1820 3rd St Alameda, CA 94501-1836
- Apartment buildings
- 3,311 SF
- 0.20 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1820 3rd St
- Year built
- 1895
- Construction
- WOOD
- Lot size
- 0.20 lot acres
- Property size
- 3,311 SF
- Property type
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alameda
- County
- Alameda
- State
- California
- Longitude
- -122.288
- Latitude
- 37.7777
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
