Chestnut ST, Alameda, CA 94501
Chestnut ST, Alameda, CA 94501
Chestnut ST, Alameda, CA 94501
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1st Class Real Estate Mavericks

1st Class Real Estate Mavericks

+1(760) 973-2550
$2,350,000
Est. payment /mo
9,343 Sqft Lot
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Open House

Fri May 29, 11:00am - 1:00pm

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82048178

HOA Y/N No

Year Built 1898

Annual Tax Amount $36,972

Lot Size 9,343 Sqft

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

Area 699 - Not Defined

Zoning R-4

Interior

Heating Electric, Fireplace(s)

Cooling None

Fireplace No

Exterior

Carport Spaces 3

Utilities Available Other

Roof Type Shingle

Building

Water Public

Schools

School District Alameda City Unified

Others

Tax ID 0710269004000

Special Listing Condition Standard

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Listed by Rachel Ivers Compass #02106194

Nearby Locations

1st Class Real Estate Mavericks
1st Class Real Estate Mavericks

Brokerage | License ID: 02245942

+1(760) 973-2550 | 1stclassmavericks@gmail.com

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