Character Duplex with Shared
For Sale
$1,399,900
1446 Fernside BLVD, Alameda, CA 94501
Two-unit property offering flexible occupancy, period charm, and access to a mature outdoor space.
Property Size2,650 SF
Price / SF$528.26
Days on Market19
Property Features for 1446 Fernside BLVD
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Duplex
Amenities
shared backyard
Building Details
Building Size
2,650 SF
Year Built
1915
Tenancy
Multi
Listing Agency:
The One Luxury Properties
(805) 418-6330
Listed By:
Michael Johnson
(805) 418-6330
Source:
Coastandcore
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 10 at 9:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The One Luxury Properties
Investment Insights
Based on property information with market context.
This 1915 duplex contains approximately 2,650 square feet of living space across two connected units. The upper residence has three bedrooms, while the lower unit provides two bedrooms. Both offer spacious living areas, abundant natural light, and period character. A shared backyard with mature fruit trees extends the property’s usable outdoor space.
The property is located at 1446 Fernside BLVD in Alameda’s East End, near Lincoln Park, the Oakland Estuary Waterfront, shopping, dining, and commuter routes. Nearby Alameda Unified School District campuses include Edison Elementary and Lincoln Middle School.
The connected layout supports several documented configurations, including occupying one unit while renting the other, maintaining the duplex arrangement, or combining the units into a larger five-bedroom residence.
The property is located at 1446 Fernside BLVD in Alameda’s East End, near Lincoln Park, the Oakland Estuary Waterfront, shopping, dining, and commuter routes. Nearby Alameda Unified School District campuses include Edison Elementary and Lincoln Middle School.
The connected layout supports several documented configurations, including occupying one unit while renting the other, maintaining the duplex arrangement, or combining the units into a larger five-bedroom residence.
Key Highlights
- Approximately 2,650 square feet of living space
- Three‑bedroom upper unit and two‑bedroom lower unit
- Connected units can be combined into a five‑bedroom residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$88,948
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,778,960
$1.8M
Cap Rate 7%
$1,270,686
$1.3M
Cap Rate 9%
$988,311
$988.3K
Market Conditions
NOI Build-Up for 2,650 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$135.2K $51.00/SF
− Vacancy
−$8.1K −$3.05/SF
EGI
$127.1K $47.95/SF
− OpEx
−$38.1K −$14.39/SF
NOI
$88.9K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,778,960
Cap Rate 7%
$1,270,686
Cap Rate 9%
$988,311
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,948 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$548.4K
$479.9K – $639.8K
NOI $38,388 @ 7.0% cap · market cap 2.74%
Theoretical Best
Retail
$12.08M
$10.57M – $14.09M
NOI $845,685 @ 7.0% cap · market cap 60.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 94501, CA
64,116
Population
27,117
Households
2.4
Avg Household Size
41
Median Age
58%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
8,015
Density / Sq Mi
$119,500
Median Household Income
$75,514
Median Earnings
$2,362
Median Rent
$1,213,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property offering flexible occupancy, period charm, and access to a mature outdoor space.
Where is this duplex located?
The property is located at 1446 Fernside BLVD Alameda, CA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Approximately 2,650 square feet of living space; Three‑bedroom upper unit and two‑bedroom lower unit; Connected units can be combined into a five‑bedroom residence
