1527 8th St 5 Unit Apartment Building $2,244,528 CAD ($448,906 CAD/Unit) 4.09% Cap Rate Alameda, CA 94501

1527 8th Street, Alameda, CA offers discerning buyers the chance to own a stable multifamily asset in a coveted location, just two-blocks from the vibrant amenities of Webster Street.
Astute investors will appreciate not only the superb location, but also the low historical vacancy, minimal maintenance requirements, embedded rental upside available upon tenant turnover, and robust overall appreciation potential.
The unit mix consists of one (1) studio; two (2) one-bedroom one-bath apartments; one (1) two-bedroom one-bath apartment; plus a free-standing one-bedroom one-bath cottage featuring its own generous secluded garden area at the rear of the property.
Residents enjoy a generous and attractive common area garden space at the middle of the parcel. The main building also includes a spacious basement area with bike parking for tenants, two large storage areas, and a coin operated laundry machine and dryer. There is also a private enclosed garage which beckons for a potential future owner-occupant.
Each unit is separately metered for gas and electricity, with the owner responsible only for common area electricity, water, and refuse services.
Numerous improvements have been completed over the years, including high-end interior renovations. The kitchens and bathrooms in several units were updated with custom cabinetry, countertops, and built-ins. The rear cottage was completely renovated in 2022, including updated kitchen and bath.