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Listed by Marshall P Ward Compass Danville
$ 1,200,000
Est. payment /mo
New
553 Pacific AVE Alameda, CA 94501
3,568 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,568 sqft
Price per Sqft $336
MLS Listing ID 326086829
HOA Y/N No
Year Built 1908
Lot Size 7,501 Sqft
Acres 0.1722
Property Sub-Type 5 or More Units
Property Description
Pleased to present 553 Pacific Avenue, a rare opportunity to acquire a distinctive five unit multifamily asset in Alameda's desirable West End. Comprising a charming Victorian fourplex and a separate three bedroom, one and a half bath rear home, the property offers approximately 3,568 square feet of building area on a 7,500 square foot lot. Additional highlights include a downstairs room offering flexibility as an office or bedroom, a distinctive tower bonus room, and a deck providing inviting outdoor space. Offered at an approximately 7.1% cap rate, this investment combines attractive income with a versatile two building configuration appealing to investors and owner users seeking additional rental income. Updated interiors and high end finishes complement the property's classic architectural character, while on site laundry and bike storage provide added convenience. Ideally situated near Webster Street's established retail and dining corridor and Alameda Farmers' Market, the property also benefits from proximity to Washington Park, Crab Cove, and Crown Memorial State Beach. Access to Alameda's ferry terminals connects residents to San Francisco, rounding out a compelling combination of income, character, and location.
Location
State CA
County Alameda
Area Alameda Map Area 4
Rooms
Basement None
Interior
Heating Central, Natural Gas, Wall Furnace
Cooling None
Laundry Coin Operated
Exterior
Garage Spaces 1.0
Waterfront Description Public
Total Parking Spaces 3
Private Pool No
Building
Lot Description Curbs/Gutters
Sewer Public Sewer
Water Public
Others
Tax ID 0740436002
Special Listing Condition Offer As Is
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