$ 1,598,000
459 Wayne Ave Oakland, CA 94606
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,598,000
Est. payment /mo
Pending
459 Wayne Ave Oakland, CA 94606
5,436 Sqft Lot
UPDATED:
10/11/2024 05:52 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 41071524
HOA Y/N No
Year Built 1920
Lot Size 5,436 Sqft
Acres 0.1248
Property Description
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
Location
State CA
County Alameda
Zoning RU-3
Interior
Heating Natural Gas
Flooring Wood
Fireplace No
Exterior
Garage Garage, On Street
Parking Type Garage, On Street
Total Parking Spaces 4
Building
Sewer Public Sewer
Others
Tax ID 022030800200
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Listed by Jatin Mehta • Pellego