1820 3Rd StAlameda, CA 94501

Property Details for 1820 3Rd St

Year built

1895

Construction

WOOD

Lot size

0.20 AC

Property size (Sq ft)

3,311 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

74-458-12

APU

7445812

Description

This exceptional investment opportunity presents a five-unit multifamily property located at 1820 3rd Street, Alameda, CA 94501. The property consists of two buildings on a single lot in Alameda's desirable West End, comprising five two-bedroom, one-bathroom units. Projected gross annual income is $161,431.68, yielding a 7.48% capitalization rate and a 9.91 gross rent multiplier. Individual unit rental projections are: 1816 ($2,637.00), 1818 ($3,000.00 projected), 1820 ($2,965.64), 306 ($2,350.00), and 308 ($2,500.00 projected). The property benefits from its prime location, offering convenient access to Crown Memorial State Beach, Webster Street's dining and nightlife, Alameda Point's breweries and wineries, and South Shore Center. Excellent commuter access is provided via public transportation, including the SF Bay Ferry and multiple bus lines, as well as easy access to Highway 880. This well-maintained property offers steady rental demand and strong investment returns, making it a rare and compelling opportunity in the Alameda real estate market. The asking price for this lucrative investment is $1,600,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,100,717

  6.5%

  $1,016,047

  7%

  $943,472

• Comparable approach

  Method

  Valuation

  Relative Method

  $976,870

  Geo Method

  $1,431,380

• Alternative Use

  Use

  Valuation

  Residential

  $1,016,047

  Hospitality

  $930,693

  Educational

  $774,326

  Medical

  $800,956

  Retail

  $1,204,507

Location Insight

City

Alameda

County

Alameda

State

California

Latitude

37.7777

Longitude

-122.288

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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