1501 Encinal Avenue in Alameda is a rare opportunity for investors looking for a charming 6-unit building in a prime location. The property is centrally located on the edge of the desirable Gold Coast neighborhood close to Franklin Park, recreation, retail, easy transportation options to San Francisco, the Alameda Farmer’s Market, the famed Alameda Beach, Alameda Point attractions, and more. The building is situated in historic Morton Station amid iconic Victorians and tree-lined streets and offers 6 studio apartments providing a delightful living experience for tenants. The property also offers a 3 garage spaces and 5 storage units for additional income opportunity. In the rear of the property there is a delightful yard for barbeques, container gardening, and relaxation. There is also an opportunity to create a laundry room in a storage unit adjacent to the garage with existing hook ups. Additionally, the building offers 1 unit delivered vacant. Tenants are responsible for electricity and gas while the owner is responsible for water, sewer, and garbage. The property offers strong yearly income of approximately $106,908 (when 100% occupied and two planned rent increases are in place).
All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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