954 Park Street

Alameda, CA 94501

$2,324,800
Price
Beds
4,104 Sq. Ft.
$566 / Sq. Ft.
4,104
Sq. Ft.
$566
per Sq. Ft.

Description

Incredible SixPlex investment property with potential to build two Accessory Dwelling Units (ADUs). The current units are of varying sizes, but are all one bedroom and one bath. Hardwood floors, high ceilings, recently upgraded electrical, and charming detail in each unit. By adding two potential ADUs, in the backyard, at approximately 800 sf each with projected rents of $76,800/year the NOI goes to $143,000 and the CAP rate goes to 6.13%. The potential development, the the size of the ADUs, potential...Incredible SixPlex investment property with potential to build two Accessory Dwelling Units (ADUs). The current units are of varying sizes, but are all one bedroom and one bath. Hardwood floors, high ceilings, recently upgraded electrical, and charming detail in each unit. By adding two potential ADUs, in the backyard, at approximately 800 sf each with projected rents of $76,800/year the NOI goes to $143,000 and the CAP rate goes to 6.13%. The potential development, the the size of the ADUs, potential rents, NOI and CAP rate are not guaranteed by the seller nor the seller's broker. All buyers must complete their own investigation with the City of Alameda and come to their own conclusions. In the rear of the property there is a large yard and parking area that is shared by the tenants. In addition to the main driveway there is a north side walkway that runs the length of the property. The landlord pays for water and garbage for each unit. The Tenant pays electric and gas. The backyard/parking area is approximately 50' x 54'.
  1. Listed by Rich Krinks • DRE #01095444 • BHHS Drysdale Properties

Property Details for 954 Park Street

City
ALAMEDA
Building Type
5 or More Units
Property Sub Type
5 or More Units
Garage/Parking
Parking Area
Total # Parking Spaces
8
LISTING UPDATED: 10/17/2024 11:57 AM

Property Details for 954 Park Street

StatusActive
MLS #41071227
Days on Compass86
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units
Year Built1910
Lot Size0.17 AC / 7,421 SF
CountyAlameda County

Building Information for 954 Park Street

Stories-Residences6Year Built1910Building Size-Lot Size0.17 AC / 7,421 SF

Property Information for 954 Park Street

Features
Feature Details
  • Flooring: Linoleum, Partial Carpeting
Utility Details
  • Cooling: None
  • Heating: Other Heat
  • Water/Sewer: Sewer System - Public, Water - Public
Lot / Property Details
Home Owners Association
  • HOA Amenities: None
Property Details
  • Additional Equipment: Tankless Water Heater, Carbon Mon Detector, Double Strapped Water Htr, Smoke Detector, All Public Utilities, Natural Gas Connected, Individual Electric Meter, Individual Gas Meter
  • City Transfer Tax: Yes
  • Exterior: Wood Frame
  • Lot Description: Level, Regular, Backyard, Landscape Front, Partial Fence
  • Lot Sq Ft Apx: 7421
  • Lot Size Square Feet: 7421.0
  • Roof: Composition Shingles
  • Sq Ft Apx: 4104
  • Year Built: 1910
  • Zoning: R-4
Location Details
  • Directions to Property: Otis then north on Park Street
  • FIPS Code: 06001
  • Census Tract: 4282/3
  • Parcel Number: 70-181-44
  • Printed Neighborhood Rpt: No
  • Board ID: BAY EAST
Multi Family Information
General Details
  • Units Total: 6
  • Basement: None
  • Separate Meters: Electric, Gas
  • Tenant Pays: Cable TV, Electric, Gas
  • Financial Data Source: Projected
Multi Family 5+ Information
Building Details
  • Additional Features-Misc: None
  • Apx Lot Acres: 0
  • Inspection Reports Available: Home, Pest, Sewer Lateral Test
  • On Site Parking Description: Parking Area, Private
Income / Expense Details
  • Gross Rent Multiplier: 11.65
  • Net Operating Income: $142,588
Other Financial Information
  • Cap Rate: 6.13
  • Existing Loan: None
  • Ocpnt Req 24 Hr: Yes
Additional Information
Additional Information
  • Fireplace: No

Property History for 954 Park Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 954 Park Street

Taxable ValueLand$178,990Additions$240,441Total$419,431
Tax Record2024$10,946 ($912 / month)
Home Facts
Total Finished SqFt4,104 SqFtAbove Grade Finished SqFt4,104 SqFtStories2Lot Size7,421 SqFtStyleMulti-Family Res (5+ Units)Year Built1910CountyALAMEDAAPN70-181-44

Schools near 954 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
Frank Otis Elementary School
PublicK to 5

Lincoln 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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954 Park Street is a multi-family home for sale in Alameda, CA 94501. This property was listed for sale on August 28, 2024 by BHHS Drysdale Properties, it's currently listed at $2,324,800. This listing's school district is Alameda Unified School District. Nearby schools include Frank Otis Elementary School, Lincoln Middle School and Alameda High School. 954 Park Street is a 0-bed, 0-bath, 4,104 sqft multi-family home built in 1910.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of BHHS Drysdale Properties, Rich Krinks, DRE #01095444

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.