537 Pacific Ave 6 Unit Apartment Building $1,798,000 ($299,667/Unit) 6.01% Cap Rate Alameda, CA 94501

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Open House Schedule
Sunday, Nov 23, 2025 | 1:00PM - 3:00PM
This well-maintained six-unit apartment building is ideally located in the heart of West Alameda, just one block from Webster Street, one of the city’s key commercial corridors.Constructed in 1959, the property offers 4,522 square feet of rentable space on a 7,500 square foot lot. The unit mix includes five one-bedroom/one-bath units and one two-bedroom/two-bath unit, the latter well-suited for an owner-occupant or to command premium rents. Each unit is individually metered for water, gas, and electricity, significantly reducing operating expenses and enhancing net cash flow. This asset presents a strong opportunity for investors seeking stable income, low overhead, and a desirable location with proximity to transit, retail, and amenities.
- Prime Alameda Location – Just one block from Webster Street, a lively commercial hub with shopping, dining, and everyday conveniences.
- Six-Unit Investment Property – Built in 1959, offering approximately 4,522 sq. ft. of rentable space on a 7,500 sq. ft. lot.
- Desirable Unit Mix – Five one-bedroom/one-bath apartments plus one spacious two-bedroom/two-bath unit, ideal for owner-occupancy or strong rental income.
- Individually Metered Utilities – Separate water, gas, and electricity service for each unit helps minimize owner expenses and maximize returns.
- Well-Maintained Asset – Provides stable cash flow today with excellent potential for long-term appreciation.
- High Rental Demand – Strong tenant appeal with close proximity to public transit, neighborhood retail, and local amenities.
- Tenant-Friendly Amenities – Includes 1:1 covered off-street parking, on-site coin-operated laundry, and dedicated storage for each unit.