• Asking Price: $1,195,000
• The Property Features Two (2) Separate Building Comprised of Five Units Featuring Two 2bd/1bth Units and Three 1bd/1bth Units Set on a 6,992 SF Lot w/ Space in the Back for ADU's
• The Property may be Delivered Fully Vacant and can be Renovated and Rented at Market Rents w/ RUBS to Cover Utility Expenses
• Prime South Berkeley Location - Close to Popular Restaurants, Cafes, Public Transportation, Parks, and Shopping Options
• Offered at a Low Basis w/ Upside to be Captured by Value-Add Investors
• Highest Cash Flow Property Available in Berkeley - Perfect for Stabilization and Refinance as Interest Rates Drop

OFFERING SUMMARY

COUNTY: Alameda
BUILDING SF: 3,017 SF
LAND SF: 6,992 SF
NUMBER OF UNITS: 5
YEAR BUILT: 1905
APN: 53-1609-23

FINANCIAL SUMMARY

PRICE: $1,195,000
PRICE PSF: $396.09
PRICE PER UNIT: $239,000
OCCUPANCY: 98.00%
NOI (CURRENT): $110,101
NOI (PRO FORMA): $110,101
CAP RATE (CURRENT): 9.21%
CAP RATE (PRO FORMA): 9.21%
GRM (CURRENT): 7.75
GRM (PRO FORMA): 7.75

PROPOSED FINANCING

DOWN PAYMENT: $478,000
LOAN AMOUNT: $717,000
INTEREST RATE: 8.75%
LOAN TERMS: 12 Months
ANNUAL DEBT SERVICE: $62,738
LOAN TO VALUE: 60%

Property Overview
• 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.

Location Overview
• Located just minutes from Downtown Berkeley, South Berkeley encompasses part of historic Rancho San Antonio and has become a hub for sports and trendy apartments. The neighborhood boasts attractions like the Ashby Stage, a popular venue for shows, and the renowned Berkeley
Bowl supermarket. Adeline Street is the center for dining, nightlife, and easy transit access via the Ashby BART Station. Residents enjoy Grove Park, which offers various outdoor amenities including sports courts and a playground. Living in South Berkeley places you close to the University of California, Berkeley, and only five miles from Oakland, ensuring a vibrant and convenient lifestyle.