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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

Listed by Rachel Ivers • Compass

$2,350,000

Est. payment - /mo

7,715 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 7,715 sqft

Price per Sqft $304

MLS Listing ID ML82048178

HOA Y/N No

Year Built 1898

Lot Size 9,344 Sqft

Property Sub-Type Other

Source Datashare MLSListings

Property Description

AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO. Two (2) Charming Victorian-style apartments located on adjacent parcels located in Alamedas highly sought after Bronze Coast neighborhood. Excellent opportunity for value-add investors. Each property boasts five (5) units each: 925 CHESTNUT ST - (3) 1BR/1BA units, (1) 1BR/2BA unit, and (1) 2BR/1BA owners unit delivered vacant & 931 CHESTNUT ST (2) Studio, (2) 1BR/1BA, and (1) 2x1 unit. The owners unit at 925 Chestnut is currently vacant, allowing for immediate lease up at market rents. The portfolio delivers a 6.82% CAP RATE upon immediate lease-up of four (4) vacant units. Additional income potential exists through garage and tandem parking, and implementation of shared laundry for units currently without in-unit washer/dryers. Extensive renovations across some units at 925 & 931 Chestnut include full interior upgrades, new LVP flooring, interior paint, kitchen countertops and cabinetry. Major electrical improvements include brand new main panels, subpanels, and replacement of existing knob-and-tube wiring. Sewer lateral inspection has also been completed.

Location

State CA

County Alameda

Interior

Heating Electric, Natural Gas

Cooling None

Flooring Hardwood, Laminate, Tile

Fireplace No

Building

Water Public

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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925 & 931 Chestnut Street Alameda, CA 94501

Patricia Beattie

Key Details

Location

Interior

Building

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