Property Details
About this Property
Check out the marketing package here: https://bit.ly/kitehillre. This fully remodeled 4-unit apartment building in Cleveland Heights, Oakland, presents an outstanding investment opportunity. Each unit features modernized interiors, with (3) 1-bed and (1) 2-bed owner’s unit that’s ideal for an owner-occupier. Previously, the property was successfully rented as medium-term rentals with furnished units. The current owner is open to including the furniture in the sale, allowing the new buyer to continue this strategy seamlessly. Financially, the property is strong, with a (GRM) of 12 and a cap rate of 5.13%. The property has been fully remodeled, including rewiring and some exterior updates, such as new paint, fascia, and soffit work. Additional amenities include 4 off-street parking spaces, 1 garage, coin-operated laundry, and a shared common space in the back. Moreover, the property is entitled for the development of 20 new apartment units, offering a prime opportunity for investors looking to expand or redevelop. This potential for growth in Oakland's thriving rental market makes the property a versatile and promising investment. Whether you seek a stable, income-generating asset or are interested in a larger development project, this property offers flexibility and
MLS Listing Information
MLS #
EB41071524
MLS Source
Bridge MLS
Interior Features
Flooring
Wood
Laundry
Coin Operated
Cooling
Ceiling Fan
Heating
Gas
Parking, School, and Other Information
Garage/Parking
Attached Garage, Off-Street Parking, Garage: Car(s)
Sewer
Public Sewer
Zoning
RU-3
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| – | – | 4 |
| Unit # | Sq Ft | Beds | Baths | Rent |
|---|---|---|---|---|
| 1 | 508 | 1 | 0/0 | $2,795 |
| 2 | 557 | 1 | 0/0 | $2,500 |
| 3 | 536 | 1 | 0/0 | $2,500 |
| 4 | 823 | 2 | 0/0 | $3,200 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
459 Wayne Ave is a Residential Income in Oakland, CA 94606. This 2,547 square foot property sits on a 5,438 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,500,000 and was built in 1920. This address can also be written as 459 Wayne Ave, Oakland, CA 94606.
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This listing information is up-to-date as of October 23, 2024. For the most current information, please contact Jatin Mehta, (949) 929-9562
