Back to Search

Alameda Multifamily Investment Opportunity

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

AddedNov 7, 2025

Days on Market251

Last RefreshJul 15 at 11:19 am

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 office Cerda-Zein Real Estate

Listing date Nov 7, 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

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

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 (±1% cap)

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 (±1% cap)

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

Apartment buildings

Suggested Use

Similar For Sale Nearby

$1,550,000

3,779 SF

Medical Office Building with Cottages

Medical office plus two residential cottages on a lot in Alameda with a long-term oral surgery lease.

2242 Santa Clara Ave, Alameda, CA 94501

View Details
$1,699,000

3,247 SF

Turnkey Four-Unit Residential Property

Turnkey four-unit property with shared garden area and one assigned parking space per unit.

1405 Central AVE, ALAMEDA, CA 94501

View Details
$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
$1,269,000

1,743 SF

Two-Home Residential Income Property

Purchase two separate residences on one lot, including a full basement and an additional side yard for flexible use.

301 Lincoln Ave, Alameda, CA 94501

View Details
$645,000

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
$2,200,000

4,393 SF

Multi-Use Corner Office Building

Contemporary office building on a highly visible corner lot with multiple private offices, reception, and an upstairs suite with its own bathroom.

745 Buena Vista Avenue, Alameda, CA 94501

View Details
$750,000

Corner Office End Unit with Bay View

Good-condition office end unit with panoramic bay views, featuring separated office and conference space.

2229 Harbor Bay Pkwy, Alameda, CA 94502

View Details
$2,995,000

6,932 SF

Corner Fitness Center Building

For sale corner fitness and entertainment property with a dedicated commercial footprint at a highly visible intersection.

1526 Webster St, Alameda, CA 94501

View Details
$1,200,000

Alameda Mixed-Use Building For Sale

Mixed-use building in Alameda's vibrant downtown, near Park Street.

1414 1414 Everett St, Alameda, CA 94501

View Details
$1,799,000

3,247 SF

Turnkey 4-Unit Multifamily Property

Turnkey four-unit residence with shared garden and one assigned parking space per unit in Alameda.

1405 Central Avenue, 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
$3,495,000

Former Dealership Redevelopment Opportunity

Redevelopment opportunity on a busy Alameda intersection.

1825 Park St, Alameda, CA 94501

View Details

For sale
Apartment buildings
CA
Alameda
94501
1820 3rd Street

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.