1815 Pearl St
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1815 Pearl St
3 Unit Apartment Building $1,650,000 ($550,000/Unit) 3.54% Cap Rate Alameda, CA 94501
Investment Highlights
- First rate location on a quiet street in desirable East End neighborhood close to schools, services, transit
- Totally rewired and fresh exterior paint
- Large detached single family potential owner's home in front with income generating detached duplex in rear
Executive Summary
Great East End location in highly desirable SF Bay Area HCOL City! Two properties on one lot, single family split level 3-bedroom, 2.5-bath home plus duplex flats in rear, each consisting of two bedrooms and one bath. Home features include living room with fireplace, formal dining room with built in cabinetry and separate breakfast nook, lovely hardwood floors, and laundry area in basement. Separately metered for gas, electric, and water. Great income property with some deferred maintenance in the rear building. Front home in good condition with new water heater and furnace in 2021. Both properties with all new electrical in 2021 so NO KNOB and TUBE WIRING! Long driveway with 1-car garage. Great schools! Shopping center nearby. Excellent investor opportunity.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$72,763
|
$22.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$72,763
|
$22.26
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$14,280
|
$4.37
|
| Net Operating Income |
$58,483
|
$17.89
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $72,763 |
| Annual Per SF | $22.26 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $72,763 |
| Annual Per SF | $22.26 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $14,280 |
| Annual Per SF | $4.37 |
| Net Operating Income | |
|---|---|
| Annual | $58,483 |
| Annual Per SF | $17.89 |
Property Facts
| Price | $1,650,000 | Apartment Style | Low Rise |
| Price Per Unit | $550,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 3.54% | Building Size | 3,269 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1939 |
| Property Subtype | Apartment | Parking Ratio | 0.61/1,000 SF |
| Price | $1,650,000 |
| Price Per Unit | $550,000 |
| Sale Type | Investment |
| Cap Rate | 3.54% |
| Sale Conditions | 1031 Exchange |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,269 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1939 |
| Parking Ratio | 0.61/1,000 SF |
Unit Amenities
- Dishwasher
- Fireplace
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Tub/Shower
- Yard
- Dining Room
- Garden
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,584 | 750 |
| 3+2.5 | 1 | $3,108 | 1,700 |
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Walk Score®
Walker's Paradise (91)
Bike Score®
Biker's Paradise (90)
zoning
| Zoning Code | R-4, Alameda (Residential development) |
| R-4, Alameda (Residential development) |
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1815 Pearl St
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