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1527 8th St
Alameda, CA 94501
Multifamily Property For Sale
·
5 Units
Executive Summary
1527 8th Street, Alameda, CA offers discerning buyers the chance to own a stable multifamily asset in a coveted location, just two-blocks from the vibrant amenities of Webster Street.
Astute investors will appreciate not only the superb location, but also the low historical vacancy, minimal maintenance requirements, embedded rental upside available upon tenant turnover, and robust overall appreciation potential.
The unit mix consists of one (1) studio; two (2) one-bedroom one-bath apartments; one (1) two-bedroom one-bath apartment; plus a free-standing one-bedroom one-bath cottage featuring its own generous secluded garden area at the rear of the property.
Residents enjoy a generous and attractive common area garden space at the middle of the parcel. The main building also includes a spacious basement area with bike parking for tenants, two large storage areas, and a coin operated laundry machine and dryer. There is also a private enclosed garage which beckons for a potential future owner-occupant.
Each unit is separately metered for gas and electricity, with the owner responsible only for common area electricity, water, and refuse services.
Numerous improvements have been completed over the years, including high-end interior renovations. The kitchens and bathrooms in several units were updated with custom cabinetry, countertops, and built-ins. The rear cottage was completely renovated in 2022, including updated kitchen and bath.
Astute investors will appreciate not only the superb location, but also the low historical vacancy, minimal maintenance requirements, embedded rental upside available upon tenant turnover, and robust overall appreciation potential.
The unit mix consists of one (1) studio; two (2) one-bedroom one-bath apartments; one (1) two-bedroom one-bath apartment; plus a free-standing one-bedroom one-bath cottage featuring its own generous secluded garden area at the rear of the property.
Residents enjoy a generous and attractive common area garden space at the middle of the parcel. The main building also includes a spacious basement area with bike parking for tenants, two large storage areas, and a coin operated laundry machine and dryer. There is also a private enclosed garage which beckons for a potential future owner-occupant.
Each unit is separately metered for gas and electricity, with the owner responsible only for common area electricity, water, and refuse services.
Numerous improvements have been completed over the years, including high-end interior renovations. The kitchens and bathrooms in several units were updated with custom cabinetry, countertops, and built-ins. The rear cottage was completely renovated in 2022, including updated kitchen and bath.
Property Facts
| Price Per Unit | $330,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 4.09% | Building Size | 3,140 SF |
| Gross Rent Multiplier | 14.72 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1912/2020 |
| Property Subtype | Apartment | Parking Ratio | 0.32/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-5 | ||
| Price Per Unit | $330,000 |
| Sale Type | Investment |
| Cap Rate | 4.09% |
| Gross Rent Multiplier | 14.72 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,140 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1912/2020 |
| Parking Ratio | 0.32/1,000 SF |
| Zoning | R-5 |
Amenities
Unit Amenities
- Microwave
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 475 |
| 1+1 | 3 | - | 550 - 650 |
| 2+1 | 1 | - | 915 |
Property Taxes
| Parcel Number | 073-0419-006-00 | Improvements Assessment | $1,057,061 |
| Land Assessment | $504,070 | Total Assessment | $1,561,131 |
Property Taxes
Parcel Number
073-0419-006-00
Land Assessment
$504,070
Improvements Assessment
$1,057,061
Total Assessment
$1,561,131
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