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2617 Central Ave
Alameda, CA 94501
Prime Location 3-Blocks South of Park Street · Multifamily Property For Sale
·
10 Units
Investment Highlights
- Rare offering on-the market for the first time in 32-years.
- 9.52% Market CAP Rate / 8.02 Market GRM. Huge rental upside of 30% on tenant turnover.
- Attractive curb appeal with front garden, and large undeveloped rear open common area with potential to add parking.
- Desirable location one-block south of Broadway and three-blocks south of Park Street.
- Offered at a fraction of replacement cost to build-- $260,000 / per unit and $355 / per square foot.
- On-site laundry, with current open common area to back, and units individually metered for electricity, with common gas meter paid by landlord.
Property Facts
| No. Units | 10 | Building Size | 6,592 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1959 |
| Building Class | C | Parking Ratio | 0.91/1,000 SF |
| Lot Size | 0.29 AC | ||
| Zoning | Multi-Unit 5Plus/ 7700 | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 6,592 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 0.91/1,000 SF |
| Zoning | Multi-Unit 5Plus/ 7700 |
Amenities
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | $1,738 | 700 |
| 3+1 | 1 | $2,655 | 1,017 |
Property Taxes
| Parcel Number | 070-0155-016-00 | Improvements Assessment | $1,718,700 |
| Land Assessment | $816,000 | Total Assessment | $2,534,700 |
Property Taxes
Parcel Number
070-0155-016-00
Land Assessment
$816,000
Improvements Assessment
$1,718,700
Total Assessment
$2,534,700
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