8-Unit Cottage-Style Apartment
For Sale
$2,498,000
1826 Santa Clara Ave, Alameda, CA 94501
Eight one-bedroom residences with garages, laundry facilities, and a cottage-style design in Alameda.
Property Size6,660 SF
Lot Size0.48 Acres
Days on Market16
Property Features for 1826 Santa Clara Ave
General Information
Standard status
Active
Size
6,660 SF
Class
C
Total Parking Spaces
8
Lot size
0.48 Acres
Property subtype
Multi-Family
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Additional Details
Gross Income
$199,140
Amenities
on-site laundry
Building Details
Building Size
6,660 SF
Year Built
1937
Buildings
1
Units
8
Construction
cottage-style
Listing Agency:
Kite Hill Real Estate
Listed By:
Jatin Mehta · License #02045713
(415) 795-2797
Source:
Commercialcafe
Added: Sep 5
Changed: Sep 20
Last Checked: Sep 20 at 5:21AM
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 Kite Hill Real Estate
Investment Insights
Based on property information with market context.
Built in 1937, this cottage-style apartment property includes 8 one-bedroom, one-bath residences, each offering more than 760 square feet of living area. The units feature wood-beamed ceilings, generous windows, and views of landscaped surroundings. The property occupies a 20,750-square-foot lot and includes on-site coin-operated laundry along with 8 rear garages.
Recent capital work includes a complete renovation of the front residence, replacement of the central driveway, and sewer lateral compliance completed in 2024. Located at 1826 Santa Clara Ave in Alameda, the property has Walk, Transit, and Bike Scores of 87, 48, and 82, respectively.
Recent capital work includes a complete renovation of the front residence, replacement of the central driveway, and sewer lateral compliance completed in 2024. Located at 1826 Santa Clara Ave in Alameda, the property has Walk, Transit, and Bike Scores of 87, 48, and 82, respectively.
Key Highlights
- 8 one‑bedroom, one‑bath apartment units
- Each residence offers more than 760 square feet
- 20,750‑square‑foot lot with 8 rear garages
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
$96,477
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
3.86%
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%
$1,929,540
$1.9M
Cap Rate 7%
$1,378,243
$1.4M
Cap Rate 9%
$1,071,967
$1.1M
Market Conditions
NOI Build-Up for 6,660 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
$186.2K $27.96/SF
− Vacancy
−$10.8K −$1.62/SF
EGI
$175.4K $26.34/SF
− OpEx
−$78.9K −$11.85/SF
NOI
$96.5K $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%
$1,929,540
Cap Rate 7%
$1,378,243
Cap Rate 9%
$1,071,967
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,477 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$30.36M
$26.57M – $35.42M
NOI $2,125,382 @ 7.0% cap · market cap 85.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,975
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom residences with garages, laundry facilities, and a cottage-style design in Alameda.
Where is this apartment building located?
The property is located at 1826 Santa Clara Ave Alameda, CA.
What is the asking price?
The asking price for this property is $2,498,000.
What are key features of this property?
This property features: 8 one‑bedroom, one‑bath apartment units; Each residence offers more than 760 square feet; 20,750‑square‑foot lot with 8 rear garages
