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Listed by Joey Wang • Keller Williams Realty • 925-934-2900
$ 995,000
Est. payment /mo
New
2214 Channing Way Berkeley, CA 94704
2,909 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 2,909 sqft
Price per Sqft $342
Subdivision Berkeley Central
MLS Listing ID 41147827
HOA Y/N No
Year Built 1905
Lot Size 4,500 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
Two blocks to Cal. One block to Shattuck. Seven residential units plus a separate office space, fully occupied, in a 1905 Colonial Revival on a 4,500 SF lot. Six studios and one two-bedroom — private units in a submarket where shared houses dominate. $167,520 annualized gross income against a $1,100,000 asking price: a 7.8% cap at a 6.6 GRM going in, 9.7% and 5.6 at market as units turn. Two Berkeley Housing Authority tenancies pay roughly $3,387 monthly direct. Landlord carries all utilities across a master-metered building. A three-car tandem driveway sits unleased, the basement holds unallocated storage, and there is no laundry on site — three revenue lines absent from the rent roll. The parcel sits inside a Tier 1 transit zone and a campus development zone. $157,000 per unit, two blocks from the UC Berkeley campus.
Location
State CA
County Alameda
Interior
Heating Floor Furnace
Cooling None
Flooring Hardwood, Tile, Vinyl, Carpet
Fireplace No
Building
Lot Description Paved
Water Public
Others
Special Listing Condition Standard
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