1039 Channing Way
- Unit Mix: Exceptional configuration featuring one 2BD/1BA, one 1BD/1BA + office, one 1BD/1BA, and a private detached 1BD/1BA cottage
- Owner/Occupy Opportunity: One unit delivered vacant, creating an ideal opportunity for an owner-user or value-add investor
- Strong In-Place Income: $10,750 in monthly rent (Including RUBS) with a 5.95% cap rate and 11.23 GRM
- Renovations & Systems: All units fully remodeled with completed seismic retrofit, upgraded central heating, plumbing, and electrical systems, plus a new boiler
- Security & Amenities: Coded entry at the gate and each unit, on-site laundry room, and one-car garage
- Outdoor Improvements: Beautifully enhanced outdoor spaces with newly installed artificial turf, improved storage shed, dedicated garden area, and removal of the former pond to maximize usable outdoor space
- Outdoor Living: Inviting outdoor living and gardening areas that enhance tenant appeal and long-term livability
- Location: Prime Southwest Berkeley location close to shopping, dining, public transportation, and major commuter routes
Property Description
This exceptional Southwest Berkeley property offers a highly desirable unit mix consisting of one 2BD/1BA, one 1BD/1BA with office, one 1BD/1BA, and a private detached 1BD/1BA cottage. The layout provides flexibility for both investors and owner-users, with two units delivered vacant, allowing for immediate occupancy or repositioning. The property generates strong in-place income of $10,750 per month (including RUBS), translating to an attractive 5.95% cap rate and 11.23 GRM. With quality renovations already completed and stable cash flow in place, the asset offers both current income and long-term appreciation potential in one of Berkeley’s most sought-after neighborhoods. All units have been fully remodeled and the property has undergone a completed seismic retrofit, along with upgrades to central heating, plumbing, and electrical systems. A new boiler further enhances operational efficiency and minimizes near-term capital expenditure concerns. Residents enjoy secure and well-maintained amenities, including coded gate and individual unit entry, on-site laundry facilities, bicycle storage, and a one-car garage. The outdoor areas have been thoughtfully improved with newly installed artificial turf, an upgraded storage shed, a dedicated garden area, and the removal of a former pond to maximize usable outdoor space—creating inviting outdoor living and gardening areas that significantly enhance tenant appeal. Ideally located in prime Southwest Berkeley, the property is close to shopping, dining, public transportation, and major commuter routes, making it an outstanding opportunity for an owner-user or investor seeking a turnkey, high-quality asset with strong fundamentals.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,550,000 |
| No. of Units: | 4 |
| Year Built: | 1927 |
| Lot Size: | 0.09 Acres |
| Opportunity Zone: | No |
| Price per unit: | $387,500 |
| Property Website | Click Here |
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