Victorian Duplex with Stained
New
For Sale
$998,000
843 Santa Clara AVE, Alameda, CA 94501
Residential Income (2-4 units), Victorian, ALAMEDA, CA
Property Size1,872 SF
Lot Size0.06 Acres
Price / SF$533.12
Days on Market3
Property Features for 843 Santa Clara AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
r2
Bedrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Laundry Room, Bedroom 2
Parking features
On Street, Offsite
Interior features
High Ceiling
Appliances
Countertop - Other, Microwave, Oven Range - Gas, Pantry, Refrigerator
Subdivision
Alameda Map Area 3
Standard status
Active
Size
1,872 SF
Lot size
0.06 Acres
Utilities
Heating system
Forced Air, Central
Water source
Public
Amenities
stained glass
backyard
storage shed
Building Details
Year built
1890
Number of units
2
Flooring type
Tile, Hardwood
Architectural style
Victorian
Listing Agency:
KW Advisors · Keller Williams Realty
(650) 627-3700
Listed By:
OWN Real Estate · License #70010079
(650) 888-0153
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 19 at 9:06PM
MLS# ML82061755
Copyright © 2026 MLS Listings, Inc. 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.
Located at 843 Santa Clara Avenue, this Victorian duplex contains two distinct residences within an 1,872-square-foot property built in 1890. The lower unit includes two bedrooms, a bonus room, one bathroom, laminate flooring, an updated kitchen with tile flooring and butcher block countertops, and a dedicated laundry room. The upper residence has a formal entry, high ceilings, large windows, two bedrooms, an updated bathroom, and a kitchen with newer cabinetry and butcher block countertops.
Original architectural elements, including stained glass, complement the updated interior features. The property also includes a backyard, storage shed, on-street parking, offsite parking, public water service, and forced-air and central heating. The 0.0637-acre parcel is zoned R2 and is situated near shopping, dining, parks, and everyday amenities in Alameda.
Original architectural elements, including stained glass, complement the updated interior features. The property also includes a backyard, storage shed, on-street parking, offsite parking, public water service, and forced-air and central heating. The 0.0637-acre parcel is zoned R2 and is situated near shopping, dining, parks, and everyday amenities in Alameda.
Key Highlights
- Two separate residences within a 1,872‑square‑foot duplex
- Victorian architecture dating to 1890 with original stained‑glass details
- Lower unit includes 2 bedrooms, a bonus room, 1 bath, and dedicated laundry
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 separate residences offer flexible living arrangements, updated kitchens, dedicated laundry, and access to outdoor storage.
Where is this duplex located?
The property is located at 843 Santa Clara AVE 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 separate residences within a 1,872‑square‑foot duplex; Victorian architecture dating to 1890 with original stained‑glass details; Lower unit includes 2 bedrooms, a bonus room, 1 bath, and dedicated laundry
