954-956 Park Street
6 Unit Apartment Building | $2,324,800 ($387,467/Unit) | 3.07% Cap Rate | Alameda, CA 94501
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,324,800
- Property Type
-
Multifamily
- Square Feet
- 4,996 SF
Listing Contacts
Richard Krinks
Verified Profile
- Property Info
Property Overview
Incredible SixPlex investment property with potential to build two Accessory Dwelling Units (ADUs). The current units are of varying sizes, but are all one bedroom and one bath. Hardwood floors, high ceilings, recently upgraded electrical, and charming detail in each unit. By adding two potential ADUs, in the backyard, at approximately 800 sf each with projected rents of $76,800/year the NOI goes to$143,000 and the CAP rate goes to 6.13%. The potential development, the the size of the ADUs, potential rents, NOI and CAP rate are not guaranteed by the seller nor the seller's broker. All buyers
must complete their own investigation with the City of Alameda and come to their own conclusions.
In the rear of the property there is a large yard and parking area that is shared by the tenants. In addition to the main driveway there is anorth side walkway that runs the length of the property. The landlordpays for water and garbage for each unit. The Tenant pays electricand gas. The backyard/parking area is approximately 50' x 54'.
must complete their own investigation with the City of Alameda and come to their own conclusions.
In the rear of the property there is a large yard and parking area that is shared by the tenants. In addition to the main driveway there is anorth side walkway that runs the length of the property. The landlordpays for water and garbage for each unit. The Tenant pays electricand gas. The backyard/parking area is approximately 50' x 54'.
Property Details
- Class
- C
- Year Built
- 1910
- Stories
- 2
- Lot Size (sq. ft)
- 7,405 SF
- Units
- 6
Highlights
- Great Location
- Six Units
- 100% Occupied
- Development Potential
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