1019 Channing WayBerkeley, CA 94710
CENTRAL BERKELEY · Alameda County
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.
Property Information
- Property type
- Residential Income
- Sub-type
- Duplex
- Year built
- 1905
- Lot size
- 0.13 acres
- Parking spaces
- 2
- Days on market
- 2
- MLS® Listing#
- 41153313
Property Features
- Heating
- Floor Furnace
- Flooring
- Wood
- Lot features
- Corner Lot
- Construction
- Stucco
- Parcel number
- 56193417
Directions
Cross Street: 10th St.
Listing Courtesy: Bridges 8 Real Property Sales & Management Inc - 5108338524
Presented by: Perry Gastis and Theresa Arrona
Licensed in the state of California.
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