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Listed by Rachel Ivers • Compass
$2,350,000
Est. payment /mo
7,715 SqFt
Active
925 & 931 Chestnut Street Alameda, CA 94501
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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
AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO. Two (2) Charming Victorian-style apartments located on adjacent parcels located in Alamedas highly sought after Bronze Coast neighborhood. Excellent opportunity for value-add investors. Each property boasts five (5) units each: 925 CHESTNUT ST - (3) 1BR/1BA units, (1) 1BR/2BA unit, and (1) 2BR/1BA owners unit delivered vacant & 931 CHESTNUT ST (2) Studio, (2) 1BR/1BA, and (1) 2x1 unit. The owners unit at 925 Chestnut is currently vacant, allowing for immediate lease up at market rents. The portfolio delivers a 6.82% CAP RATE upon immediate lease-up of four (4) vacant units. Additional income potential exists through garage and tandem parking, and implementation of shared laundry for units currently without in-unit washer/dryers. Extensive renovations across some units at 925 & 931 Chestnut include full interior upgrades, new LVP flooring, interior paint, kitchen countertops and cabinetry. Major electrical improvements include brand new main panels, subpanels, and replacement of existing knob-and-tube wiring. 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
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