1515 Park StAlameda, CA 94501

Property Details for 1515 Park St

Year built

1900

Construction

WOOD

Lot size

0.08 AC

Property size (Sq ft)

3,228 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

71-202-15

APU

7120215

Description

This exceptional mixed-use property, located at 1515 Park Street in Alameda, California, presents a unique investment opportunity. Boasting 3,228 square feet on a 0.09-acre lot, this historic building offers a blend of commercial and residential space. The ground floor, completely renovated in 2023, housed a thriving bar featuring a fully equipped kitchen, two bathrooms, and a rear patio ideal for outdoor seating. Five convenient parking spaces are located at the rear of the building. The upper level provides comfortable residential living with three bedrooms, one bathroom, an updated kitchen, and a laundry area. This bright and spacious living space offers the convenience of living above your business. The building's prime location on Park Street places it in the heart of Alameda's vibrant commercial district, surrounded by shopping, dining, and entertainment options, ensuring high visibility and foot traffic. Built in the early 1900s, this property has been a beloved community gathering place for generations, offering a strong foundation for future success. The 2021 updates to both levels, combined with the 2023 bar renovation, ensure this property is move-in ready and well-maintained. This is an ideal opportunity for an owner-operator seeking a live-work situation in a thriving Alameda location. The property's history and location make it a truly unique and desirable investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,490,890

  6.5%

  $1,376,207

  7%

  $1,277,906

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,066,187

  Geo Method

  $900,322

• Alternative Use

  Use

  Valuation

  Residential

  $1,706,496

  Hospitality

  $1,563,141

  Educational

  $1,300,515

  Medical

  $1,345,242

  Retail

  $2,023,024

Location Insight

City

Alameda

County

Alameda

State

California

Latitude

37.766

Longitude

-122.242

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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