120 Bed Student Housing Investment Near UC Berkeley

02-18-2022
04-15-2022

2490 Channing Way, Berkeley, CA 94704

  • ​Steps From UC Berkeley, The Number 1 Public University in the World
  • ​No City of Berkeley Rent Control - Rent Per Bed Execution Is the Market Norm and Allows For Stable Occupancy
  • ​Telegraph Commons Provides Major Discount to Market With Huge Opportunity for Rental Income Upside
  • ​Potential For Operational Upside That Will Lead To Increased Net Operating Income With Little Investment
  • ​Tenants have Convenient Access to All Public Transportation Options While also Being Located in the Amenity Rich Southside Neighborhood
  • ​Major Building Improvements Completed On All Residential Floors In 2020/2021

Property Description

CALL FOR OFFERS - Wednesday, March 2nd by 3:00 PM

TOUR SCHEDULE - Tours Are Available by Appointment Only On The Following Dates & Times
- Tuesday, February 22nd from 11:00 AM to 2:00 PM
- Thursday, February 24th from 11:00 AM to 2:00 PM
- Tuesday, March 1st from 11:00 AM to 2:00 PM

Telegraph Commons, located at 2486-2492 Channing Way and 2400-2404 Telegraph Avenue, is a five-story, 120-bed, mixed-use student housing investment property that was built in 1923 and has undergone upgrades throughout the years and most recently in in 2020/2021.​ The property is situated at the Southwest corner of Telegraph Avenue and Channing Way and is just 2 blocks from the University of California, Berkeley Campus, the number 1 public university in the world according to US News and the number 1 university in America per Forbes’ 2021 list of America’s top colleges.

Telegraph Commons is geared toward student housing and totals 64 residential rooms with a total of 120 beds.​ The residential rooms are offered for lease by the bed as singles, doubles, or triples and features a unit mix of 16 single occupancy rooms, 40 double occupancy rooms, and 8 triple occupancy rooms.​ The residential rooms are all-inclusive and come with cable television, fiber optic ethernet, a mini-fridge, a sink* and are also fully furnished with a bed, a desk, a dresser, and an armoire for each resident.​ The property also features fantastic community amenities including a common kitchen and flex space, co-ed bathrooms, quiet study rooms, an on-site laundry facility, and controlled access.​ Telegraph Commons also offers convenient access to 5 on-site commercial spaces totaling ±5,186 sq.​ ft.​ that are all currently leased and occupied by: Gordito Amigos, Delhi Diner, Edge Hair Salon, Chinese Express, and Jun Park D.​D.​S.​, a general and cosmetic dentistry office.​

Telegraph Commons’ proximate location to the UC Berkeley campus makes it a desirable housing option for students attending the university.​ The property is just a five-minute walk from Sproul Plaza and Sather Gate, the main entrance of the central campus.​ Students residing at Telegraph Commons will benefit from direct access to Telegraph Avenue and Durant Avenue, the main commercial corridors for the Southside Neighborhood.​ The property has been designated as a Walker’s Paradise (99 Walk Score) and a Biker’s Paradise (92 Bike Score) by walkscore.​com.​

With its exceptional location and neighboring amenities, Telegraph Commons offers a rare opportunity to acquire a 100% student-focused investment opportunity that will continue to see unprecedented rent growth in one of the most undersupplied college towns in the United States.​       

*In Select Units

Key Property Information

Listing Status
Under Contract
Listing Type
Call for offers
Multifamily type
Mixed-Use
No. of Units
69
Year Built
1923
Year Renovated
2017
Building Size
25,787 Sq ft
Lot Size
6,534 Sq ft
No. of Stories
5
APN
055-1880-001-00
Opportunity Zone
Off
Price per unit
$ 0
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