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Listed by BHHS Drysdale Properties
$ 1,625,000
Est. payment /mo
Active
954 Park St Alameda, CA 94501
4,104 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,104 sqft
Price per Sqft $395
Subdivision Park St District
MLS Listing ID 41109306
HOA Y/N No
Year Built 1910
Lot Size 7,421 Sqft
Property Sub-Type 5 or More Units
Source BAY EAST
Property Description
Incredible SixPlex investment property with potential to build two Accessory Dwelling Units (ADUs). The current units are of varying sizes, but are all one bedroom and one bath. Hardwood floors, high ceilings, recently upgraded electrical, and charming detail in each unit. By adding two potential ADUs, in the backyard, at approximately 800 sf each with projected rents of $76,800/year the NOI goes to $161,500 and the CAP rate goes to 9.94%. The potential development, the the size of the ADUs, potential rents, NOI and CAP rate are not guaranteed by the seller nor the seller's broker. All buyers must complete their own investigation with the City of Alameda and come to their own conclusions. In the rear of the property there is a large yard and parking area that is shared by the tenants. In addition to the main driveway there is a north side walkway that runs the length of the property. The landlord pays for water and garbage for each unit. The Tenant pays electric and gas. The backyard/parking area is approximately 50' x 54'.
Location
State CA
County Alameda
Interior
Heating Other
Cooling None
Flooring Linoleum, Partial Carpeting
Fireplace No
Appliance Tankless Water Heater
Building
Lot Description Level, Rectangular Lot, Back Yard, Landscaped