954 Park St - Apartments FOR SALE


Alameda, CA 94501- South Shore
$1,925,000 USD
510-381-3434
954 Park St, Alameda, CA for Sale
$1,925,000 USD
Apartments - FOR SALE
1/24
null | 4.18% Cap Rate

954 Park St
Alameda, CA 94501
South Shore


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 7.41%. The potential development, 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 a north side walkway that runs the length of the property. The landlord pays for water and garbage for each unit. The Tenant pays electric and gas. The backyard/parking area is approximately 50' x 54'.

FOR SALE DETAILS

PRICE

$1,925,000 USD

PRICE/SF

$385 USD /SF

# OF UNITS

6

PRICE/UNIT

$320,833

CAP RATE

4.18%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,421 SF

ZONING

R-4

APN/PARCEL ID

070-0181-044-00

ASK ABOUT THIS PROPERTY

Richard KrinksBerkshire Hathaway Drysdale PropertiesMore Info
510-381-3434

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Richard KrinksBerkshire Hathaway Drysdale PropertiesMore Info
510-381-3434

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