{"id":687194,"date":"2024-02-07T17:26:01","date_gmt":"2024-02-07T17:26:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=687194"},"modified":"2024-02-07T17:26:01","modified_gmt":"2024-02-07T17:26:01","slug":"austin-longwell-and-chris-scholfield-announce-unique-investment-opportunity-in-downtown-alameda","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/austin-longwell-and-chris-scholfield-announce-unique-investment-opportunity-in-downtown-alameda_687194.html","title":{"rendered":"Austin Longwell and Chris Scholfield Announce Unique Investment Opportunity in Downtown Alameda"},"content":{"rendered":"

Austin Longwell & Chris Scholfield unveil prime investment: 13-unit property, 6.19% Cap Rate, Downtown Alameda.<\/em><\/p>\n

Austin Longwell, a seasoned commercial real estate agent specializing in multi-family real estate, in collaboration with Chris Scholfield of Lee & Associates, proudly presents an exceptional investment opportunity in the heart of Downtown Alameda. The property, located at 1319-1321 Park St, Alameda, CA, comprises 13 units, offering a remarkable 6.19% Cap Rate.<\/p>\n

\"\"<\/p>\n

Key Property Highlights:<\/strong><\/p>\n

    \n
  1. Prime Downtown Alameda Location:<\/strong> With a 98 walk score and a traffic count exceeding 25,000 per day, the property enjoys a strategic position for commercial success.<\/li>\n
  2. Strong Cap Rate and Upside Potential:<\/strong> Currently operating at a 6.19% Cap Rate, the property offers over 20% realistic upside with a proforma 8% Cap Rate and 8.91 GRM on market rents.<\/li>\n
  3. Strategic Retail Mix:<\/strong> The property boasts three strong-performing retail stores with desirable Park Street frontage, ensuring high visibility and foot traffic.<\/li>\n
  4. Mixed-Use Dormitory Style SRO Units:<\/strong> In addition to retail spaces, the property features 10 dormitory-style SRO units, providing a diverse and income-generating mix.<\/li>\n
  5. NNN Leases and Long-Standing Tenants:<\/strong> The three retail units are on NNN leases with 3-5% annual increases and option periods of 5 years, showcasing stable and reliable income.<\/li>\n
  6. Untapped Potential:<\/strong> The property includes additional square footage that is currently underutilized, presenting an opportunity for updates to increase retail rental rates.<\/li>\n<\/ol>\n

    Austin Longwell, known for his proficiency in real estate investment, sees this property as a trophy asset with immense potential for cash flow. With realistic expenses included, the property is currently operating at a 6.19% Cap Rate. Longwell believes that with moderate improvements, savvy investors could benefit from a proforma 8% Cap Rate.<\/p>\n

    Investors interested in favorable financing options and acquiring this trophy asset are encouraged to contact Austin Longwell at ALEstateInvestments@gmail.com<\/strong> or 626-408-4420.<\/p>\n

    About Austin Longwell:<\/strong><\/p>\n

    \"\" <\/p>\n

    Austin Longwell is a Development Manager at West Shores Realty, leading their Whittier branch. With a background in finance and a passion for real estate investment, Austin has quickly become a prominent figure in the industry. His dedication to client satisfaction and expertise in multi-family real estate make him a sought-after professional.<\/p>\n

    Media Contact<\/span>
    Company Name:<\/strong> West Shores Realty<\/a>
    Contact Person:<\/strong> Austin Longwell | Development Manager
    Email:<\/strong>     Send Email<\/a>
    Phone:<\/strong> +1 626 408 4420
    Address:<\/strong>11260 Whittier Blvd.
    City:<\/strong> Whittier
    State:<\/strong> CA 90606
    Country:<\/strong> United States
    Website:<\/strong>     https:\/\/westshoresrealty.com\/<\/a><\/p>\n

    <\/object>\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

    Austin Longwell & Chris Scholfield unveil prime investment: 13-unit property, 6.19% Cap Rate, Downtown Alameda. Austin Longwell, a seasoned commercial real estate agent specializing in multi-family real estate, in collaboration with Chris Scholfield of Lee & Associates, proudly presents an … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[418,401,417,412,440],"tags":[],"class_list":["post-687194","post","type-post","status-publish","format-standard","hentry","category-Building-Construction","category-Business","category-Marketing-Sales","category-News-Current-Affairs","category-Real-Estate"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/687194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=687194"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/687194\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=687194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=687194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=687194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}