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PRICE $3,300,000 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE 7,328 sqft
LOT SIZE 6,404 sqft

We are pleased to present this unique commercial property in the center of Downtown Alameda. The property consists of 3 strong performing retail stores with prime Park street frontage and 10 dormitory style SRO units above. The residential units share a coin operated laundry site, kitchenette space, and 4 bathrooms. The shared lounge area could be updated or converted into an office rental, bathroom, extra unit, or storage spacefor additional income. The 3 retail tenants are on year 2 of their 5 year NNN leases with 3-5% increases per year and optionperiods of 5 years. The centralized downtown Alameda location is within a 5 minute walk to many of the city's new and historic businesses, restaurants, landmarks, and cafes making it a near perfect location with a walk score of 98. Robust foot andvehicle traffic counts over 25,000 per day provides excellent business for retail tenants while easy access to BART stations makes this property a convenient location for commuters into the greater Bay Area.The property is currently operating at a 6.19% caprate with actual and realistic expenses included. Withmoderate improvements a savvy investor could reapthe benefits of a realistic pro forma 8% cap rate.Contact our team to see favorable financing optionsand start cash flowing this trophy asset today.

DAYS ON MARKET 73 LAST UPDATED 4/1/2024
YEAR BUILT 1910 COUNTY Alameda
STATUS Active PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
BUYER'S BROKERAGE COMPENSATION 2.500 %
GARAGE None
HOA DUES 0
LOT 6403 sq ft
LOT DESCRIPTION 0-1 Unit/Acre
PARKING None
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 2
WATER Public
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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CONTACT US ABOUT 1321 PARK STREET
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Listed with West Shores Realty, Inc.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from CRMLS as of 6/13/24 4:20 AM PDT. The information being provided by CRMLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

This IDX solution is (c) Diverse Solutions 2024.

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