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Property profile & analytics
OFF-MARKET
Estimated value
$12,285,000
Apartment buildings
2508 Channing Way Berkeley, CA 94704-2315
Entity Owned
7-yr Hold
Absentee Owner
Property ID
US09-8459717
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2021
Construction
WOOD
Total area
54,788 SF
Lot
0.2 ac (8,740 SF)
APN
55-1875-8
UPID
US09-8459717
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Purple Kow Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.76M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.29M
Owner & transaction history
Thelma & Louise No2 LLC · 7 yrs held
Thelma & Louise No2 LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$19.8M
+1.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Berkeley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$18,150,000
6.5%
$16,755,000
7%
$15,555,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$19,525,000
Current use
RETAIL STORES
$19,805,000
Change: +1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,645,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$12.29M
Range $11.06M – $13.51M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$224 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$525,978
Tax year 2023
Assessed value
$36,505,465
Assessed 2024
Previous assessed
$35,513,932
+2.8% YoY
Effective rate
1.44%
On assessed value
Assessed land
$3,412,292
Assessed improvement
$33,093,173
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2021
Construction
WOOD
Heating
NONE
Buildings
1
Stories
8
Units
40
Total area
54,788 SF
Lot
0.2 ac (8,740 SF)
APN
55-1875-8
UPID
US09-8459717
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$19.5M
RETAIL STORES
Est. value
$19.8M
AUTO REPAIR, GARAGE
Est. value
$17.6M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2021
Construction
WOOD
Heating
NONE
Stories
8
Buildings
1
Units
40
Lot
0.2 ac
Current owner
From public records · entity-resolved
Thelma & Louise No2 LLC
Entity
Mailing address
164 OAK RD, ALAMO, CA 94507-2761
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2021
—
Thelma And Louise No LLC
—
Deed
related
$27,000,000 · Usaa Life Insurance Company
Nov 30, 2018
—
Thelma & Louise No 2 LLC
—
Grant Deed
related
$24,000,000 · Bank Hapoalim Bm
Nov 20, 2018
—
Thelma & Louise No2 LLC
Thelma & Louise No1 LLC
Quit Claim Deed
—
Apr 28, 2017
$3,000,000
Thelma & Louise 1 LLC
Channing Way 2003 LLC
Grant Deed
$2,250,000 · Bank Of The Orient
Oct 12, 2007
—
Channing Way 2003 LLC
Jim Chim Wong
Grant Deed
$1,575,000 · Washington Mutual Bank
Sep 8, 2004
$2,399,000
Jim C Wong
Highway 61
Grant Deed
$1,560,000 · United Commercial Bank
Dec 30, 1983
$200,000
—
—
Grant Deed
related
—
—
—
California LP
—
Deed Of Trust
related
$750,000 · Sumitomo Bank Of California
—
—
Highway 61 LP
—
Deed Of Trust
related
$1,000,000 · United Commercial Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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