Victorian Multifamily Apartment
931 Chestnut Street Alameda, CA 94501
For Sale
$1,000,000
Pending
Victorian-style apartment building with a mixed unit roster and recent interior, electrical, and sewer lateral improvements.
Property Size3,491 SF
Days on Market63
Property Features for 931 Chestnut Street
General Information
- Standard status
- Pending
- Size
- 3,491 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1904
Listing Agency:
Compass
(650) 576-8294
Listed By:
Rachel Ivers · License #02106194
(650) 576-8294
Source:
Exitrealty
Added: May 22
Changed: Jul 22
Last Checked: Jul 23 at 8:44AM
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 includes (2) studio units, (2) 1BR/1BA units, and (1) 2BR/1BA unit. One unit (Unit E) was recently renovated from a studio into a true 1BR/1BA layout. Recent capital improvements and interior upgrades include new LVP flooring and interior paint in Units C and D, along with updates to common areas. Major electrical work includes brand-new main panels and subpanels, as well as replacement of existing knob-and-tube wiring. A sewer lateral inspection has also been completed.
Located in Alameda’s Bronze Coast neighborhood, the property has vacant units that support immediate lease-up at market rents, with a projected 6.70% cap rate upon occupancy of the vacant units.
In addition to the existing unit interiors, the property offers garage and off-street parking, and it presents an opportunity to add shared laundry for units that currently do not have in-unit washer/dryers.
Located in Alameda’s Bronze Coast neighborhood, the property has vacant units that support immediate lease-up at market rents, with a projected 6.70% cap rate upon occupancy of the vacant units.
In addition to the existing unit interiors, the property offers garage and off-street parking, and it presents an opportunity to add shared laundry for units that currently do not have in-unit washer/dryers.
Key Highlights
- Victorian‑style apartment building built in 1904
- Unit mix includes 2 studios, 2 one‑bedroom/one‑bath units, and 1 two‑bedroom/one‑bath unit
- Unit E recently renovated from a studio to a true 1BR/1BA
Financial Insights For Apartment 5plus
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 | $97.6k | $27.96 |
| − Vacancy | −$5.7k | −$1.62 |
| EGI | $91.9k | $26.34 |
| − OpEx | −$41.4k | −$11.85 |
| NOI | $50.6k | $14.49 |
3,491 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$722.4K
$632.1K – $842.9K
NOI $50,571 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$15.92M
$13.93M – $18.57M
NOI $1,114,071 @ 7.0% cap · market cap 111.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Victorian-style apartment building with a mixed unit roster and recent interior, electrical, and sewer lateral improvements.
Where is this apartment building located?
The property is located at 931 Chestnut Street Alameda, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Victorian‑style apartment building built in 1904; Unit mix includes 2 studios, 2 one‑bedroom/one‑bath units, and 1 two‑bedroom/one‑bath unit; Unit E recently renovated from a studio to a true 1BR/1BA
