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Listed by Perry Gastis, DRE #01928103 • Bridges 8 Real Property Sales & Management Inc
$1,395,000
Est. payment /mo
3,160 SqFt
New
1019 Channing WAY Berkeley, CA 94710
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,160 sqft
Price per Sqft $441
MLS Listing ID EB41153313
Year Built 1905
Lot Size 5,500 Sqft
Property Sub-Type Duplex
Source Bridge MLS
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
Area Berkeley Map Area 6
Interior
Heating Floor Furnace
Cooling Air Conditioning - None
Flooring Wood
Laundry In Laundry Room, Other
Exterior
Exterior Feature Stucco
Garage Spaces 2.0
Others
Tax ID 56-1934-17
Special Listing Condition New, Not Applicable
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