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MLS® ID: 40884796

1611 Russell Street

BERKELEY, California, 94703

$2,500,000 Pending
  • 2 Beds
  • 1 Baths
  • 768 SQFT
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.
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Listing courtesy of CB RICHARD ELLIS

Amenities

  • Full baths
    1
  • Full Baths Range
    1 Bath
  • Total Baths
    1
  • Zip
    94703
  • Office name
    CB RICHARD ELLIS
  • SQFT
    768
  • Bedrooms
    2
  • Property type
    Lowrise (1-3 Flrs)
  • Zoning type
    R-2A
  • Year built
    1961
  • Lot size
    0.36
  • Sewer
    Sewer System - Public,Water - Public
  • Heating
    Gas,Wall Furnace
  • Agent name
    RICHARD THOMPSON
  • Tax amount
    $ 1250000
  • Purchase Type
    Pending
  • Price Range
    $2m+
  • Square Feet Range
    < 1000 sq ft.
  • Bedrooms Range
    2.0 Beds
  • Year Built Range
    1989 (and earlier)
  • Office ID
    9383

Location

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