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Listed by Ismael Benhamida • Compass
$1,450,000
Est. payment /mo
4,490 SqFt
Open Tue 12PM-2PM
498 Capital Street Oakland, CA 94610
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OPEN HOUSE
Tue Jul 01, 12:00pm - 2:00pm
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,490 sqft
Price per Sqft $322
MLS Listing ID ML82012249
HOA Y/N No
Year Built 1960
Lot Size 4,070 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
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.
Location
State CA
County Alameda
Interior
Heating Forced Air
Cooling Ceiling Fan(s)
Flooring Tile
Fireplace No
Appliance Refrigerator
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