes, & Ashby BART
- Highest Cash Flow Property Available in Berkeley - Perfect for Stabilization and Refinance as Interest Rates Drop
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
AMENITIES
SITE AMENITIES
- 24 Hour Access
- Smoke Free
1 of 1
Walk Score®
Very Walkable (87)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 053-1609-023-00 | Improvements Assessment | $88,390 |
| Land Assessment | $45,501 | Total Assessment | $133,891 |
