Alameda Multifamily Investment
1820 3rd Street Alameda, CA 94501
1820 3rd Street, Alameda, CA, 94501
$1,497,000
For Sale
$1,497,000
Five-unit property in Alameda's West End with strong returns.
Property Size3,091 SF
Price / SF$484.31
Days on Market253
Property Features for 1820 3rd Street
General Information
- Standard status
- Active
- Size
- 3,091 SF
- Property subtype
- 5+ Units
Building Details
- Year Built
- 1895
Listing Agency
Cerda-Zein Real Estate
(510) 523-5673
Listed by
Jose Cerda-Zein · License #01403669
(510) 523-5673
Source
Compass
Added: Nov 7, 2025 Checked: Jul 17 at 5:04 am
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.4k | $27.96 |
| − Vacancy | −$5.0k | −$1.62 |
| EGI | $81.4k | $26.34 |
| − OpEx | −$36.6k | −$11.85 |
| NOI | $44.8k | $14.49 |
3,091 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$639.7K
$559.7K – $746.3K
NOI $44,776 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$14.09M
$12.33M – $16.44M
NOI $986,420 @ 7.0% cap · market cap 65.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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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 $1,497,000.
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.
