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 6.13%. The potential development, the 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′.
Property Details
Price:
$2,324,800
MLS #:
41071227
Status:
Active
Baths:
0
Address:
954 Park St
Type:
Residential Income
City:
Alameda
Listed Date:
Aug 28, 2024
State:
CA
ZIP:
94501
Lot Size:
7,421 sqft / 0.17 acres (approx)
Year Built:
1910
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Schools
Interior
Cooling
None
Heating
See Remarks
Exterior
Lot Features
Level with Street
Parking Spots
8.00
Roof
Shingle
Financial
Association Fee
0.00
Tenant Pays
Gas
Map
Community
- Address954 Park St Alameda CA
- CityAlameda
- CountyAlameda
- Zip Code94501
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Courtesy of BHHS Drysdale Properties. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
954 Park St
Alameda, CA
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