Six-Plex with ADU
For Sale
$1,625,000
954 Park St, Alameda, CA 94501
Investment property with potential for additional units and increased income.
Property Size4,104 SF
Price / SF$395.96
Days on Market411
Property Features for 954 Park St
General Information
Standard status
Active
Size
4,104 SF
Property subtype
Multi Family
Building Details
Year Built
1910
Listing Agency:
BHHS Drysdale Properties
(510) 523-1144
Listed By:
Rich Krinks · License #01095444
(510) 381-3434
Source:
Exitrealty
Added: Sep 1, 2025
Changed: Sep 1
Last Checked: Sep 15 at 5:36AM
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 BHHS Drysdale Properties
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Investment Insights
Based on property information with market context.
This six-plex investment property features one-bedroom, one-bath units with hardwood floors, high ceilings, and upgraded electrical systems. Each unit contains charming details. The landlord is responsible for water and garbage expenses, while tenants cover electric and gas. A large shared yard and parking area are located at the rear of the property, measuring approximately 50' x 54'. In addition to the main driveway, a walkway runs along the north side of the property. There is potential to build two Accessory Dwelling Units (ADUs) in the backyard.
Key Highlights
- SixPlex investment property with potential to build two Accessory Dwelling Units (ADUs).
- Potential for increased NOI to $161,500 and CAP rate to 9.94% with ADU development (buyer to verify).
- Recently upgraded electrical system.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,451
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,189,020
$1.2M
Cap Rate 7%
$849,300
$849.3K
Cap Rate 9%
$660,567
$660.6K
Market Conditions
NOI Build-Up for 4,104 SF
Gross rent
$114.7K $27.96/SF
− Vacancy
−$6.7K −$1.62/SF
EGI
$108.1K $26.34/SF
− OpEx
−$48.6K −$11.85/SF
NOI
$59.5K $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 Rate 5%
$1,189,020
Cap Rate 7%
$849,300
Cap Rate 9%
$660,567
Alternative Uses
Best Use
Apartment 5plus
$849.3K
$743.1K – $990.9K
NOI $59,451 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$18.71M
$16.37M – $21.83M
NOI $1,309,695 @ 7.0% cap · market cap 80.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,411
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Investment property with potential for additional units and increased income.
Where is this apartment building located?
The property is located at 954 Park St Alameda, CA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: SixPlex investment property with potential to build two Accessory Dwelling Units (ADUs).; Potential for increased NOI to $161,500 and CAP rate to 9.94% with ADU development (buyer to verify).; Recently upgraded electrical system.
