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    2242 Santa Clara Ave Alameda, CA 94501

    View on Map
    New
    For Sale
    $1,550,000

    MULTI_FAMILY - Alameda, CA

    Property size:
    3,779 SF
    Lot size:
    0.24 Acres
    Added:
    Apr 8, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 8 at 11:06 pm

    Property Features for 2242 Santa Clara Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-6
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bedroom 2, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 3
    Parking features
    Assigned
    Interior features
    Storage
    Exterior features
    Side Yard
    Standard status
    Active
    APN
    7121834
    Size
    3,779 SF
    Lot size
    0.24 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air

    Building Details

    Year built
    1920
    Number of units
    3
    Flooring type
    Laminate, Linoleum
    Building materials
    Stucco
    Roof type
    Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Ringo Liu

    Listing agent Ringo Liu License #01106012

    Listing office KW Advisors East Bay 4937 Telegraph Ave. Ste A, Oakland, CA

    Listing date Apr 8, 2026

    MLS# 41130098

    Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Medical Building Plus Residential Cottages

    This charming classic building, constructed in 1920, is situated on a 10,384 square foot lot in Central Alameda. The property includes a medical/professional building in addition to two residential cottages. Each cottage features outdoor space, parking, and access to street parking. The property also offers spacious storage in the rear. Located just two blocks from Park Street, the property is in close proximity to local retail and dining options. The property benefits from a stable income stream due to a long-term lease with an oral surgery office. The property is zoned R-6 and has a low maintenance profile with strong cash flow. The building size is 3,779 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    California Oral and Facial ... Dental Office Dr. Will Osibin ... Dental Office Wei-Yu Yu Tang Dental Office Willard Osibin Dental Office Wei Yu Tang Dental Office

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Park Centre Animal Hospital — 2501 Central Ave, Alameda, CA 94501
    • Wydner, Cathy DVM - Park Center Animal Hospital — 2501 Central Ave, Alameda, CA 94501
    • Cheryl Schwartz — 874 1/2, 874 Walnut St, Alameda, CA 94501
    • Providence Veterinary Hospital: Olson Celia DVM — 2304 Pacific Ave, Alameda, CA 94501
    • Scullin Sarah DVM — 2501 Central Ave, Alameda, CA 94501

    Location Insight

    • Map
    • Local Demand
    City
    Alameda
    County
    Alameda
    State
    California
    Longitude
    -122.2445845
    Latitude
    37.7663769

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    FAQs

    What type of property is this?
    Medical Office Space - Medical building with two residential cottages in Central Alameda.
    Where is this medical office space located?
    The property is located at 2242 Santa Clara Ave Alameda, CA.
    What is the asking price?
    The asking price for this property is $1,550,000.
    What are key features of this property?
    This property features: Stable income with long‑term lease on oral surgery office.; Medical/professional building plus two residential cottages on a 10,384 sq/ft lot.; Great investment opportunity with strong cash flow.
    (510) 913-1600
    We can help!
    Listing Contact
    Ringo Liu
    Real Estate License ID: 01106012
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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