Medical Center with Two
For Sale
$1,550,000
Pending
2242 Santa Clara Ave, Alameda, CA 94501
MULTI_FAMILY - Alameda, CA
Property Size3,779 SF
Lot Size0.24 Acres
Days on Market121
Property Features for 2242 Santa Clara Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-6
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1
Parking features
Assigned
Interior features
Storage
Exterior features
Side Yard
Subdivision
Central Alameda
Lot features
Rectangular Lot
Directions
Park St ~ Santa Clara Ave.
Standard status
Pending
APN
7121834
Size
3,779 SF
Lot size
0.24 Acres
Utilities
Heating system
Forced Air
Building Details
Year built
1920
Number of units
3
Flooring type
Linoleum, Laminate
Building materials
Stucco
Roof type
Composition
Additional Structures
Storage
Listing Agency:
KW Advisors East Bay · Keller Williams Realty
(510) 775-1079
Listed By:
Ringo Liu · License #01106012
(510) 913-1600
Added: Apr 8
Changed: Aug 3
Last Checked: Aug 6 at 12:06AM
MLS# 41130098
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
2242 Santa Clara Ave, Alameda, CA 94501 presents a mixed-use medical/professional building plus two residential cottages on a 0.24-acre lot. The main building was constructed in 1920 and features a classic exterior with stucco construction and a composition roof. Interior features include storage, and the property also offers a side yard and outdoor space tied to the cottages.
The property includes assigned parking, with access to street parking. Heating is provided via forced air systems. Additional space includes spacious storage in the rear.
A long-term lease is in place for an oral surgery office, supporting the property’s medical/professional use. The site is located approximately two blocks from Park Street, with local retail and dining nearby.
The property includes assigned parking, with access to street parking. Heating is provided via forced air systems. Additional space includes spacious storage in the rear.
A long-term lease is in place for an oral surgery office, supporting the property’s medical/professional use. The site is located approximately two blocks from Park Street, with local retail and dining nearby.
Key Highlights
- 0.24‑acre lot with medical/professional building plus two residential cottages
- Oral surgery office on a long‑term lease
- Year built 1920 with stucco construction and composition roof
Financial Insights For Office B
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 | $136.5k | $36.12 |
| − Vacancy | −$34.7k | −$9.17 |
| EGI | $101.8k | $26.95 |
| − OpEx | −$25.5k | −$6.74 |
| NOI | $76.4k | $20.21 |
3,779 SF · lease $36.12/SF/yr · vacancy 25.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.09M
$954.6K – $1.27M
NOI $76,370 @ 7.0% cap · market cap 4.93%
Second Best
Healthcare Medical
$924.7K
$809.1K – $1.08M
NOI $64,730 @ 7.0% cap · market cap 4.18%
Theoretical Best
Retail
$17.23M
$15.07M – $20.10M
NOI $1,205,979 @ 7.0% cap · market cap 77.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,691
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Medical/professional building with two residential cottages, R-6 zoning, storage, forced-air heating, and assigned parking.
Where is this medical center located?
The property is located at 2242 Santa Clara Ave Alameda, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 0.24‑acre lot with medical/professional building plus two residential cottages; Oral surgery office on a long‑term lease; Year built 1920 with stucco construction and composition roof
