1019 Channing Way, Berkeley, CA 94710
1019 Channing Way, Berkeley, CA 94710
1019 Channing Way, Berkeley, CA 94710
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Natalie Elenes

Natalie Elenes

+1(805) 612-7149
$1,395,000
Est. payment /mo
5,501 Sqft Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Subdivision Central Berkeley

MLS Listing ID 41153313

HOA Y/N No

Year Built 1905

Lot Size 5,501 Sqft

Property Sub-Type Duplex

Property Description

Income today, a home of your own tomorrow. 1019 Channing Way delivers $132,982 in gross scheduled income and $92,209 NOI, a 6.61% cap rate at list price, from a lower unit plus an upper level of five individually leased rooms and shared laundry. Berkeley's 2027 AGA lifts the projected cap rate to 6.85%. The headline, though, is the detached 2+ car garage: reserved for owner use only, not part of any tenancy, and delivered vacant. Under Berkeley Municipal Code Chapter 23.306 a garage may be converted to an ADU within its existing footprint, including nonconformities. Investors get a performing asset with a built in second phase. Owner users get a rare path to creating a private residence at the rear of the lot while the rents carry the property. West Berkeley location steps from San Pablo Avenue, minutes to Fourth Street, Berkeley Bowl West and the freeway. Income and expense summary available. ADU potential to be verified by buyer with City of Berkeley Planning. Shown by appointment; please do not disturb occupants.

Location

State CA

County Alameda

Interior

Heating Floor Furnace

Flooring Wood

Fireplace No

Exterior

Total Parking Spaces 2

Building

Lot Description Corner Lot

Others

Tax ID 56193417

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Listed by Perry Gastis Bridges 8 Real Property Sales & Management Inc #01928103

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