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1220 Chestnut St, Alameda, California 94501, Alameda, 94501 - bed, bath

1220 Chestnut St, Alameda, California 94501 home-pic-0
ACTIVE$1,388,000
1220 Chestnut St, Alameda, California 94501
0Bed
0Bath
Sqft
3,500Lot
Year Built
1918
Close
-
List price
$1.39M
Original List price
$1.39M
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41107987
Home ConditionFair
Features
View-

About this home

We found 3 Cons,6 Pros. Rank: price - $1.39M(86th), sqft - 0(50th), beds - undefined(50th), baths - undefined(50th).

Unit A pictured only. Charming Alameda Triplex, a well-maintained and upgraded rental property in the heart of central Alameda. Offering 3115 sq.ft. of living space on a 3,500 sq.ft. lot, this versatile property includes three separately metered units. Unit A (vacant): A spacious 3-bedroom, 1-bath main-level flat with living space below adding 3 more rooms and 2 full bathrooms, ideal for extended living, guest quarters, office, or storage. Rented Unit B and C each has 1 Bedroom with 1 bath and a bonus attic room. Combined current rent for Units B & C is $2,950/month, with upside potential in leasing large Unit A. Below Unit A are 3 rooms and 2 full bathrooms and connected to Unit A with internal stairs, also separate backyard entries. Upgrades include a concrete foundation, modern plumbing, and updated electrical, dual-pane windows. Each unit has separate gas and electric meters, plus dedicated house meters for owner’s common-area use. Building has a driveway to a detached garage which is used for owner storage and houses coin-operated laundry for tenant use. Easy street parking for tenants. Ultra-convenient location just steps from Chestnut-Encinal Market, and the beloved Blue Dot Café. Minutes to downtown Park Street, Alameda Landing, parks, transit, ferry.

Nearby schools

6/10
Henry Haight Elementary School
Public,•K-5•0.2mi
8/10
Franklin Elementary School
Public,•K-5•0.5mi
9/10
Donald D. Lum Elementary School
Public,•4-5•0.6mi
5/10
William G. Paden Elementary School
Public,•K-5•1.7mi
5/10
Will C. Wood Middle School
Public,•6-8•0.6mi
9/10
Alameda High School
Public,•9-12•0.4mi
7/10
Encinal Junior/Senior High
Public,•6-12•2.0mi

Price History

Date
Event
Price
08/18/25
Listing
$1,388,000
Condition Rating
Fair
The property, built in 1918, benefits from significant functional upgrades including a concrete foundation, modern plumbing, updated electrical, and dual-pane windows, which are crucial for an older building. However, the visible kitchen in Unit A features dated oak cabinets, small square tile countertops, and older appliances, indicating it was likely renovated 15-30 years ago. While the property is well-maintained and move-in ready, these cosmetic elements, along with older-style light fixtures and non-central heating systems, suggest that minor updates are required to meet current aesthetic standards, particularly in the kitchen. The overall condition is functional but shows signs of being outdated in key areas.
Pros & Cons

Pros

Great Schools: Elementary School: Donald D. Lum Elementary School (9/10). High School: Alameda High School (9/10).
Strong Income Potential & Vacancy Upside: Unit A is currently vacant and highly versatile, offering immediate opportunity for a new owner to set market-rate rent or utilize for owner-occupancy, significantly boosting overall income potential for the triplex.
Extensive Modern Upgrades: Key structural and utility systems, including a concrete foundation, modern plumbing, updated electrical, and dual-pane windows, have been recently upgraded, significantly reducing immediate capital expenditure for a new owner.
Separately Metered Utilities: Each unit benefits from separate gas and electric meters, plus dedicated house meters for common areas, simplifying property management and ensuring tenants are responsible for their own utility consumption.
Prime Central Alameda Location: The property is situated in an ultra-convenient and highly desirable area, steps from local markets and cafes, and minutes from downtown, Alameda Landing, parks, transit, and ferry, enhancing tenant demand and property value.
Versatile Unit A Configuration: Unit A's unique layout with additional rooms and two full bathrooms below, connected internally and with separate backyard entries, offers flexibility for extended family, guest quarters, or a home office, appealing to a broader tenant base.

Cons

Age of Property: Constructed in 1918, the property, despite significant upgrades, may still present challenges associated with older buildings, such as potential for unforeseen maintenance issues or less efficient layouts in some areas.
Limited Private Outdoor Space: The 3,500 sq.ft. lot size, accommodating a triplex with over 3,000 sq.ft. of living space, likely results in minimal private outdoor areas for individual units, which can be a disadvantage for tenants seeking more personal green space.
Below Market Rents for Occupied Units: The current combined rent of $2,950/month for Units B & C is likely below market value for Alameda, meaning a new owner would need to navigate local rent control ordinances to realize full income potential, which can be a lengthy process.

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