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32318190
32318189

2 Locations

PB
CA CA01873218
Marcus & Millichap - San Francisco
SR
CA CA 01977683
Marcus & Millichap - San Francisco
EC
CA 02216111
Marcus & Millichap - San Francisco
Listed by Marcus & Millichap - San Francisco
$3,500,000
31 days on market
Updated 5 days ago

1833 & 1837 Clinton Avenue

Details
Property Type Multifamily
Units 6
Cap Rate 3.56%
NOI $124,613
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 4.75%
Pro-Forma NOI $166,249
Class C
Year Built 1890
Buildings 3
Acreage 0.300
Zoning R-4

Two Award Winning Single Family Homes + 4-Unit Apartment Building | 100% Occupied

Marketing description

Marcus & Millichap is pleased to present 1833 & 1837 Clinton Avenue, located in Alameda’s historic Leonardville district. Built in 1891 by renowned builder Joseph A. Leonard, these “fraternal twin” Queen Anne Victorians exemplify the craftsmanship and architectural charm that define the neighborhood. Both residences have been thoughtfully preserved and restored, retaining original architectural details like woodwork, coffered ceilings, art glass windows, and finely crafted trim. Beginning in 2009, longtime preservationist and former president of the Alameda Victorian Preservation Society, Jim Smallman, undertook an extensive restoration of the properties. His work included carefully removing the original stucco by hand and full foundation replacement,

returning both homes to their original Victorian character. His exceptional craftsmanship and dedication were recognized with Alameda Architectural Preservation Society (AAPS) Preservation Awards in 2011 and 2015. Today, 1833 and 1837 Clinton Avenue stand as exceptional examples

of Alameda’s Victorian heritage. They are among the few remaining mansion-scale residences built by Joseph A. Leonard that continue to function as single-family homes, with interiors that remain largely intact with their original design. The offering also includes a 1960s fourplex located at the rear of 1833 Clinton Avenue. The fourplex features all two-bedroom, one bathroom

units, each with off-street parking, providing additional income potential.

Investment highlights

1833 CLINTON AVENUE

    • Built: 1891 | Joseph A. Leonard Victorian
    • Award-Winning Restoration: AAPS Preservation Awards (2015)
    • Mixed-Use Income: Victorian mansion + 4-unit rear fourplex
    • Current Income: $12,347/month scheduled | $15,600/month potential (+26.07%)
    • Additional Value-Add: Buyer has ability to add extra square footage by recapturing basement-level space
    • Separate APN: Can be marketed and sold individually

1837 CLINTON AVENUE

    • Built: 1891 | Joseph A. Leonard Victorian
    • Award-Winning Restoration: AAPS Preservation Awards (2011)
    • Iconic Status: Mansion-scale single-family home, largely original interior
    • Current Income: $5,500/month scheduled | $6,000/month potential (+9.1%)
    • Additional Value-Add: Buyer has ability to add extra square footage by recapturing basement-level space
    • Separate APN: Can be marketed and sold individually

PORTFOLIO OPPORTUNITY

    • Two Certified Historic Properties | Six Total Units
    • Buy Together or Separately: Flexibility for different buyer profiles
    • Strong Market Location: Leonardville Historic District | Bay Area icon

Listing Contacts

PB
CA CA01873218
Marcus & Millichap - San Francisco
SR
CA CA 01977683
Marcus & Millichap - San Francisco
EC
CA 02216111
Marcus & Millichap - San Francisco
Listed by Marcus & Millichap - San Francisco

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$124,613.00
$10,384.42/mo

Valuation Metrics

0
DSCR
3.56%
Cap Rate
3.56%
ROI

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Additional Information

Name
Philip Batlin
License
CA01873218
Name
Sam Runco
License
CA 01977683
Name
EJ Cheung
License
02216111
Brokerage
Marcus & Millichap
Brokerage Address
750 Battery Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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