Victorian Duplex with Two
For Sale
$998,000
843 Santa Clara Avenue, Alameda, CA 94501
Two separately arranged homes include updated kitchens and dedicated laundry in the lower unit.
Property Size1,872 SF
Days on Market8
Property Features for 843 Santa Clara Avenue
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA + bonus room, 1 x 2BR/1BA
Multifamily Units
2
Amenities
backyard
storage shed
Building Details
Building Size
1,872 SF
Year Built
1890
Buildings
1
Construction
Victorian
Listing Agency:
KW Advisors
Listed By:
Own Real Estate
(650) 888-0153
Source:
Coastandcore
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 24 at 5:49PM
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 KW Advisors
Investment Insights
Based on property information with market context.
Built in 1890, this two-unit Victorian property pairs period character with practical updates. The lower home includes two bedrooms, a bonus room, one bathroom, laminate flooring, an updated kitchen with tile flooring, and a dedicated laundry room. The upper residence offers a formal entry, high ceilings, large windows, two bedrooms, an updated bathroom, and a kitchen with newer cabinetry and butcher block countertops.
Original details such as stained glass complement the updated interiors. Outside, a manicured backyard and storage shed add usable space. The property is near Alameda’s historic neighborhoods, shopping, dining, parks, and everyday amenities. Its separate layouts support owner occupancy with rental income, multigenerational living, or use as a residential income property.
Original details such as stained glass complement the updated interiors. Outside, a manicured backyard and storage shed add usable space. The property is near Alameda’s historic neighborhoods, shopping, dining, parks, and everyday amenities. Its separate layouts support owner occupancy with rental income, multigenerational living, or use as a residential income property.
Key Highlights
- Two‑unit Victorian property built in 1890
- Lower unit includes 2 bedrooms, a bonus room, 1 bath, and dedicated laundry
- Upper residence features 2 bedrooms, a formal entry, high ceilings, and large windows
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
$62,834
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
6.30%
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%
$1,256,680
$1.3M
Cap Rate 7%
$897,629
$897.6K
Cap Rate 9%
$698,156
$698.2K
Market Conditions
NOI Build-Up for 1,872 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
$95.5K $51.00/SF
− Vacancy
−$5.7K −$3.05/SF
EGI
$89.8K $47.95/SF
− OpEx
−$26.9K −$14.39/SF
NOI
$62.8K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,256,680
Cap Rate 7%
$897,629
Cap Rate 9%
$698,156
Alternative Uses
Best Use
Multifamily LT 5
$897.6K
$785.4K – $1.05M
NOI $62,834 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$387.4K
$339.0K – $452.0K
NOI $27,118 @ 7.0% cap · market cap 2.72%
Theoretical Best
Retail
$8.53M
$7.47M – $9.96M
NOI $597,405 @ 7.0% cap · market cap 59.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,257
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately arranged homes include updated kitchens and dedicated laundry in the lower unit.
Where is this duplex located?
The property is located at 843 Santa Clara Avenue Alameda, CA.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Two‑unit Victorian property built in 1890; Lower unit includes 2 bedrooms, a bonus room, 1 bath, and dedicated laundry; Upper residence features 2 bedrooms, a formal entry, high ceilings, and large windows
