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Multifamily

1701 Shore Line Drive

1701 Shore Line Dr, Alameda, CA 94501

Listing Price: $14,250,000

Cap Rate
4.35%
Number of Units
38
GRM
14.06
Occupancy
96.0%
Price/Unit
$375,000
Price/Gross SF
$454.20
Gross SF
31,374

Investment Overview

Islander Apartments is a stunning 38-unit apartment community located at 1701 Shoreline Dr in
Alameda, CA.

Situated on a parcel of land totaling 1-acre, the subject property was originally constructed in
1961 and has a gross building area of approximately 31,374 square feet, offering its tenants
beautifully designed two-bedroom floor plans. The subject property offers tenants and residents
convenient community amenities including pool, on-site laundry facilities, gated secured
entrance, gated covered parking, bike storage, barbecue/picnic area and individual storage units.
In addition, Islander Apartments also provides tenants with 21 open space and 17 covered space
parking.

The subject property is conveniently located on Shoreline Dr, one of Alamedas main
thoroughfares, which contains various restaurants, stores and retail shops. It is also located
within close proximity to the 1,500-acre Alameda Point Development, one of the largest
development projects in the Bay Area expected to create over 9,000 new jobs.

Alameda is a unique and thriving suburb in the San Francisco Bay Area. Surrounded entirely by
water, this city features distinguished architecture, a mild climate and a diverse culture. The
subject property is within walking distance to great schools, coffee shops, restaurants, movie
theaters and more. The Alameda ferry terminal sits just one mile from the subject property
providing direct access to San Francisco.

The investment appeal of this asset is driven by Alamedas strong employment fundamentals and
low vacancy levels. With a world-class location in the heart of the San Francisco Bay Area,
Islander Apartments presents an attractive choice for East Bay renters due to its close proximity
to major employers, transportation corridors, shopping, dining and entertainment.

Investment Highlights

  • Extremely rare Bay Front investment opportunity in Alameda, CA
  • Desirable unit mix consisting of 100% two-bedroom floor plans, many with bay views
  • Amenities include pool, on-site laundry facilities, gated entrance and bike storage
  • Excellent proximity to the Alameda Point Development creating 9,000 local jobs
  • Three Blocks from Alamedas Central Retail Shopping District
  • Close proximity to Lake Merritt BART Station and quick access to Downtown Oakland

Exclusively Listed By

Listing Price: $14,250,000

Cap Rate
4.35%
Number of Units
38
GRM
14.06
Occupancy
96.0%
Price/Unit
$375,000
Price/Gross SF
$454.20
Gross SF
31,374

Investment Highlights

  • Extremely rare Bay Front investment opportunity in Alameda, CA
  • Desirable unit mix consisting of 100% two-bedroom floor plans, many with bay views
  • Amenities include pool, on-site laundry facilities, gated entrance and bike storage
  • Excellent proximity to the Alameda Point Development creating 9,000 local jobs
  • Three Blocks from Alamedas Central Retail Shopping District
  • Close proximity to Lake Merritt BART Station and quick access to Downtown Oakland

Investment Overview

Islander Apartments is a stunning 38-unit apartment community located at 1701 Shoreline Dr in
Alameda, CA.

Situated on a parcel of land totaling 1-acre, the subject property was originally constructed in
1961 and has a gross building area of approximately 31,374 square feet, offering its tenants
beautifully designed two-bedroom floor plans. The subject property offers tenants and residents
convenient community amenities including pool, on-site laundry facilities, gated secured
entrance, gated covered parking, bike storage, barbecue/picnic area and individual storage units.
In addition, Islander Apartments also provides tenants with 21 open space and 17 covered space
parking.

The subject property is conveniently located on Shoreline Dr, one of Alamedas main
thoroughfares, which contains various restaurants, stores and retail shops. It is also located
within close proximity to the 1,500-acre Alameda Point Development, one of the largest
development projects in the Bay Area expected to create over 9,000 new jobs.

Alameda is a unique and thriving suburb in the San Francisco Bay Area. Surrounded entirely by
water, this city features distinguished architecture, a mild climate and a diverse culture. The
subject property is within walking distance to great schools, coffee shops, restaurants, movie
theaters and more. The Alameda ferry terminal sits just one mile from the subject property
providing direct access to San Francisco.

The investment appeal of this asset is driven by Alamedas strong employment fundamentals and
low vacancy levels. With a world-class location in the heart of the San Francisco Bay Area,
Islander Apartments presents an attractive choice for East Bay renters due to its close proximity
to major employers, transportation corridors, shopping, dining and entertainment.

Exclusively Listed By

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