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1306 - 1308 Pearl Street, Alameda, CA

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1306 - 1308 Pearl Street

Alameda, CA 94501-4714 - Alameda Submarket

Property Type:Specialty Sub Type:Residential Income Status:Existing Year Built:-
Stories:2 Typical Floor:1,024 SF Building Size:2,048 SF
For Sale Price:$1,080,000 Price/SF:$527.34
Cap Rate:5.36 %

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

The subject property at 1306-1308 Pearl 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, which is located on a beautiful tree lined street that consists primarily of attractive single-family homes. Tenants benefit from an easy walk to the Alameda South Shore Shopping Center, and from being two blocks from the heart of downtown Alameda and Park Street commerce.

Per property records, the building was constructed circa 1910, on a large 6,888-square foot lot. The complex was built with wood siding, a pitched roof, and a basement on the ground floor. The bottom ground floor basement is currently divided into storage and laundry on one side (used by tenants) and a spacious garage on the other (which is currently used by the owner). The subject property is perfect for an owner user with large spacious units and a garage capable of accommodating two car tandem parking. The upstairs unit (1308) consists of a large two-bedroom one-bath layout of approximately 1,023 square feet with a small deck landing. The downstairs unit (1306) is a two-bedroom one and a quarter bath unit of approximately 1,025 square feet also with a small deck landing (buyer to confirm square footage of both units). The property has an attractively landscaped, tree lined backyard, plus a sizeable plot of land to the rear 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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