Description

Rare value-add multifamily opportunity in the heart of Central Alameda! 1718 Alameda Ave is a 6-unit property offering investors immediate upside, with three junior 1-bedroom units to be delivered vacant at close of escrow—providing a new owner the opportunity to renovate, reposition, and establish market rents from day one. The approximately 4,559 SF building sits on a spacious, flat 6,750 SF lot and features a versatile unit mix consisting of one studio, four junior 1-bedroom units, and one 2-bedroom/1-bath unit. Adding to the property's potential is a large full-size basement and generous lot with possible opportunity for future ADU development or additional improvements, subject to buyer investigation and City approval. The property is beautifully landscaped and offers multiple avenues to create additional value over time. Owner currently pays water, garbage, and the common-area house meter. Centrally located near shopping, dining, transportation, and all that Alameda has to offer. With 50% of the units delivered vacant, a substantial building footprint, large lot, flexible unit mix, and future development potential, 1718 Alameda Ave presents a compelling opportunity for an investor looking to reposition and maximize the value of a well-located Alameda multifamily asset.