This 33 Unit multifamily property offers the investor the opportunity to purchase a rarely available waterfront property with views of San Francisco Bay. The property is located on the West End of Alameda on the waterfront. The property lends itself well to repositioning: Rents are below market, the units could be further renovated, and the exterior façade and inner courtyard could be improved upon. These changes will enable the investor to increase rents to market level and keep pace with the rising rental rates for the City of Alameda. (See Rental Trends in this document.) The property is known as Bayview Apartments . It has since been converted to an apartment building with 33 units consisting of four (4) 2 bed / 1 bath units (~580 SF) and twenty-nine (29) 1 bed / 1 bath units (~400 SF). Twelve of the units have balconies overlooking The San Francisco Bay. More than twenty-three of the units have been partially renovated with granite counter tops and laminate floors. With additional renovations these could be raised to market level.
|Photo Coming Soon|
· Price: $899,000 · Unit Mix: 3 - One Bedroom/ One Bath Units - 1 Large 1 Bd/1 Ba Unit w/ Dining & Living Room Delivered Vacant - 2 (1)Bd/(1)Ba Units · Building Size: Approx. 2,310 Sq.Ft. (per public records) · Property Type: Triplex · Utilities: - Individually Metered for Gas & Electric - Separate Water Heaters for Each Unit · Sewer Compliance & Gas Shut Off Valve Completed by Seller · Cleared Termite Report · Newer Roof (2012) · Private Patio · Detached Garage · Clean & Vibrant Landscaping *OPEN HOUSE | Sat 8/15 + Sun 8/16 2-4pm*