2214 Channing Way, Berkeley, CA 94704
- $995,000
- 2,909
- SqFt
- List Price
- $995,000
- Status
- ACTIVE
- MLS#
- 41147827
- Year Built
- 1905
- Property Type
- 5 Or More Units
- Living Area
- 2,909
- Lot Size
- 4,500
- Acres
- 0.10
- County
- Alameda
- Subdivision
- Berkeley Central
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.
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Additional Information
- Exterior
- Frame, Wood Shingles, Wood Siding
- Flooring
- Hardwood, Tile, Vinyl, Carpet
- Lot Description
- Paved
- Parking Features
- Tandem
- Roof
- Composition Shingles
- Water Sewer
- Public
Mortgage Calculator
Listing courtesy of Joey Wang from Keller Williams Realty. 510-592-5554
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