MLS#ML82048178
STATUSActive
PROPERTY TYPECommercial - Business
SCHOOLAlameda City Unified
Listing Courtesy of:
Compass
Agency Phone: (415) 660-9955
Associate Name: Rachel Ivers
Listing Shown by:
Farrell Smyth, Inc.
Associate Name: Keiana Gunn
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.
Property Features
Property Type: Commercial - Business
Cooling: None
Heating: Electric, Fireplace(s)
Lot Size: 0.21 Acres
Roof Type: Shingle
Taxes: $36,972
Year Built: 1898
Feature Descriptions
Days on Site: 2
Parcel#: 0710269004000
Utilities: Other
Water: Public
Local Schools
School District: Alameda City Unified
Listed By / Shown By
Listed By
Agency Name: Compass
Agent Name: Rachel Ivers
Agency Phone: (415) 660-9955
Shown By
Agent Name: Keiana Gunn
Agent Phone: (805) 439-2547 ext. 14
Agency Title: Farrell Smyth, Inc.
Keiana Gunn
Office: (805) 439-2547 ext. 14
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Chestnut Street | MLS# ML82048178
This commercial property located at Chestnut Street, Alameda, CA 94501 is currently listed for sale with an asking price of $2,350,000. Chestnut Street is located within the Alameda City Unified school district. Search Alameda real estate on annettemullen.farrellsmyth.com today.