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1186 - 1188 Park Street, Alameda, CA

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1186 - 1188 Park Street

Alameda, CA 94501-5230 - Alameda Submarket

Property Type:Specialty Sub Type:Residential Income Status:Existing Year Built:-
Stories:2 Typical Floor:1,156 SF Building Size:2,311 SF
For Sale Price:$1,098,000 Price/SF:$475.12
Cap Rate:5.52 %

Sale Notes:
Trustee Sale / Duplex with Cash Flow and Upside

Motivated Seller / Trustee Sale / Duplex with Cash Flow and Upside / Prime Location

Please contact the exclusive listing agent, Jon Holmquist, for additional information and the complete offering memorandum.

The subject property at 1186-1888 Park Street is for sale (under power of the successor trustee) on behalf of long term family ownership, that has held the property for over 30 years. The property consists of a desirable duplex ideally located just a block and a half from the Alameda South Shore Shopping Center, and two blocks from the heart of Park Street commerce.

Per property records, the building was constructed on a 2,381 square foot lot circa. 1894/1895 with a brick foundation, wood siding, and a pitched roof. The desirable unit mix consist of a large two-bedroom one-bath upstairs apartment unit of approximately 1,214 square feet and a spacious downstairs one-bedroom one and a half bath unit of approximately 1,097 square feet (buyer to confirm square footage of both units). The property benefits from ample parking, a large backyard, and laundry hook-ups for both units on the rear landing for each level of the property. Units are separately metered for gas and electricity with owner paying water and garbage. Both units are occupied by longer term tenants, and offer huge upside upon turnover, as a new owner moves the rents towards market.

Marcus & Millichap Inc
Jon Holmquist
(415) 625-2117

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