6-Unit Apartment
New
For Sale
$1,499,000
1718 Alameda Ave, Alameda, CA 94501
Flexible unit mix includes three junior one-bedroom apartments delivered vacant at closing.
Property Size4,559 SF
Lot Size0.15 Acres
Price / SF$328.80
Days on Market2
Property Features for 1718 Alameda Ave
General Information
Standard status
Active
Size
4,559 SF
Lot size
0.15 Acres
Property subtype
Investment
Units
Unit Mix
1 x studio, 4 x junior 1BR, 1 x 2BR/1BA
Multifamily Units
6
Building Details
Year Built
1915
Buildings
1
Units
6
Listing Agency:
The JPRE Group
(925) 397-4200
Listed By:
Jason Pugao · License #01908325
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 4:09AM
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 JPRE Group
Investment Insights
Based on property information with market context.
Built in 1915, this six-unit apartment property at 1718 Alameda Ave includes one studio, four junior one-bedroom units, and one two-bedroom, one-bath unit. Three junior one-bedroom apartments are scheduled for vacancy at closing, creating flexibility for renovation and repositioning. The approximately 4,559 SF building also includes a full-size basement and sits on a flat 6,750 SF lot with established landscaping.
The property is in Alameda near shopping, dining, and transportation. Walk Score is 88, Bike Score is 87, and Transit Score is 48. The owner currently pays water, garbage, and the common-area house meter. Potential future ADU development or other improvements would remain subject to buyer investigation and City approval.
The property is in Alameda near shopping, dining, and transportation. Walk Score is 88, Bike Score is 87, and Transit Score is 48. The owner currently pays water, garbage, and the common-area house meter. Potential future ADU development or other improvements would remain subject to buyer investigation and City approval.
Key Highlights
- Six‑unit apartment property with one studio, four junior 1‑bedroom units, and one 2‑bedroom/1‑bath unit
- Three junior 1‑bedroom units expected to be delivered vacant at close of escrow
- Approximately 4,559 SF building on a 6,750 SF lot
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
$66,042
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
4.41%
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%
$1,320,840
$1.3M
Cap Rate 7%
$943,457
$943.5K
Cap Rate 9%
$733,800
$733.8K
Market Conditions
NOI Build-Up for 4,559 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
$127.5K $27.96/SF
− Vacancy
−$7.4K −$1.62/SF
EGI
$120.1K $26.34/SF
− OpEx
−$54.0K −$11.85/SF
NOI
$66.0K $14.49/SF
Area
Alameda County, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,320,840
Cap Rate 7%
$943,457
Cap Rate 9%
$733,800
Alternative Uses
Best Use
Apartment 5plus
$943.5K
$825.5K – $1.10M
NOI $66,042 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$20.78M
$18.19M – $24.25M
NOI $1,454,898 @ 7.0% cap · market cap 97.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,289
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?
Apartment building - Flexible unit mix includes three junior one-bedroom apartments delivered vacant at closing.
Where is this apartment building located?
The property is located at 1718 Alameda Ave Alameda, CA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Six‑unit apartment property with one studio, four junior 1‑bedroom units, and one 2‑bedroom/1‑bath unit; Three junior 1‑bedroom units expected to be delivered vacant at close of escrow; Approximately 4,559 SF building on a 6,750 SF lot
