Property Details
Upcoming Open Houses
About this Property
Situated in Oaklands Cleveland Height neighborhood and two blocks from Oaklands renowned Lake Merritt, 498 Capital Street is a well maintained fiveunit multifamily property. This pride of ownership property was built in 1960 with wood frame and stucco construction on a concrete foundation. The building has one massive vacant three-bedroom/two-bathroom penthouse with views and four one-bedroom/one-bathroom units. Each unit has an individual parking garage. The building is 4,490 square feet and is situated on a 4,070 square foot lot. Each unit is independently metered for gas and electricity. This property offers an investor significant rent and value upside upon unit turnover due to the below market in-place rents. Current ownership has invested over $300,000 in recent capital improvements including a soft story seismic retrofit, private sewer lateral upgrade, electrical panel upgrade, main building water heater, roof work, and more. Furthermore, ownership has approved architectural plans to convert the right most garage and common space behind the garage, into an 800 square foot two-bedroom/two-bathroom unit. The rent growth, shortage of housing units, & ADU potential make 498 Capital Street an exceptional investment for both the cash flow & appreciation minded investor.
MLS Listing Information
MLS #
ML82012249
MLS Source
MLSListings, Inc.
Days on Site
21
Interior Features
Appliances
Washer/Dryer
Flooring
Carpet, Tile
Cooling
Ceiling Fan
Heating
Central Forced Air - Gas
Exterior Features
Roof
Bitumen
Foundation
Concrete Perimeter
Parking, School, and Other Information
Garage/Parking
Carport, Garage: 5 Car(s)
Elementary District
Oakland Unified
High School District
Oakland Unified
Sewer
Public Sewer
Water
Public
HOA Fee
$0
Complex Amenities
None
Zoning
RM-3
Contact Information
Listing Agent
Ismael Benhamida
Compass
License #: 01722847
Phone: (408) 373-6195
Co-Listing Agent
Hanna John Azar
License #: 02005698
Phone: (415) 875-0177
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 4 | 5 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | – | 1 | 1/0 | – | $1,350 | 1 |
| 2 | – | 1 | 1/0 | – | $2,283 | 2 |
| 3 | – | 1 | 1/0 | – | $1,379 | 1 |
| 4 | – | 1 | 1/0 | $1,971 | – | 1 |
| 5 | – | 3 | 2/0 | $3,995 | – | 1 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
498 Capital St is a Residential Income in Oakland, CA 94610. This 4,490 square foot property sits on a 4,070 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,450,000 and was built in 1960. This address can also be written as 498 Capital St, Oakland, CA 94610.
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This listing information is up-to-date as of July 17, 2025. For the most current information, please contact Ismael Benhamida, (408) 373-6195
