1321 Park Street
1321 Park Street
$3,300,000
—
7,328
7,328
$450
Description
We are pleased to present this unique commercial property in the center of Downtown Alameda. The property consists of 3 strong performing retail stores with prime Park street frontage and 10 dormitory style SRO units above. The residential units share a coin operated laundry site, kitchenette space, and 4 bathrooms. The shared lounge area could be updated or converted into an office rental, bathroom, extra unit, or storage space
for additional income. The 3 retail tenants are on year 2 of their 5...We are pleased to present this unique commercial property in the center of Downtown Alameda. The property consists of 3 strong performing retail stores with prime Park street frontage and 10 dormitory style SRO units above. The residential units share a coin operated laundry site, kitchenette space, and 4 bathrooms. The shared lounge area could be updated or converted into an office rental, bathroom, extra unit, or storage space
for additional income. The 3 retail tenants are on year 2 of their 5 year NNN leases with 3-5% increases per year and option
periods of 5 years. The centralized downtown Alameda location is within a 5 minute walk to many of the city's new and historic businesses, restaurants, landmarks, and cafes making it a near perfect location with a walk score of 98. Robust foot and
vehicle traffic counts over 25,000 per day provides excellent business for retail tenants while easy access to BART stations makes this property a convenient location for commuters into the greater Bay Area. The property is currently operating at a 6.19% cap
rate with actual and realistic expenses included. With
moderate improvements a savvy investor could reap
the benefits of a realistic pro forma 8% cap rate. Contact our team to see favorable financing options
and start cash flowing this trophy asset today.
for additional income. The 3 retail tenants are on year 2 of their 5...We are pleased to present this unique commercial property in the center of Downtown Alameda. The property consists of 3 strong performing retail stores with prime Park street frontage and 10 dormitory style SRO units above. The residential units share a coin operated laundry site, kitchenette space, and 4 bathrooms. The shared lounge area could be updated or converted into an office rental, bathroom, extra unit, or storage space
for additional income. The 3 retail tenants are on year 2 of their 5 year NNN leases with 3-5% increases per year and option
periods of 5 years. The centralized downtown Alameda location is within a 5 minute walk to many of the city's new and historic businesses, restaurants, landmarks, and cafes making it a near perfect location with a walk score of 98. Robust foot and
vehicle traffic counts over 25,000 per day provides excellent business for retail tenants while easy access to BART stations makes this property a convenient location for commuters into the greater Bay Area. The property is currently operating at a 6.19% cap
rate with actual and realistic expenses included. With
moderate improvements a savvy investor could reap
the benefits of a realistic pro forma 8% cap rate. Contact our team to see favorable financing options
and start cash flowing this trophy asset today.
- Listed by Austin Longwell • DRE #02036524 • Brokerage DRE #01948605 • West Shores Realty, Inc. • 626-408-4420
Property Details for 1321 Park Street
Parking Spaces Total
0
Private PoolNo
Total Units13.0
Building TypeDetached
Lot Size SourceAssessor
Living Area7328
Assessor Parcel Number0710205006
Property Attached YNfalse
Location
LISTING UPDATED: 04/06/2024 02:44 PM
Property Details for 1321 Park Street
Status | Active |
---|---|
MLS # | SB24064103 |
Days on Compass | 60 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1910 |
Lot Size | 0.15 AC / 6,403 SF |
County | Alameda County |
Location
Building Information for 1321 Park Street
Stories2Residences-Year Built1910Building Size-Lot Size0.15 AC / 6,403 SF
Payment Calculator
$20,991 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1321 Park Street
Property History for 1321 Park Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1321 Park Street
Taxable ValueLand$620,540Additions$1,702,943Total$2,323,483
Tax Record2023$35,786 ($2,982 / month)
Home Facts
Total Finished SqFt7,328 SqFtAbove Grade Finished SqFt7,328 SqFtStories2Lot Size6,403 SqFtStyleOffice BuildingYear Built1910CountyALAMEDAAPN71-205-6
Schools near 1321 Park Street
This home is within Alameda Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Love Elementary PublicK to 5 | ||
Will C. Wood Middle School Public6 to 8 | ||
Alameda High School Public9 to 12 | ||
Island High (Continuation) School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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