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Commercial Property — 931 Chestnut Street, Alameda, CA

$1,000,000

931 Chestnut Street, Alameda, CA

$1,000,000 — 931 Chestnut Street, Alameda, CA — photo 1 $1,000,000 — 931 Chestnut Street, Alameda, CA — photo 2 $1,000,000 — 931 Chestnut Street, Alameda, CA — photo 3 $1,000,000 — 931 Chestnut Street, Alameda, CA — photo 4 $1,000,000 — 931 Chestnut Street, Alameda, CA — photo 5
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About this property

Charming Victorian-style apartment property located in Alamedas highly sought-after Bronze Coast neighborhood. Excellent opportunity for value-add investors. The property features a diverse unit mix consisting of (2) studio units, (2) 1BR/1BA units, and (1) 2BR/1BA unit, allowing for immediate lease-up at market rents. The property offers a projected 6.70% cap rate upon occupancy of the vacant units. Unit E was recently renovated from a studio into a true 1BR/1BA unit. Additional income potential exists through garage and off-street parking, as well as implementation of shared laundry for units currently without in-unit washer/dryers. Recent capital improvements and interior upgrades include new LVP flooring and interior paint in Units C and D, along with updates to common areas. Major electrical improvements include brand-new main panels, subpanels, and replacement of existing knob-and-tube wiring. Sewer lateral inspection has also been completed.

Property details

Square feet
3,491
Year built
1904
Property type
CommercialSale

Location

931 Chestnut Street • Alameda, CA 94501

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Listed by

Rachel Ivers · Compass

Listing courtesy of Compass. Information deemed reliable but not guaranteed.

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