2229 Clinton AveAlameda, CA 94501

This exceptional Alameda, CA investment opportunity presents a well-maintained, two-story apartment building with five units situated on a 7,500 sq ft lot (APN 071-0213-017). The property, zoned R4, boasts a total of 3,328 square feet and offers a compelling cap rate of 3.72% with a Net Operating Income (NOI) of $79,900. The asking price is $2,150,000, translating to $430,000 per unit and $646.03 per square foot. The building comprises four 2-bedroom, 1.5-bathroom units and one larger 3-bedroom, 2.5-bathroom unit, all equipped with electric oven/stove tops, refrigerators, and dishwashers. Four units enjoy private backyard spaces. Covered off-street parking is provided for each unit, along with a shared laundry room for tenant convenience. A fenced outdoor patio at the rear offers a communal area. Current rental income varies, with 2-bedroom, 1.5-bathroom units renting for $1903, $1933, and $2752, and the 3-bedroom, 2.5-bathroom unit renting for $2156. This property is held in trust and is offered for sale by owner. This is a turnkey investment opportunity with strong rental income and desirable tenant amenities in a prime Alameda location (2229 Clinton Ave, Alameda, CA 94501).