2023 Channing Way - Apartments FOR SALE


Berkeley, CA 94704- Downtown Berkeley
$3,600,000 USD
510-336-4721
2023 Channing Way, Berkeley, CA for Sale
$3,600,000 USD
Apartments - FOR SALE
1/13
null | 5.2% Cap Rate

2023 Channing Way
Berkeley, CA 94704
Downtown Berkeley


HIGHLIGHTS

  • 2011 Rebuild
  • New foundation, plumbing, electrical, roof and siding
  • Low maintenance and vacancy
  • High demand student housing asset
  • Three blocks to UC Berkeley, the nation's #1 Public University

OVERVIEW

Team Chappell is pleased to present for sale 2023 Channing Way, a newly constructed, turnkey multifamily property. The subject property consists of six spacious units, all remodeled down to the studs in 2011. The entire property was rebuilt and expanded from it's original floor plan. Two of the units are not subject rent control as the city recognizes as new construction. Since completion, the property has operated with minimal maintenance or vacancy due to the unique layout, location and high construction quality. This is truly a unique opportunity to purchase an irreplaceable property close to UC Berkeley. Ideally located three blocks to UC Berkeley's Southwest corner, 2023 Channing is situated in the heart of one of Berkely's most desirable neighborhoods. Residents are walking distance (0.5 Miles) from campus and less than one block from the myriad of retail and dining options along Shattuck Avenue. Downtown Berkeley BART is located less than a 5-min walk, making this an ideal location for students and young professionals looking to commute around Berkeley and the surrounding Bay Area. With a 98 Bike Score and 97 Walk Score, this highly sought after location continues to command premium rents and near zero vacancy.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$897 USD /SF

# OF UNITS

6

PRICE/UNIT

$600,000

CAP RATE

5.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1897

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,238 SF

ZONING

R-4

APN/PARCEL ID

055-1895-008-00

ASK ABOUT THIS PROPERTY

Grant ChappellNAI GlobalMore Info
510-336-4721

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Grant ChappellNAI GlobalMore Info
510-336-4721

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.