Thursday, January 15, 2009

Looking at the Alameda Condo Market

Yesterday, I took a look at the Alameda Multi-Family of Investment property market and I thought it would be fitting to look at the Condominium and Townhome inventory.

This market has a wide range of properties from a $179,900 one bedroom, one bath foreclosure at the Park Webster Complex to a $1,395,000 three bedroom, two-half bathroom Ballena Bay townhome that sits on the bay with deep-water boat dock. This gives buyer a wide range to choose from in today’s market.

The typical condominium in today’s Alameda market (based on median numbers) is a 1,132 square-foot home with two bedrooms, two bathrooms that has a list price of $404,000. This is very similar to the fourth quarter sales in this market where the median of the 30 sales was 1,321 square-foot homes with two bedrooms, two bathrooms and a sale price of $429,500.

So I thought I would take a look at three properties: The Big, The Small and The Deal.

The Big is 1227 Ballena, this is the property I mentioned in the opening. It is 2,117 Square-feet of water-front living, but has a big price tag; the per-square foot price is $659. This is townhome so it doe not have an apartment feel. Pictures of the property reveal a bright and modern kitchen, a deck over loving the water, and a well maintained home.

The Small is 1170 9th Street #13, this is a 577 square-foot one bedroom, one bathroom at the end of Ninth Street next to the old Bay Wall. The price per square-foot is $518. The complex has an apartment feel, but is in a neighborhood of homes. The complex has a pool and is close to Washington Park, the Dog Park and Webster Street.

The Deal is 1305 Webster St. #C203, based on a square-foot price of $257 only, not need or taste. This is a foreclosure listed for $179,900 at the Park Webster. It is a one bedroom, one bathroom first floor corner unit. The complex has a Pool, sauna, exercise room and community room. Close to shopping, beach, transportation.

Have a great Day!

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