Victorian-Style Apartment
For Sale
$1,350,000
Pending
925 Chestnut Street, Alameda, CA 94501
Victorian-style multifamily property with a mixed unit layout and a vacant 2BR unit ready for lease-up.
Property Size3,275 SF
Days on Market109
Property Features for 925 Chestnut Street
General Information
Standard status
Pending
Size
3,275 SF
Property subtype
5+ Units / Five or More Units
Additional Details
Cap Rate
6.91%
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$20,782
Amenities
on-site storage
2
Building Details
Year Built
1898
Buildings
1
Construction
Victorian-style
Listing Agency:
Compass
Listed By:
Rachel Ivers · License #02106194
(650) 576-8294
Source:
Compass
Added: May 21
Changed: Sep 4
Last Checked: Sep 5 at 4:43PM
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 Compass
Investment Insights
Based on property information with market context.
This Victorian-style apartment property offers a diverse unit mix of (3) 1BR/1BA units, (1) 1BR/2BA unit, and (1) vacant 2BR/1BA owners unit. The vacancy supports immediate lease-up, with a stated projected 6.91% cap rate upon occupancy of the vacant units. Recent interior and system improvements include new LVP flooring, interior paint, cabinetry, and countertops in Unit E, along with a new dishwasher in the vacant owners unit. Major electrical updates include brand-new main panels and subpanels, and a sewer lateral inspection has also been completed.
Located at 925 Chestnut Street in Alameda’s Bronze Coast neighborhood, the property provides additional income opportunities noted in the remarks, including garage and tandem parking and on-site storage. The property also presents operational upside through possible ADU conversion of storage areas and implementing shared laundry for units currently without in-unit washer/dryers.
Located at 925 Chestnut Street in Alameda’s Bronze Coast neighborhood, the property provides additional income opportunities noted in the remarks, including garage and tandem parking and on-site storage. The property also presents operational upside through possible ADU conversion of storage areas and implementing shared laundry for units currently without in-unit washer/dryers.
Key Highlights
- Victorian‑style multifamily built in 1898 with a unit mix of 3x 1BR/1BA, 1x 1BR/2BA, and 1 vacant 2BR/1BA owner unit
- Vacant 2BR/1BA unit offers immediate lease‑up at market rents; projected 6.91% cap rate upon occupancy
- Recent interior upgrades include new LVP flooring, interior paint, cabinetry, and countertops in Unit E, plus a new dishwasher in the vacant owners unit
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
$47,442
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
3.51%
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%
$948,840
$948.8K
Cap Rate 7%
$677,743
$677.7K
Cap Rate 9%
$527,133
$527.1K
Market Conditions
NOI Build-Up for 3,275 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
$91.6K $27.96/SF
− Vacancy
−$5.3K −$1.62/SF
EGI
$86.3K $26.34/SF
− OpEx
−$38.8K −$11.85/SF
NOI
$47.4K $14.49/SF
Area
Alameda County, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
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%
$948,840
Cap Rate 7%
$677,743
Cap Rate 9%
$527,133
Alternative Uses
Best Use
Apartment 5plus
$677.7K
$593.0K – $790.7K
NOI $47,442 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$14.93M
$13.06M – $17.42M
NOI $1,045,139 @ 7.0% cap · market cap 77.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,432
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 Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Victorian-style multifamily property with a mixed unit layout and a vacant 2BR unit ready for lease-up.
Where is this apartment building located?
The property is located at 925 Chestnut Street Alameda, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Victorian‑style multifamily built in 1898 with a unit mix of 3x 1BR/1BA, 1x 1BR/2BA, and 1 vacant 2BR/1BA owner unit; Vacant 2BR/1BA unit offers immediate lease‑up at market rents; projected 6.91% cap rate upon occupancy; Recent interior upgrades include new LVP flooring, interior paint, cabinetry, and countertops in Unit E, plus a new dishwasher in the vacant owners unit
