Properties

Comm Ri Multi-units 5+ For Sale

6,024 Sqft - 2875 California Street, BERKELEY, California 94703

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Property Description

2875 California Street is a ±1957 vintage, eight unit, multifamily property in a strong Berkeley rental market. The building is ±6,024 SF on a ±10,195 SF parcel. All two bedroom units, averaging ±750 SF, with desirable floor plans. Individual PG&E. Gas wall heat and stoves. Separate water meters and heaters. Fully parked. Owned laundry. The 2875 California Street location is in a Berkeley area of strong rental demand. Proximity to BART, freeways and public transit is good. Just 8 minutes, 1.6 miles to Cal. Community retail and services are nearby. Contiguous 1611 Russell Street, 10+ units, is on the market at $2,500,000. Combined, 2875 California and 1611 Russell is 18+ units offered at $4,600,000, equating to $255,556 a unit and a ±5.0% cap rate. Please, see the attached documents for the Offering Memorandum.

Basic Details
Property Type : Comm Ri Multi-units 5+
Listing Type : For Sale
Listing ID : 40884765
Price : $2,100,000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 6,024 Sqft
Year Built : 1957
Lot Area : 0.23 Sqft
Features
Heating System : Gas, Wall Furnace
Roof : Unknown
Address Map
Country : US
State : CA
County : Alameda
City : BERKELEY
Zipcode : 94703
Street : California Street
Street Number : 2875
Floor Number : 0
Longitude : W123° 43' 22.7''
Latitude : N37° 51' 20.4''
MLS Addon
Office Name : CB RICHARD ELLIS
Building Type : Lowrise (1-3 Flrs)
Area : Berkeley Map Area 3
Address : 2875 California Street
Cross Street : Russell Street
Directions to Property : California off Ashby
LA1User Code : R00344320
LA1Agent First Name : RICHARD
LA1Agent Last Name : THOMPSON
Status Category : Sold
Tot # Parking Spaces : 8
Tot # of Units : 8
Zoning : R-2A
List $/SqFt : $349
Age : 62
Apx Lot Sq Ft : 10,195 Sqft
Type of Building : Apt Complex
Annual Taxes : $34,093
Total Deposits : $0
ADDTL FEATURES MISC. : Wired For Cable Tv
ALL UNITS HAVE : Oven Range Free Standing, Refrigerator
EQUIPMENT ADDITIONAL : Water Heater Gas
EXTERIOR : Stucco
FLOORING : Linoleum, Hardwood Floors
LOT DESCRIPTION : Regular
ON-SITE PARKING DESC : Parking Area, Space Per Unit - 1
OPERATING EXPENSES : Electric, Gas, Insurance, Maintenance/repair, Management, License/ads, Property Tax/assessments, Trash Removal, Utilities, Vacancy Factor, Water
SEPARATE METERS : Electric, Gas, Water
TENANT PAYS : Cable Tv, Electric, Gas, Water
WATER/SEWER : Water - Public, Sewer System - Public
LAUNDRY : Coin Operated, Laundry Equip - Owned, Common Room
Census Tract : 4234.00
Bus Sq Ft of Bldg : 0 Sqft
Other Loans (Y/N) : No
1st Loan Balance : $9,400
2nd Loan Balance : $188,115
Tot Other Loans : $1,000
Financial Data Verif(Y/N) : ±5.2%
FINANCIAL DATA SOURCE : Owner
Ann Act Gross Inc : $0
Gross Oper Actual Inc : $0
Listing Type : Excl Right
Listing Service : Full Service
Special Information : None
Original Price : $2,100,000
Sold Price : $2,178,000
Previous Price : $2,100,000
Sale $/SqFt : $0
Comm Ri Multi-units 5+ For Sale
  • Listing ID : 40884765
  • Bedrooms : 0
  • Bathrooms : 0
  • Square Footage : 6,024 Sqft
$2,100,000
Agent info
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