Central Apartments 1715 Central Ave 34 Unit Apartment Building $6,995,000 ($205,735/Unit) 7.61% Cap Rate Alameda, CA 94501

The Bay Area Multifamily Team of Colliers International is pleased to present 1715 Central Avenue; a 34-unit apartment community in Alameda, CA. It is conveniently located blocks from renowned Park Street retail corridor and South Shore Center which contain numerous luxury retailers and dining options. It is less than a mile from the Alameda Hospital and the Alameda Theatre & Cineplex.
The subject property was built in 1959 and features (34) residential units - (26) 1-Bedroom / 1-Bath units and (8) 2-Bedroom / 1-Bath units. The residents of 1715 Central Avenue benefit from being located near the various businesses of Alameda including Alameda Golf Works, Grand Market, Bay Area Biscotti Cookies, Blue Dot
Cafe & Coffee Bar, Encinal Nursery, Acapulco, and more. The property has a well-maintained courtyard, tuck-under parking, on-site laundry, an elevator, and large patios on the upper floor 2-Bedroom units. The property also provides convenient access to public transportation and major highways. It is 9 minutes from Lake Merritt BART Stations and 7 minutes from I-880.
The property is about a 20-minute drive from the heart of the San Francisco Financial District and can offer significant affordability when compared to premium 1-bedroom prices in San Francisco. As of August 2025, San Francisco rents average $3,084 for one-bedroom units and $4,231 for two-bedroom units. In comparison, the projected market rents at 1715 Central Avenue reflect discounts of approximately 34% and 43% for one- and two-bedroom units, respectively.