Delivered 100% Vacant | 1614 Russell St
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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
| Price | $1,195,000 | Property Subtype | Apartment |
| Price Per Unit | $239,000 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 9.21% | Lot Size | 0.16 AC |
| Gross Rent Multiplier | 7.75 | Building Size | 3,017 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1905 |
| Price | $1,195,000 |
| Price Per Unit | $239,000 |
| Sale Type | Investment |
| Cap Rate | 9.21% |
| Gross Rent Multiplier | 7.75 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,017 SF |
| No. Stories | 2 |
| Year Built | 1905 |
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
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Walk Score ®
Very Walkable (89)
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 |
PROPERTY TAXES
Parcel Number
053-1609-023-00
Land Assessment
$45,501
Improvements Assessment
$88,390
Total Assessment
$133,891
zoning
| Zoning Code | RM (Multi-family Residential) |
| RM (Multi-family Residential) |
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Delivered 100% Vacant | 1614 Russell St
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