Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Alameda Multifamily Investment Opportunity Title is generated by Realmo AI

    1820 3rd Street, Alameda, CA 94501

    View on Map
    Claim this Listing
    For Sale
    $1,600,000

    Five-unit property in Alameda's West End with strong returns.

    Type:5+ Units
    Property size:
    3,091 SF
    Price / SF:
    $517/SF
    Added:
    Nov 21, 2025
    Days on Market:
    193
    Last Refresh:
    Mar 13 at 6:15 pm

    Property Features for 1820 3rd Street

    General Information

    Standard status
    Active
    Size
    3,091 SF
    Property subtype
    5+ Units

    Building Details

    Year Built
    1895

    We can help!

    Listing Contact
    Jose Cerda-Zein

    Listing agent Jose Cerda-Zein License #01403669

    Listing office Cerda-Zein Real Estate

    Listing date Nov 21, 2025

    Source Compass

    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 Cerda-Zein Real Estate

    HighLights

    • High 7.48% Cap Rate offers a compelling investment opportunity with strong returns.
    • Prime West End location in Alameda, near beaches, restaurants, wineries, and shopping.
    • Five spacious 2‑bedroom, 1‑bathroom units provide steady rental demand.
    • Projected gross income of $161,431.68.
    • Convenient access to public transportation (SF Bay Ferry, bus lines) and 880 freeways.
    • Two buildings on one lot.

    Overview

    This five-unit property, situated on a single lot and comprising two buildings, is located in Alameda's West End. The property consists of five units, each featuring two bedrooms and one bathroom. The location offers proximity to Crown Memorial State Beach, Webster Street's restaurants and lounges, Alameda Point's Spirit Alley with wineries and breweries, and the South Shore Center. Transportation options include the SF Bay Ferry, multiple bus lines, and access to 880 freeways. The property has a projected gross income of $161,431.68, a cap rate of 7.48%, and a GRM of 9.91. The property size is 3091 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Alameda
    County
    Alameda
    State
    California
    Longitude
    -122.2878202
    Latitude
    37.7777621

    Nearby Similar for Sale

    • $1,180,000
      2,700 SF

      Victorian Duplex in Alameda

      Charming 6-bedroom Victorian duplex on a large lot.
      1801 Buena Vista Ave, Alameda, CA 94501
      View Details
    • $1,095,000
      1,427 SF

      Remodeled Duplex in Alameda's East End

      Pristine, remodeled duplex near Lincoln Park, ideal for investors.
      3241 Briggs Ave, Alameda, CA 94501
      View Details
    • $1,250,000
      1,553 SF

      Updated Alameda Duplex in East End

      Remodeled duplex with modern amenities, ideal for investment or living.
      3239 Briggs Ave, Alameda, CA 94501
      View Details
    • $1,550,000
      3,779 SF

      Medical Building Plus Residential Cottages

      Medical building with two residential cottages in Central Alameda.
      2242 Santa Clara Ave, Alameda, CA 94501
      View Details
    • $1,275,000
      2,238 SF

      Two Homes on One Lot

      Two homes on one lot in Alameda, CA.
      976 Park Street, Alameda, CA 94501
      View Details
    • $745,000
      2,289 SF

      Alameda Duplex with Upside Potential

      Centrally located duplex with good income and upside potential.
      1918 Lafayette St, Alameda, CA 94501
      View Details
    • $3,100,000
      7,592 SF

      Alameda Multifamily Investment Opportunity

      Well-maintained 10-unit multifamily property in Alameda, 100% occupied.
      500 Buena Vista Ave, Alameda, CA 94501
      View Details
    • $2,350,000
      7,715 SF

      Victorian Apartments in Alameda Portfolio

      Two adjacent multifamily properties with value-add potential in Alameda.
      925-931 Chestnut Street, Alameda, CA 94501
      View Details
    • $2,800,000
      4,490 SF

      Alameda Retail Space For Sale

      Retail space available in Alameda, California.
      1820 Park St, Alameda, CA 94501
      View Details
    • $1,395,000
      2,923 SF

      Alameda USPS Postal Service Office

      Busy downtown location with lease through 2028.
      1415 Webster, Alameda, CA 94501
      View Details
    • $2,245,000
      7,240 SF

      Improved Office Condo with Views

      Turn-key office condo with waterfront views, flexible zoning.
      2221-2239 Harbor Bay Pkwy, Alameda, CA
      View Details
    • $1,275,000

      Alameda Investment Opportunity: Two Homes

      Two homes on one lot, generating immediate rental income.
      976 Park St, Alameda, CA 94501
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five-unit property in Alameda's West End with strong returns.
    Where is this apartment building located?
    The property is located at 1820 3rd Street Alameda, CA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: High 7.48% Cap Rate offers a compelling investment opportunity with strong returns.; Prime West End location in Alameda, near beaches, restaurants, wineries, and shopping.; Five spacious 2‑bedroom, 1‑bathroom units provide steady rental demand.
    (510) 523-5673
    We can help!
    Listing Contact
    Jose Cerda-Zein
    Real Estate License ID: 01403669
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1820 3rd Street, Alameda, CA 94501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!