Chestnut, Alameda, CA 94501
- Sqft
- 7,715
- Garage
- Yes
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Overview
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
Full feature list
Basic info
- Property type
- Multi-family
- Square feet
- 7,715
- Lot size (acres)
- 0.22
- Year built
- 1898
Garage and parking
- Garage parking spaces
- 1
Utilities
- Heating
- Fireplace, Electric, Gas
- Cooling
- None
Public schools
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Sourced from: MLSListings (California) MLS®#: ML82048178 Last checked: …
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