| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 50th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2601 Channing Way, Berkeley, CA, 94704, US |
| Region / Metro | Berkeley |
| Year of Construction | 1972 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2601 Channing Way Berkeley Multifamily Investment
This 33-unit Berkeley property benefits from strong rental demand in a high-income neighborhood with 60% renter occupancy, according to CRE market data from WDSuite.
The property sits in a B+ rated Urban Core neighborhood ranking in the top quartile nationally for net operating income per unit at $18,830 average. With median household incomes reaching $95,072 and 60.2% of housing units renter-occupied, the area demonstrates consistent rental demand fundamentals.
Built in 1972, this property predates the neighborhood's 1935 average construction year, presenting potential value-add opportunities through strategic capital improvements. The immediate area benefits from exceptional amenity density, ranking 9th among 469 metro neighborhoods for cafes and 5th for pharmacies per square mile, supporting tenant retention through walkable convenience.
Demographics within a 3-mile radius show a population of 194,660 with strong income diversity - 31% of households earn above $200,000 annually while 54% are renter-occupied units. Five-year projections indicate household growth of 39% and median rent increases to $2,811, suggesting sustained multifamily demand as elevated home values ($1.1M median) reinforce rental market reliance.
Current neighborhood occupancy sits at 87.3%, though this reflects a modest decline from prior years. Median contract rents of $2,130 position the submarket competitively within the broader Oakland-Berkeley metro, with rent-to-income ratios indicating affordability pressure that requires careful lease management consideration.
Property crime rates in this Berkeley neighborhood rank 449th among 469 metro neighborhoods, placing it in the bottom quartile locally with an estimated rate of 7,125 incidents per 100,000 residents. Violent crime shows similar patterns, ranking 432nd metro-wide with recent year-over-year increases of 83%.
While crime metrics present challenges relative to metro averages, investors should consider the broader context of urban core locations and implement appropriate security measures and tenant screening protocols as part of comprehensive property management strategies.
The Berkeley location provides access to major Bay Area corporate headquarters within commuting distance, supporting professional renter demand from diverse industries.
- Clorox — consumer goods (4.5 miles) — HQ
- Gap — retail corporate offices (9.1 miles) — HQ
- Salesforce.com — technology services (9.1 miles) — HQ
- Charles Schwab — financial services (9.2 miles) — HQ
- Wells Fargo — banking headquarters (9.5 miles) — HQ
This 1972-built Berkeley property offers value-add potential in a high-income urban core neighborhood with strong fundamentals. The 33-unit asset benefits from exceptional NOI performance ranking in the top 3% nationally at $18,830 per unit average, while 60% renter occupancy and proximity to major Bay Area employers support tenant demand. Multifamily property research indicates household growth projections of 39% over five years, with median rents forecast to reach $2,811.
The property's 1972 vintage presents renovation upside compared to the neighborhood's older housing stock, while elevated home values exceeding $1.1 million median reinforce rental market reliance. However, investors should monitor occupancy trends given the neighborhood's recent decline to 87.3% and implement proactive management strategies to address crime concerns that rank below metro averages.
- Top 3% nationally for NOI per unit performance at $18,830 average
- Value-add opportunity with 1972 construction in older neighborhood stock
- Strong renter demand supported by 60% rental occupancy and high home values
- Projected 39% household growth and rent increases to $2,811 by 2028
- Risk consideration: Monitor occupancy trends and implement security measures for crime management