Properties

2147 Russell Street Berkeley CA

$ 1,895,000
  • Property is Sold
  • Property Type: Multi-family

Property Description

2147 Russell Street, Berkeley CA 94705 

AMENITIES

  • Recently renovated detached parking/storage building (delivered vacant)
  • Recently renovated central garden / courtyard area
  • Recently renovated lobby & hallway area in Four-plex
  • Additional common area tenant storage beneath cottage unit
  • (3) of (5) units completely renovated and DELIVERED VACANT

 

UNITS

  • Two separate structures: (1) Four-plex and (1) Cottage
  • All units have separate front and rear entrances with access to central garden
  • Cottage unit has private fenced yard and private bonus room
  • All units individually metered for gas and electric
  • 9+ Ft. Ceilings in Four-plex units, vaulted ceilings in cottage
  • Hardwood floors throughout

 

LOCATION

  • Highly desirable Berkeley location
  • Located in quiet residential block between Telegraph and Shattuck
  • One block from the Berkeley Bowl and three blocks from Whole Foods
  • Within short walking distance to Alta Bates Medical & UC Berkeley
  • Excellent turn-key opportunity with major upside remaining in two units

 

CONSTRUCTION & RECENT RENOVATIONS

  • Original construction completed in approximately 1908 – APN 053-1686-009
  • Extensively renovated in 2016
  • The exterior of all structures have been completely repainted
  • Voluntary seismic retrofit to four-plex building
  • Replaced all windows with dual-paned vinyl frame Jeldwen Windows
  • Replaced all plumbing lines and valves
  • Replaced all electrical panels (main and sub-panels)
  • Replaced gas heating units in (3) of (5) units
  • Retextured & repaint walls, restore hardwood floors, replace carpet & fixtures in hallways
  • All new concrete and landscaping in common areas
  • Rebuilt parking / storage building (to be delivered vacant)
  • (3) of (5) units have brand new bathroom & kitchens – including full-sized stainless gas appliances, quartz countertops, cabinets, tile flooring & showers, fixtures, commodes, sinks, lighting, fans, windows, texture, two-tone paint and refinished hardwood floors
  • Building size estimated at 3,326 square feet / Parcel size approx. 6,850 sq. ft.
  • $1,895,000
  • 4.4% CAP on projected lease up values

 

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