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Listed by Compass
$ 2,350,000
Est. payment | /mo
7,715 SqFt
$ 2,350,000
Est. payment | /mo
7,715 SqFt
Open House
Fri May 29, 11:00am - 1:00pm
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,715 sqft
Price per Sqft $304
MLS Listing ID ML82048178
HOA Y/N No
Year Built 1898
Lot Size 9,344 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO. Two (2) Charming Victorian-style apartments located on adjacent parcels located in Alamedas highly sought after Bronze Coast neighborhood. Excellent opportunity for value-add investors. Each property boasts five (5) units each: 925 CHESTNUT ST - (3) 1BR/1BA units, (1) 1BR/2BA unit, and (1) 2BR/1BA owners unit delivered vacant & 931 CHESTNUT ST (2) Studio, (2) 1BR/1BA, and (1) 2x1 unit. The owners unit at 925 Chestnut is currently vacant, allowing for immediate lease up at market rents. The portfolio delivers a 6.82% CAP RATE upon immediate lease-up of four (4) vacant units. Additional income potential exists through garage and tandem parking, and implementation of shared laundry for units currently without in-unit washer/dryers. Extensive renovations across some units at 925 & 931 Chestnut include full interior upgrades, new LVP flooring, interior paint, kitchen countertops and cabinetry. Major electrical improvements include brand new main panels, subpanels, and replacement of existing knob-and-tube wiring. Sewer lateral inspection has also been completed.
Location
State CA
County Alameda
Interior
Heating Electric, Natural Gas
Cooling None
Flooring Hardwood, Laminate, Tile
Fireplace No
Building
Water Public
Jennifer Seidelman
OR Principal Broker #200602051 & CA Real Estate Broker #01319529
+1(925) 864-2888 | jennifer@jenniferseidelman.com