Waterfront Multi-Unit Income
512 Central Ave Alameda, CA 94501
512 Central Ave, Alameda, CA, 94501
$2,290,000
For Sale
$2,290,000
Rare Alameda waterfront property with four units and bay-facing ADU.
Property Size3,250 SF
Price / SF$704.62
Days on Market409
Property Features for 512 Central Ave
General Information
- Standard status
- Active
- Size
- 3,250 SF
Building Details
- Year Built
- 1956
Listing agency
BAY HOME INVESTMENTS AND LOANS
Listed by
MING ZHOU
Source
Corcoran
Added: Jun 9, 2025 Updated: Mar 16 at 9:09AM Checked: Mar 16 at 9:09AM
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 BAY HOME INVESTMENTS AND LOANS
Investment Insights
Based on property information with market context.
This multi-unit building features four units: two 2-bedroom, 2-bathroom units and two 1-bedroom, 1-bathroom units, plus a legal 690-square-foot bay-facing Accessory Dwelling Unit (ADU). The property is located in Alameda, California, near Webster Street shops and restaurants, with freeway access and proximity to schools. The building offers a total size of 3250 square feet. Two of the 2-bedroom units include balconies that offer water views. All units feature updated interiors. This property is intended for use as a residential income property.
Key Highlights
- Rare waterfront income property with 4 units plus a legal ADU.
- Stunning water views from balconies in two 2BD/2BA units.
- Updated interiors in all units.
Local Financial Insights For Multifamily LT 5
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 | $165.8k | $51.00 |
| − Vacancy | −$9.9k | −$3.05 |
| EGI | $155.8k | $47.95 |
| − OpEx | −$46.8k | −$14.39 |
| NOI | $109.1k | $33.57 |
3,250 SF · lease $51.00/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $109,087 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$672.6K
$588.5K – $784.7K
NOI $47,080 @ 7.0% cap · market cap 2.06%
Theoretical Best
Retail
$14.82M
$12.96M – $17.29M
NOI $1,037,161 @ 7.0% cap · market cap 45.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Rare Alameda waterfront property with four units and bay-facing ADU.
Where is this quadplex located?
The property is located at 512 Central Ave Alameda, CA.
What is the asking price?
The asking price for this property is $2,290,000.
What are key features of this property?
This property features: Rare waterfront income property with 4 units plus a legal ADU.; Stunning water views from balconies in two 2BD/2BA units.; Updated interiors in all units.
