Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2608 Central Ave Alameda, CA 94501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,495,000

    Five-unit multifamily property with convenient access to amenities and transportation.

    Property size:
    4,881 SF

    Property Features for 2608 Central Ave

    General Information

    Standard status
    Active
    Size
    4,881 SF

    Building Details

    Year built
    1968

    We can help!

    Listing Contact
    Stephen Pagones
    Source: Corcoran

    Listing Agency: OAK TREE PROPERTY GROUP Listing Agent: Stephen Pagones

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Alameda Multifamily Property Near Broadway

    This East Alameda garden-style multifamily property features five units and is located off Broadway near the Park Street shopping district. The unit mix includes two 2BR/2BA units and three 2BR/1BA units. The units have spacious layouts with wall-to-wall carpeting and mirrored closets. Kitchens are equipped with dishwashers, electric stoves, and refrigerators. The property is separately metered for electricity. Amenities include eight off-street parking spaces, two-car garages, and on-site coin-operated laundry. The property is within walking distance of downtown Alameda retail, cafes, restaurants, and a movie theater, and is close to parks, South Shore Center, and Alameda Beach. Transportation options include easy access to Hwy 880/580/24, the SF ferry, regional bus lines, and multiple BART stations. The property has a Walk Score of 97 and a Bike Score of 88. The property size is 4881 square feet.
    Location Intelligence

    Current Use by Public Records

    Alameda Computer Repair Computer & Electronic Repair

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alameda
    County
    Alameda
    State
    California
    Longitude
    -122.2387139
    Latitude
    37.7622408

    Nearby Similar for Sale

    • $1,438,000
      2,923 SF

      Alameda Retail Investment Opportunity

      Leased USPS office in downtown Alameda with income.
      1415 Webster St, Alameda, CA 94501
      View Details
    • $1,795,000
      4,384 SF

      Alameda Fourplex with Mid-Century Charm

      Spacious 11BD/5.5BA fourplex in Alameda's Bronze Coast.
      2118 Alameda Ave, Alameda, CA 94501
      View Details
    • $1,438,000
      2,923 SF

      Alameda USPS Postal Service Office

      Busy downtown location with lease through 2028.
      1415 Webster St, Alameda, CA 94501
      View Details
    • $1,650,000

      Park Street Corner Retail Opportunity

      Signalized corner location in Alameda's Park Street Business District.
      1900 Park St, Alameda, CA 94501
      View Details
    • $2,695,000
      6,970 SF

      Retail Property in Alameda, CA

      Retail property available for sale in Alameda, California.
      1427 Park St, Alameda, CA 94501
      View Details
    • $998,000

      Alameda Specialty Property For Sale

      Specialty property available for purchase in Alameda, California.
      1572 Lincoln Ave, Alameda, CA 94501
      View Details
    • $890,000

      Alameda Specialty Property for Sale

      Specialty property available for purchase in Alameda, California.
      1805 Eagle Ave, Alameda, CA 94501
      View Details
    • Contact for pricing
      3,000 SF

      Peet's Coffee Drive-Thru For Sale

      Peet's Coffee drive-thru on a hard corner location.
      1901 Webster St, Alameda, CA 94501
      View Details
    • $1,295,000

      Alameda Specialty Property for Sale

      Specialty property available for purchase in Alameda, California.
      2000 Clinton Ave, Alameda, CA 94501
      View Details
    • $1,895,000

      Alameda Commercial Property for Sale

      Commercial property available for sale in Alameda, California.
      2120 Encinal Ave, Alameda, CA 94501
      View Details
    • $1,650,000

      Historic Building Near Lincoln Park

      Historic mixed-use building with income potential near Lincoln Park.
      1429 High St, Alameda, CA 94501
      View Details
    • $1,199,999

      Alameda Specialty Property For Sale

      Specialty property available for purchase in Alameda, California.
      1812 San Antonio Ave, Alameda, CA 94501
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five-unit multifamily property with convenient access to amenities and transportation.
    Where is this apartment building located?
    The property is located at 2608 Central Ave Alameda, CA.
    What is the asking price?
    The asking price for this property is $1,495,000.
    What are key features of this property?
    This property features: - Prime location with a Walk Score of 97, near downtown Alameda retail, cafes, restaurants, movie theater, parks, South Shore Center, and Alameda Beach.; - Excellent unit mix featuring two large 2BR/2BA units and three 2BR/1BA units.; - Eight off-street parking spaces plus two 2-car garages.
    (510) 255-2248
    Request Owner's contact information
    2608 Central Ave Alameda, CA 94501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2608 Central Ave
    Alameda, CA 94501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2608 Central Ave Alameda, CA 94501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Stephen Pagones
    Real Estate License ID: DRE #01760998
    (510) 255-2248
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!