BERKELEY, CA – APRIL 2016 – NAI Northern California, a member of the world’s premier managed network of commercial real estate firms, is pleased to announce the sale of 2607 Ellsworth, a 13-unit multifamily complex located in Berkeley, California. Shivu Srinivasan, Senior Investment Advisor, and Grant Chappell, Senior Vice President for NAI, represented both parties in the transaction.
Located four blocks south of the UC Berkeley campus, 2607 Ellsworth offers a strong mix of two bedroom/bathroom units with a penthouse unit featuring two rooftop decks. Ample retail and entertainment options and close proximity to public transportation coupled with a stable student rental market resulted in significant investor interest for the complex.
“With below market rents and spacious units, this complex offers a buyer considerable rental upside,” commented Shivu Srinivasan, Senior Investment Advisor for NAI. “We received multiple offers and were able to close within 45 days with very short contingencies.”
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