Six-Unit Multifamily
For Sale
$1,499,000
1718 Alameda Ave, Alameda, CA 94501
Commercial Sale, Alameda, CA
Property Size4,559 SF
Lot Size0.16 Acres
Price / SF$328.80
Days on Market16
Property Features for 1718 Alameda Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
4
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 1, Bedroom 4, Bathroom 6, Bathroom 1, Bathroom 4, Bathroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 5
Parking features
On Street
Exterior features
Garden
Subdivision
Alameda
Lot features
Level
Directions
Encinal Ave to Grand St to Alameda Ave
Standard status
Active
APN
7230411
Size
4,559 SF
Lot size
0.16 Acres
Utilities
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1915
Number of units
6
Flooring type
Carpet
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Tri-Valley · Keller Williams Realty
(925) 397-4200
Listed By:
Jason Pugao · License #01908325
(510) 472-6916
Added: Aug 11
Changed: Aug 24
Last Checked: Aug 26 at 11:06AM
MLS# 41144604
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.
Investment Insights
Based on property information with market context.
Located at 1718 Alameda Ave, this six-unit multifamily property contains approximately 4,559 square feet on a 6,750-square-foot lot. The configuration includes one studio, four junior one-bedroom units, and one two-bedroom, one-bath unit. Three junior one-bedroom units are expected to be delivered vacant at closing. The building dates to 1915 and includes a full-size basement, wood siding, composition roofing, carpeted floors, wall furnaces, garden landscaping, and on-street parking.
The property is in Alameda near shopping, dining, and transportation. Public water serves the property, while the owner currently pays water, garbage, and the common-area house meter. The sizable lot may support additional improvements or ADU development, subject to buyer investigation and City approval.
The property is in Alameda near shopping, dining, and transportation. Public water serves the property, while the owner currently pays water, garbage, and the common-area house meter. The sizable lot may support additional improvements or ADU development, subject to buyer investigation and City approval.
Key Highlights
- Six‑unit property with one studio, four junior one‑bedroom units, and one 2‑bedroom/1‑bath unit
- Three junior 1‑bedroom units 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 - Unit mix includes a studio, junior one-bedroom residences, and a two-bedroom, one-bath residence.
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 property with one studio, four junior one‑bedroom units, and one 2‑bedroom/1‑bath unit; Three junior 1‑bedroom units to be delivered vacant at close of escrow; Approximately 4,559 SF building on a 6,750 SF lot
