2019 Shoreline Dr - Apartments FOR SALE


Alameda, CA 94501- South Shore
$14,350,000 USD
650-492-0934
2019 Shoreline Dr, Alameda, CA for Sale
$14,350,000 USD
Apartments - FOR SALE
1/13
null | 5.4% Cap Rate

2019 Shoreline Dr
Alameda, CA 94501
South Shore


HIGHLIGHTS

  • Investors have the opportunity to acquire a well-situated multifamily asset in one of the most desirable locations in the East Bay.
  • The subject property is situated on the Alameda shoreline, offering tenants breathtaking views of the San Francisco skyline.
  • Synergy @ 2019 Shore Line offers tenants and residents beautifully designed two-bedroom and one-bedroom floor plans featuring modern unit amenities.
  • The property has undergone significant capital expenditures with a new roof, newly built staircase, resurfaced pool & freshly painted exterior.
  • Select Units have also been renovated with hardwood flooring, dual pane windows throughout, and stainless steel appliances.
  • Tenants and residents enjoy attractive community amenities including pool, pool house, laundry facilities, and the Alameda Beach just steps away.

OVERVIEW

Synergy @ 2019 Shore Line is a stunning 41-unit apartment community located at 2019 Shore Line Dr on the beautiful beachfront of Alameda, California. Situated on a large parcel of land totaling 1 acre, the subject property was originally constructed in 1964 and has a gross building area of approximately 44,816 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans. Tenant's enjoy beautiful sunsets from their private balcony or patio with views of San Francisco Bay and the San Bruno Hills, and have access to a community pool and picnic area. The property is walking distance to the USPS post office, Alameda Town Center, local schools, numerous parks, and a myriad of restaurants. Additionally, there is easy access to BART, S.F. Bay Ferry, Highway 880, and minutes from Oakland Airport. The subject property has recently undergone over a quarter million dollars of renovations and capital expenditures. Most units feature premium renovations including hard flooring, dual pane windows and stainless steel appliances. The property's exterior has also been updated with a new roof, fresh exterior paint, newly built staircase, and pool resurfacing. The investment appeal of this asset is driven by Alameda's strong employment fundamentals, low vacancy levels, and rapidly growing rental demand. With a world- class location in the heart of the East Bay, Synergy @ 2019 Shore Line presents an attractive choice for Bay Area renters due to its close proximity to major Silicon Valley employers, transportation corridors, shopping, dining and entertainment options.

FOR SALE DETAILS

PRICE

$14,350,000 USD

PRICE/SF

$320 USD /SF

# OF UNITS

41

PRICE/UNIT

$350,000

CAP RATE

5.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Synergy @ 2019 Shoreline Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

074-1245-010-00

ASK ABOUT THIS PROPERTY

Adam LevinLevin JohnstonMore Info
650-492-0934

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Adam LevinLevin JohnstonMore Info
650-492-0934

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