Description

1527 8th Street, Alameda, CA offers discerning buyers the chance to own a stable multifamily asset in a coveted location, just 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 property is comprised of a 0.13-acre parcel with original building construction dating to 1912. The architectural detail and period style is reflective of the boom times on the island during that era. 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. 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. Each unit is separately metered for gas and electricity.