Chestnut Street, Alameda, CA, CA 94501
- $2,350,000
- List Price
- $2,350,000
- Status
- ACTIVE
- MLS#
- ML82048178
- County
- Alameda
- Zoning
- R-4
- Year Built
- 1898
- Square Feet
- 7,715
- Lot Size (acres)
- 0.21450000000000002
- Days on Market
- 68
- Property Type
- Commercial
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.
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Additional Information
- Taxes
- $36,972
- Parcel Number
- 0710269004000
- Gross Scheduled Income
- $257,919
- Utilities
- Other
- Heat
- Electric, Fireplace(s)
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Shingle
- Water
- Public
- School District
- Alameda City Unified
Listing courtesy of Listing Agent: Rachel Ivers (rachel.ivers@compass.com) from Listing Office: Compass.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.