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$1,395,000
Est. payment /mo
5,501 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Central Berkeley
MLS Listing ID 41153313
HOA Y/N No
Year Built 1905
Lot Size 5,501 Sqft
Property Sub-Type Duplex
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
Interior
Heating Floor Furnace
Flooring Wood
Fireplace No
Exterior
Total Parking Spaces 2
Building
Lot Description Corner Lot
Others
Tax ID 56193417
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Listed by Perry Gastis Bridges 8 Real Property Sales & Management Inc #01928103
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