Waterfront Multifamily
2051 Shoreline Drive Alameda, CA 94501
New
2051 Shoreline Drive, Alameda, CA, 94501
$15,000,000
For Sale
$15,000,000
A 1962-built multifamily building totaling 36,412 sf with expansive windows and direct Alameda shoreline exposure.
Property Size36,412 SF
Price / SF$411.95
Days on Market3
Property Features for 2051 Shoreline Drive
General Information
- Standard status
- Active
- Size
- 36,412 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing agency
Newmark - San Mateo
(510) 923-9155
Listed by
Will Thomas · License #00826289
Source
Nmrk
Added: Jul 19 Updated: Jul 20 at 2:13AM Checked: Jul 21 at 8:30AM
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 Newmark - San Mateo
Investment Insights
Based on property information with market context.
2051 Shoreline Drive is a 36,412-square-foot multifamily ownership property on a single parcel. Constructed in 1962, the building features a lasting masonry and concrete structure, generous ceiling heights, and expansive fenestration designed to bring in abundant natural light. Circulation is arranged to support resident privacy, with ground-level entry points that simplify access and daily movement through the property. The offering also includes ample storage and utility and mechanical infrastructure to support efficient operations.
The property is directly adjacent to the Alameda shoreline, providing prominent waterfront exposure and unobstructed water views from the residences. Its solid roofline and facade contribute to a consistent visual presence along Shoreline Drive, while a strategic layout supports both privacy and operational flow.
With a consistent unit mix, the property presents an opportunity for rental stabilization, supported by well-maintained systems and a stable structural footprint.
The property is directly adjacent to the Alameda shoreline, providing prominent waterfront exposure and unobstructed water views from the residences. Its solid roofline and facade contribute to a consistent visual presence along Shoreline Drive, while a strategic layout supports both privacy and operational flow.
With a consistent unit mix, the property presents an opportunity for rental stabilization, supported by well-maintained systems and a stable structural footprint.
Key Highlights
- 36,412 SF multifamily building on a single parcel
- Built in 1962 with a masonry and concrete structure
- Direct adjacency to the Alameda shoreline with prominent exposure along Shoreline Drive
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 | $1.02M | $27.96 |
| − Vacancy | −$59.0k | −$1.62 |
| EGI | $959.0k | $26.34 |
| − OpEx | −$431.6k | −$11.85 |
| NOI | $527.5k | $14.49 |
36,412 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.54M
$6.59M – $8.79M
NOI $527,467 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$166.00M
$145.25M – $193.67M
NOI $11,620,034 @ 7.0% cap · market cap 77.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Waterfront Apartments
Apartment Building
Hl.Peninsula Pearl
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - A 1962-built multifamily building totaling 36,412 sf with expansive windows and direct Alameda shoreline exposure.
Where is this apartment building located?
The property is located at 2051 Shoreline Drive Alameda, CA.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: 36,412 SF multifamily building on a single parcel; Built in 1962 with a masonry and concrete structure; Direct adjacency to the Alameda shoreline with prominent exposure along Shoreline Drive
