The Lapham Company, Inc.
Listed by The Lapham Company, Inc.
$3,250,000
835 Channing
Details
APN 56-1941-12-1
Property Type Multifamily
Square Footage 11,350
Units 14
Cap Rate 5.48%
NOI $177,970
Tenancy Multi
Pro-Forma Cap Rate 8.65%
Pro-Forma NOI $281,277
Price per SqFt $286
Year Built 1955
Buildings 3
Stories 2
Lot Size (SqFt) 18,144
Parking Spaces 14 spaces
Parking per 1,000 SqFt 1.23
Investment Type Value Add
Multifamily | 5.48% CAP | 14 Units
Marketing description
On the market for the first time in almost 35 years! Current ownership has taken amazing care of this West Berkeley "compound". The lot is almost half an acre with the property consisting of three separate structures all with different addresses. 2348 7th Street is has (4) two bedroom/one bath units. 835 Channing Way is a six unit building with (5) two bedroom/one bath units and (1) three bedroom/one bath unit. The last building is (4) two bedroom/one bath units.
Units have been tastefully turned over as tenants have left and sense of pride of ownership is felt when you walk the property. The property boast large units that rent easily. The property has over 30% rental upside for the new ownership!!
Investment highlights
- On the market for the first time in almost 35 years!
- The lot is almost half an acre with the property consisting of three separate structures all with different addresses
- Units have been tastefully turned over as tenants have left and sense of pride of ownership is felt when you walk the property
- The property boast large units that rent easily
- The property has over 30% rental upside for the new ownership!!
- Conveniently located in West Berkeley boasting at Walkscore of 90 and BikeScore of 98!
- 4th Street shopping district being just a short distance away
- Easy access to I-80 for commuting
Listing Contacts
The Lapham Company, Inc.
Listed by The Lapham Company, Inc.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$177,970.00
$14,830.83/mo
Valuation Metrics
0
DSCR
5.48%
Cap Rate
5.48%
ROI
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