459 Wayne Ave

Oakland, CA 94606 Active for $1,598,000

Overview
Map & Location
Median Values
Schools & Score
Property History
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Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 5,438 sqft

Property Facts

MLS	41071524
Year Built	1920
Property Type	Quadruplex
County	Alameda
Status	Active
Active	$1,598,000
Structure Size	N/A sqft
Lot Size	5,438 sqft
Beds	N/A
Baths

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

Listing information courtesy of: Jatin Mehta, Pellego . *Based on information from the Association of REALTORS/Multiple Listing as of 09/24/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.