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Fine Group Real Estate
1019 Channing Way, Berkeley, CA 94710
- $1,395,000
- 3,160
- SqFt
Listed by Perry Gastis, (510) 833-8524 from Bridges 8 Real Property Sales & Management Inc
(If provided) CoList: Theresa Arrona from Bridges 8 Real Property Sales & Management Inc
- List Price
- $1,395,000
- MLS#
- EB41153313
- Status
- ACTIVE
- Sqft. of Residence
- 3,160
- Lot Size
- 5,500
- Listing Area
- Berkeley Map Area 6
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.
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Additional Information
- Acres
- 0.13
- Amenities
- Other
- Cooling System
- Air Conditioning - None
- Exterior Features
- Stucco
- Floor Covering
- Wood
- Heating System
- Floor Furnace
- Laundry Facilities
- In Laundry Room, Other
- Living Area
- 3,160
- Lot Size
- 5,500
- Neighborhood
- Berkeley Map Area 6
- Numberof Units
- 2
- Unincorporated Yn
- Yes
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The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Fine Group Real Estate are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.
Based on information from MLSListings MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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