Oakland, CA 94606,459 Wayne Ave
Oakland, CA 94606,459 Wayne Ave
Oakland, CA 94606,459 Wayne Ave
37
$1,500,000
$1,598,000
6.1%
Est.Price: ?

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5,436 Sqft Lot

459 Wayne Ave Oakland, CA 94606

Est. payment /mo
SOLD DATE : 10/22/2024

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Key Details

Sold Price $1,500,000

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 41071524

Year Built 1920

Lot Size 5,436 Sqft

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

Exterior

Parking Features Garage, On Street

Building

Sewer Public Sewer

Others

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

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California Regional MLS (CRMLS)
Listed by Jatin Mehta • Pellego
Bought with Vinson Trac • Vinson Trac, Broker

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agent

Norma Mardelli

Agent | License ID: 01477249

+1(818) 400-3794

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