West Berkeley Multifamily
For Sale
Contact for pricing
835 Channing Way, Berkeley, CA 94710
Three-building multifamily property in West Berkeley with significant rental upside.
Property Size11,350 SF
Lot Size0.49 Acres
Price / SF$259.91
Days on Market155
Property Features for 835 Channing Way
General Information
Standard status
Active
Size
11,350 SF
Total Parking Spaces
14
Lot size
0.49 Acres
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$177,970
Building Details
Year Built
1955
Buildings
3
Stories
2
Units
14
Tenancy
Multi
Listing Agency:
The Lapham Company, Inc.
Listed By:
Matt Treadway · License #CA 01706866
(510) 594-7600
Source:
Crexi
Added: May 15
Changed: Oct 3
Last Checked: Oct 16 at 7:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Lapham Company, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This West Berkeley property, on the market for the first time in almost 35 years, consists of three separate structures on a lot that is almost half an acre. The property at 2348 7th Street contains four two-bedroom, one-bath units. The building at 835 Channing Way includes six units, with five two-bedroom, one-bath units and one three-bedroom, one-bath unit. The third building contains four two-bedroom, one-bath units. The units have been tastefully renovated as tenants have moved out. The property features large units that rent easily and has over 30% rental upside for the new ownership.
Key Highlights
- Large lot size of almost half an acre.
- Property consists of three separate buildings with multiple units.
- Mix of unit types: two‑bedroom and three‑bedroom apartments.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,591
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,511,820
$4.5M
Cap Rate 7%
$3,222,729
$3.2M
Cap Rate 9%
$2,506,567
$2.5M
Market Conditions
NOI Build-Up for 11,350 SF
Gross rent
$431.8K $38.04/SF
− Vacancy
−$21.6K −$1.90/SF
EGI
$410.2K $36.14/SF
− OpEx
−$184.6K −$16.26/SF
NOI
$225.6K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,511,820
Cap Rate 7%
$3,222,729
Cap Rate 9%
$2,506,567
Alternative Uses
Best Use
Apartment 5plus
$3.22M
$2.82M – $3.76M
NOI $225,591 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.39M
$3.84M – $5.12M
NOI $307,267 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,359
Businesses Nearby
Explore this area
Business Placement
Demographics for 94710, CA
9,552
Population
4,105
Households
2.3
Avg Household Size
38
Median Age
65%
College-Educated
92%
High-School Grad
2.2 sq mi
ZIP Area
4,342
Density / Sq Mi
$118,007
Median Household Income
$67,117
Median Earnings
$2,546
Median Rent
$1,084,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property in West Berkeley with significant rental upside.
Where is this apartment building located?
The property is located at 835 Channing Way Berkeley, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Large lot size of almost half an acre.; Property consists of three separate buildings with multiple units.; Mix of unit types: two‑bedroom and three‑bedroom apartments.
