954 Park St, Alameda, CA 94501

Property 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 $161,500 and the CAP rate goes to 9.94%. 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'.