500 Buena Vista Ave 10 Unit Apartment Building $3,100,000 ($310,000/Unit) 5.61% Cap Rate Alameda, CA 94501

500 Buena Vista Avenue presents a rare opportunity to acquire a well-maintained 10-unit multifamily property in Alameda’s highly desirable West End neighborhood. Built in 1962, the property consists of ten spacious 2-bedroom/1-bathroom units totaling approximately 7,592 square feet on a 0.28-acre lot. The asset is currently 100% occupied, providing immediate in-place cash flow.
The property offers a compelling value-add opportunity with approximately 18% loss-to-lease, creating a clear path to increased income and long-term appreciation. Bringing rents to market supports a projected cap rate expansion from 5.61% to 7.37%, significantly enhancing overall returns. Utilities are individually metered for gas and electricity, helping minimize landlord expense exposure.
Ideally located just steps from the Webster Street Corridor and approximately 0.3 miles from the Webster and Posey Tubes, the property offers seamless access to Downtown Oakland, I-880, and the greater Bay Area. Residents also benefit from close proximity to the Alameda Ferry Terminal, major employment hubs, retail amenities, waterfront recreation, and highly rated schools.
With strong market fundamentals, high barriers to entry, and consistent rental demand, 500 Buena Vista Avenue represents a premier value-add investment opportunity in one of the East Bay’s most stable and supply-constrained rental markets.