$1,650,000Size Upon Req.
3 buildings in 1 lot total 5 units. Front two duplex total 4 units of 1 bedroom/1 bath. Back unit is a 2 story single family. Upper level is a 4 bed 2 bath apartment, lower level is 6 garages. Newer built about 2004. Front 2 dupex changed roof and windows about 2006. All units have updated bath and newer double pane windows. Newer roof. Most units are hardwood floor. Separate water, PG&E meters, most tenants pay for their own water, PG&E bills. Sewer Lateral in compliance. Many off street parking.
This mixed-use income property is located in a desirable neighborhood on Alameda Island. There is substantial rental upside. The investor can remodel units and pursue significant upside in rents. The commercial space is located on Lincoln, a major thoroughfare for Alameda Island. The multifamily units behind the commercial space face other multifamily properties on Chestnut street. The property is one parcel consisting of two addresses, 2001 Lincoln Ave, and 1604 Chestnut St. The parcel contains one commercial unit and two multifamily units. The commercial space is 3,000 SF and is rented to a local owner: Alameda Grocery Store, which is currently on a 5-year lease. The multifamily units consist of a duplex with a two-bedroom one-bath unit in very good condition, and a one-bedroom one-bath unit in need of repairs. Both units have enclosed garages. There are three separate enclosed garages with garage doors in total. Total Building is 4,980 SF on 3420 SF lot. Construction is stucco over wood frame. The roofs are flat roofs. The retail space is single story, the duplex is two stories.