Less than a month after the Alameda Post reported a fire in the Alameda Hotel Apartments at 1415 Broadway, the historic 1926 Spanish Colonial Revival-style hotel with 93 apartments was listed for sale with an asking price of $18.6 million.
The fire didn’t do much damage, and the sale price is well below the Alameda County Tax Assessor’s 2025 estimated value of $21.3 million, according to a report in The Real Deal real estate news. The asking price breaks down to roughly $200,000 per unit and $263 per square foot.
Of the 93 apartments in the complex, 22 are one-bedroom units, 32 are studios, 18 are sleeping units with shared bathrooms, and 21 have private baths, The Real Deal noted. There are also 14 ground-floor retail spaces ranging in size from 132 to 2,520 square feet, as well as an 11,000-square-foot event venue with a ballroom, meeting rooms, and an outdoor courtyard.
Retail units range from 132 to 2,520 square feet, and currently feature a broad spectrum of service, food, and entertainment tenants.
In its listing, Colliers calls the hotel’s configuration “well-suited to Alameda’s diverse renter base drawn to the island’s relative tranquility and proximity to major Bay Area employment centers.” The listing also states that the property has been carefully maintained and “stands as one of the city’s most storied and recognizable mixed-use assets, a generational holding unburdened by historical preservation restrictions.”
The $18.6 million asking price reflects softened apartment values across the East Bay. However, “older properties have generally held up better than newer construction, which has struggled under financing pressure and pandemic-era rent declines,” The Real Deal stated.
Nevertheless, an $18.6 million price tag is hardly pocket change. After a down payment of $3.72 million, a 30-year loan at 6.25% interest would break down to a monthly payment of $91,619 according to a real estate affordability calculator—and that’s before property taxes and insurance.
Hopefully an investor who cares about preserving the architecture and culture of Alameda will purchase this historic gem.
