2051 Shoreline Dr
Alameda, CA 94501
Waterfront Apartments · Multifamily Property For Sale · 45 Units

The Waterfront Apartments is a 45-unit multifamily community positioned along Alameda’s shoreline at 2051 Shoreline Drive, directly across from Alameda Beach and the San Francisco Bay. The property benefits from a highly desirable coastal setting with bay views, immediate access to waterfront recreation, and convenient connectivity to Alameda’s major retail and commercial districts. Residents are within walking distance of the South Shore Shopping Center and have convenient access to Park Street, Webster Street, AC Transit service, ferry connections, and regional employment centers throughout Oakland and San Francisco.
The community consists primarily of one-bedroom and two-bedroom residences and features gated covered parking, on-site owned laundry facilities, security cameras, visitor keypad entry, a covered trash enclosure, and a renovated swimming pool and courtyard. Ownership has completed exterior painting, pool and courtyard improvements, and previously replaced the roof in 2015 with a reported 25-year warranty. The property’s bayfront orientation and established resident amenities contribute to its long-term appeal within the Alameda rental market.
From an investment perspective, the offering presents a value-add opportunity supported by demonstrated rental growth potential. Marketing materials indicate current rents trail nearby comparable properties, while the highest achieved leases within the property suggest additional upside through continued unit renovations and leasing execution. The asset has reportedly remained under the same ownership group since 1999 and is being offered for sale for the first time in more than 25 years. Opportunities to acquire a waterfront apartment community with bay views, established operations, and potential income growth in Alameda remain relatively uncommon, positioning the property as a compelling multifamily investment opportunity within the Bay Area.