It's baaaaaack (the smaller one)--2324 Pacific Avenue, Alameda, CA

Please make it stop.

Just as its failed cousin at 2318 Pacific , 2324 "Possibilities for the Sophisticated Urbanite" Pacific is now back on the market. For $638,000, or $228,000 more than its last known sale price (which was suspiciously low, so perhaps it was a non-arms-length dealio or a repo? it was a regular sale, just in bad shape with lots of repairs needed, including foundation--thanks Ms. Dimacali for the correction).

It's currently known as MLS(r) #40384680:

[...] NEW REMODEL.Legal Duplex!Seperate door.Great for small family to live on 1 floor and rent out 1 floor to help payment.[...] Lot size 4146 sf per Pre-lim.C-M zoning(buyer to check with City)

or #40384685:

[...] NEW REMODEL.Easy to rent out,produce good income.Great for investor to live in 1 unit and rent out 2nd unit.[...] Seller give 2 new refrigerator(Seller's choice) at closing

For some reason, the description reminds me of Manuel from Fawlty Towers.

Update 12/13/08: No comment--

Great Investment Two Lots + Two Houses Pacific/Park St! Open Sunday (alameda) (map)

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Reply to: see below
Date: 2008-12-13, 10:18AM PST



This is a great commercial/residential investment.

Two seperate lots (11000 sqft) + (4000sqft) combined both lots = 15000sqft
can build !!
Two seperate houses (large 4 bedroom) + (Duplex 2 and 3 bedroom)

open sunday 1-5

510-575-6099

Update 3/11/09: This property dropped its price twice while I wasn't paying attention. This has got to be one of the droppingest addresses in all of Alameda when you combine its multiple listings in the past 2-3 years.

$638,000 to $598,000 on 02/07/09
$598,000 to $538,000 on 03/04/09

This property sold for $410,000 last August. It's now listed for $128,000 more (down from $228,000 last December). Because there's only so much renovation you can do in less than 4 months, and because I suspect the flipper contractor owner probably cheaped out on everything and saved a bunch by calling in favors and/or doing the work themselves, let's say the "improvements" cost $30K. Subtract 6% for commissions and we're still looking at a $50,000-$60,000 profit. I don't think so.

The upside is that all the car dealers at the end of the block have decamped permanently, so the stigma of the Alameda auto row is somewhat diminished.