1715 Central Ave - Apartments FOR SALE


Alameda, CA 94501- West Alameda
$7,500,000 USD
510-433-5816
1715 Central Ave, Alameda, CA for Sale
$7,500,000 USD
Apartments - FOR SALE
1/7
null | 7.08% Cap Rate

1715 Central Ave
Alameda, CA 94501
West Alameda


HIGHLIGHTS

  • Incredibly Low Sale Velocity Market for 20+ Unit Buildings
  • Attractive basis of $220,588 Per unit
  • In-Place Cap Rate of 7.08%
  • RUBS Implemented
  • Private Patios in Select Units
  • Centralized Location to Premier Retail Corridors

OVERVIEW

1715 Central Avenue is a 34-unit apartment community in Alameda, CA. It is conveniently located blocks from renowned Park Street retail corridor and South Shore Center which contain numerous luxury retailers and dining options. It is less than a mile from the Alameda Hospital and the Alameda Theatre & Cineplex. The subject property was built in 1959 and features (34) residential units - (26) 1-Bedroom / 1-Bath units and (8) 2-Bedroom / 1-Bath units. The residents of 1715 Central Avenue benefit from being located near the various businesses of Alameda including Alameda Golf Works, Grand Market, Bay Area Biscotti Cookies, Blue Dot Cafe & Coffee Bar, Encinal Nursery, Acapulco, and more. The property has a well-maintained courtyard, tuck-under parking, on-site laundry, an elevator, and large patios on the upper floor 2-Bedroom units. The property also provides convenient access to public transportation and major highways. It is 9 minutes from Lake Merritt BART Stations and 7 minutes from I-880.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$329 USD /SF

# OF UNITS

34

PRICE/UNIT

$220,588

CAP RATE

7.08%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Central Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1959

PARKING SPACES

37

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,044 SF

ZONING

R5

APN/PARCEL ID

072-0302-010-00

ASK ABOUT THIS PROPERTY

Ryan RodriguezColliersMore Info
510-433-5816

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Ryan RodriguezColliersMore Info
510-433-5816

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.