2310 Pacific Avenue, Alameda, California 94501, Alameda, - bed, bath

home-pic
ACTIVE$1,500,000
2310 Pacific Avenue, Alameda, California 94501
0Bed
0Bath
2,289Sqft
7,467Lot
Year Built
1905
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82022220
Home ConditionGood
Features
Patio
View-

About this home

2310 Pacific Ave presents an exceptional investment opportunity in the heart of Alameda with nearly a 5% cap rate. This four-unit property offers immediate upside, with three of the four units currently vacant and ready to be leased at market rates. The building sits on a massive lot, creating potential for additional income opportunities, while the finished side yard serves as a private retreat. Ample off-street parking adds convenience and value, and the property is situated within the highly sought-after East Alameda school district. Enjoy the lifestyle benefits of this prime location, boasting a high walkability score and close proximity to Alamedas best amenities. Just a short stroll takes you to Park Streets vibrant mix of shops, cafes, and restaurants such as East End Pizza, Burma Superstar, and Alameda Theatre & Cineplex. Parks, beaches, and local favorites like South Shore Center are all within easy reach, making this property not only a smart investment but also an attractive offering for future tenants.

Nearby schools

6/10
Henry Haight Elementary School
Public,K-50.5mi
8/10
Franklin Elementary School
Public,K-51.1mi
9/10
Donald D. Lum Elementary School
Public,4-51.2mi
5/10
William G. Paden Elementary School
Public,K-52.4mi
5/10
Will C. Wood Middle School
Public,6-81.2mi
9/10
Alameda High School
Public,9-120.4mi
7/10
Encinal Junior/Senior High
Public,6-122.6mi

Price History

Date
Event
Price
09/19/25
Listing
$1,500,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (14 Listings)
Beds00
Baths00
Square foot2,2890
0%
Lot Size7,4675,550
80%
Price$1.5M$1.3M
87%
Price per square foot$655$0
93%
Built year19051906
40%
HOA
Days on market47145
7%
Condition Rating
Good

The property, built in 1905, shows evidence of significant recent renovations in common areas and at least two of the four units, making them move-in ready. One kitchen (Image 3) features modern white shaker cabinets, quartz countertops, and stainless steel appliances, indicating a very recent update. Another kitchen (Image 6) is also updated with white cabinets and appliances. However, a third kitchen (Image 9) appears to have an older renovation with honey oak cabinets and laminate countertops, suggesting it's 10-20 years old. The presence of wall-mounted heaters instead of central HVAC and an older coin-operated laundry facility prevent an 'Excellent' rating, as not all major systems and components are new or extensively updated to current standards. Overall, the property is well-maintained and ready for occupancy, fitting the 'Good' criteria.
Pros & Cons

Pros

Exceptional Investment Opportunity: The property is highlighted as an exceptional investment opportunity with nearly a 5% cap rate and immediate upside potential.
Multi-Unit with Vacancy Upside: A four-unit property with three vacant units allows for immediate leasing at market rates, significantly boosting potential income.
Prime Location & High Walkability: Situated in the heart of Alameda with a high walkability score, offering easy access to shops, cafes, restaurants, parks, and beaches.
Large Lot Size & Additional Potential: The massive lot provides potential for additional income opportunities or future development, complemented by a finished private side yard.
Desirable School District & Parking: Located within the highly sought-after East Alameda school district and offers ample off-street parking, adding convenience and value.

Cons

Age of Property: Built in 1905, the property may require significant capital expenditure for deferred maintenance, system upgrades, or modernization to attract premium tenants.
Immediate Leasing & Renovation Burden: While offering upside, filling three vacant units requires immediate effort, marketing, and potentially renovation costs before realizing full income potential.
Limited Financial Transparency: The description mentions a 'nearly 5% cap rate' but lacks detailed current rent rolls for the occupied unit or specific operating expenses, which are crucial for a thorough investment analysis.

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