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Listed by Rachel Ivers, DRE #02106194 • Compass
$2,350,000
Est. payment /mo
4 Beds
5 Baths
7,715 SqFt
Open House
Fri May 29, 11:00am - 1:00pm
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 7,715 sqft
Price per Sqft $304
MLS Listing ID ML82048178
Bedrooms 4
Full Baths 5
Year Built 1898
Lot Size 9,344 Sqft
Property Sub-Type Five or More Units
Source MLSListings, Inc.
Property Description
AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO. Two (2) Charming Victorian-style apartments located on adjacent parcels located in Alamedas highly sought after Bronze Coast neighborhood. Excellent opportunity for value-add investors. Each property boasts five (5) units each: 925 CHESTNUT ST - (3) 1BR/1BA units, (1) 1BR/2BA unit, and (1) 2BR/1BA owners unit delivered vacant & 931 CHESTNUT ST (2) Studio, (2) 1BR/1BA, and (1) 2x1 unit. The owners unit at 925 Chestnut is currently vacant, allowing for immediate lease up at market rents. The portfolio delivers a 6.82% CAP RATE upon immediate lease-up of four (4) vacant units. Additional income potential exists through garage and tandem parking, and implementation of shared laundry for units currently without in-unit washer/dryers. Extensive renovations across some units at 925 & 931 Chestnut include full interior upgrades, new LVP flooring, interior paint, kitchen countertops and cabinetry. Major electrical improvements include brand new main panels, subpanels, and replacement of existing knob-and-tube wiring. Sewer lateral inspection has also been completed.
Location
State CA
County Alameda
Area Alameda Map Area 2
Zoning R-4
Interior
Heating Electric, Fireplace , Gas
Cooling None
Flooring Carpet, Hardwood, Laminate, Tile
Laundry Washer/Dryer - Some Units
Exterior
Parking Features Attached Garage, Carport , Off-Site Parking
Utilities Available Other
Roof Type Shingle
Building
Foundation Concrete Slab
Sewer Sewer - Public
Water Public
Others
Tax ID 071-0269-004-000
Special Listing Condition Not Applicable
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