West Berkeley Multifamily
835 Channing Way, Berkeley, CA 94710
Three-building multifamily property in West Berkeley with significant rental upside.
Type:Multifamily
Property size:
11,350 SFLot size:
0.49 AcresPrice / SF:
$286/SF- Added:
- May 15, 2026
- Days on Market:
- 17
- Last Refresh:
- May 16 at 8:39 pm
Property Features for 835 Channing Way
General Information
- Standard status
- Active
- Size
- 11,350 SF
- Lot size
- 0.49 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1955
Listing agent Matt Treadway License #CA 01706866
Listing office The Lapham Company, Inc.
Listing date May 15, 2026
Source Crexi
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.
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.
- Units are well‑maintained and tastefully updated.
- High occupancy and ease of renting units.
- Significant rental upside potential (over 30%).
Overview
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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $431.8k | $38.04 |
| − Vacancy | −$21.6k | −$1.90 |
| EGI | $410.2k | $36.14 |
| − OpEx | −$184.6k | −$16.26 |
| NOI | $225.6k | $19.88 |
11,350 SF · lease $38.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.22M
$2.82M – $3.76M
NOI $225,591 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.39M
$3.84M – $5.12M
NOI $307,267 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Berkeley
- County
- Alameda
- State
- California
- Longitude
- -122.2950526
- Latitude
- 37.8621248
Nearby Similar for Sale
FAQs
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 $3,250,000.
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.
