Home | Alameda County | Oakland | 94606 | 459 Wayne Ave
MLS: EB41071524 | Status: Sold | Price: $1,500,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | 2,547 | 5,438 | 1920 |
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
| Field | Value |
|---|---|
| MLS # | EB41071524 |
| MLS Source | Bridge MLS |
| Feature | Details |
|---|---|
| Flooring | Wood |
| Laundry | Coin Operated |
| Cooling | Ceiling Fan |
| Heating | Gas |
| Feature | Details |
|---|---|
| Garage/Parking | Attached Garage, Off-Street Parking, Garage: Car(s) |
| Sewer | Public Sewer |
| Zoning | RU-3 |
Jatin Mehta
Pellego
License #: 02045713
Phone: (949) 929-9562
| # 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 |
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This listing information is up-to-date as of July 02, 2025. For the most current information, please contact Jatin Mehta, (949) 929-9562.