Property Detail

Description

Charming Victorian-style apartment property located in Alamedas highly sought after Bronze Coast neighborhood. Excellent opportunity for investors, owner-occupants, multigenerational families, or buyers seeking additional space for home offices, guest accommodations, or supplemental income opportunities. The property features a diverse unit mix consisting of (3) 1BR/1BA units, (1) 1BR/2BA unit, and (1) 2BR/1BA owners unit delivered vacant, allowing for immediate lease up at market rents. The property delivers a 6.91% CAP RATE upon occupancy of vacant units. Additional income potential exists through garage and tandem parking, on-site storage, (possible ADU conversion of storage areas), and implementation of shared laundry for units currently without in unit washer/dryers. Recent capital improvements and interior upgrades include new LVP flooring, interior paint, cabinetry, and countertops in Unit E, along with a new dishwasher in the vacant owners unit. Major electrical improvements include brand new main panels and subpanels. Sewer lateral inspection has also been completed.