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
