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Listed by Compass
$ 2,350,000
Est. payment /mo
Open 5/29 11AM-1PM
925 & 931 Chestnut Street Alameda, CA 94501
7,715 SqFt
Open House
Fri May 29, 11:00am - 1:00pm
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,715 sqft
Price per Sqft $304
MLS Listing ID ML82048178
HOA Y/N No
Year Built 1898
Lot Size 9,344 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property 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 after 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, subpanels, and replacement on knob-and-tube wiring at 931 Chestnut. Sewer lateral inspection has also been completed.
Location
State CA
County Alameda
Interior
Heating Electric, Natural Gas
Cooling None
Flooring Hardwood, Laminate, Tile
Fireplace No
Building
Water Public