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$3,499,888
Beds: 4
Baths: 3

Features

  • 7 Total Units
  • (3) 1 Bed x 1 Ba Residential Units

  • (4) Storefronts
  • Large Units
  • Individually Metered for Electric
  • Updated Units
  • Updated Electrical
  • Gate Way to Alamedas Gold Coast
  • Near Booming Alamedas Webster Street
  • Near Public Transportation
  • Close Proximity to Downtown Oakland

Gold Coast Gateway 

1000 Central Avenue Alameda is a 7 mixed-unit building (3 residential – 4 commercial). Unique Asset in good condition. Great Location in central Alameda. Park your money here. Gateway to the Gold Coast. Mixed Use. Turn Key Property. Cash Cow. Stable Income. Ground floor is 4 Commercial Units. 3 -1 bed x 1 ba spacious residential units on second level. All units fully occupied with MARKET RENTS. SERIOUS INVESTORS ONLY. Great exchange property.


NO. OF UNITS: 7
YEAR BUILT: 1936
UNIT MIX:  3 – 1 Bed x 1 Bath Units & 4 – Storefronts
SQ/FT: 5,101
LOT SIZE: 3,650
PRICE: $3,499,888
PRICE PER UNIT: $499,984
PRICE PER SQUARE FOOT: $687

Monthly Gross Income (Market):

Unit #

Type

Current Rent

1000

Store

$1,850.40

1002

Salon

$1,800.00

1004

Salon

$1,800.00

1000-C

1 bed x 1 ba

$2,250.00

1000-D

1 bed x 1 ba

$2,300.00

1000-E

1 bed x 1 ba

$2,200.00

1354

Store (Combo w/ 1000)

$0.00

TOTAL

$12,200.40


Estimated Annual Operating Expenses (Market):

$39,563.00

     Real Estate Taxes (New at 1.130%)

$4,643.04

     Insurance

$1,008.96

     Alameda Municipal Power

$61.80

     PG&E

$1,742.04

     EBMUD

$903.36

     Garbage

$720.00

     Alameda Housing Programing Fee ($120 per door)($120 x 6)

$7,230.00

     Management Fee

$55,872.20

     TOTAL


Annual Gross Income:
$146,404.80 (Market)
Operating Expense: $55,872.20 (Market)
Net Operating Income: $90,532.60 (Market)

GRM: 23.91 (Market)
CAP RATE: 2.59% (Market)

*All information deemed reliable, but not verified or guaranteed. Buyers to verify all information.

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