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Listed by Joey Wang, DRE #01890931 • Keller Williams Realty
$ 995,000
Est. payment /mo
New
2214 Channing WAY Berkeley, CA 94704
2 Beds
2 Baths
2,909 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 2,909 sqft
Price per Sqft $342
MLS Listing ID EB41147827
Bedrooms 2
Year Built 1905
Lot Size 4,500 Sqft
Property Sub-Type Five or More Units
Source Bridge MLS
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
Area Berkeley Map Area 9
Zoning R-3
Interior
Cooling None
Flooring Tile, Vinyl, Carpet - Wall to Wall, Hardwood
Exterior
Exterior Feature Wood Shingles, Siding - Wood , Wood Frame
Parking Features Tandem Parking
Garage Spaces 1.0
Roof Type Composition
Building
Water Heater - Gas
Others
Tax ID 55-1888-26
Special Listing Condition New, Not Applicable
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