459 Wayne Avenue

Oakland, CA 94606

$1,500,000
Last Sold Price
5
Beds
Baths
2,547 Sq. Ft.
$589 / Sq. Ft.
2,547
Sq. Ft.
$589
per Sq. Ft.

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...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
  1. Listed by Jatin Mehta • DRE #02045713 • Pellego

Property Details for 459 Wayne Avenue

City
OAKLAND
Building Type
FOURPLEX
Property Sub Type
FOURPLEX
Garage/Parking
Attached Garage, Off-Street Parking
Park Spaces Total
4
Total # Parking Spaces
5
LISTING UPDATED: 10/23/2024 10:21 AM

Property Details for 459 Wayne Avenue

StatusSold
MLS #41071524
Days on Compass41
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / Fourplex
Year Built1920
Lot Size0.12 AC / 5,438 SF
CountyAlameda County

Building Information for 459 Wayne Avenue

Stories-Residences4Year Built1920Building Size-Lot Size0.12 AC / 5,438 SF

Property Information for 459 Wayne Avenue

Features
Feature Details
  • Flooring: Wood
  • Laundry: Coin Operated
Utility Details
  • Cooling: Ceiling Fan(s)
  • Heating: Gas
  • Water/Sewer: Sewer System - Public
Lot / Property Details
Property Details
  • Additional Equipment: Carbon Mon Detector, Smoke Detector, Individual Electric Meter, Individual Gas Meter
  • City Transfer Tax: Yes
  • Exterior: Stucco
  • Lot Description: Regular, Paved
  • Lot Sq Ft Apx: 5438
  • Lot Size Square Feet: 5438.0
  • Roof: Flat
  • Sq Ft Apx: 2547
  • Yard Description: Storage, Yard Space
  • Year Built: 1920
  • Zoning: RU-3
  • Acres: 0.12
Location Details
  • Directions to Property: Google maps
  • FIPS Code: 06001
  • Parcel Number: 022030800200
  • Printed Neighborhood Rpt: Yes
  • Board ID: Bridge AOR
Multi Family Information
General Details
  • All Units Have: Dishwasher, Disposal, Updated Baths, Updated Kitchen
  • Units Total: 4
  • Basement: None
  • Parking Description: Attached Garage, Off Street Parking
  • Separate Meters: Electric
  • Existing Lease Terms: Building Vacant, Month to Month, Security Deposit, Written Agreement
  • Tenant Pays: Cable TV, Electric, Gas
  • Financial Data Source: Owner
  • Addl Property Description: substantial growth potential, making it an attractive addition to any real estate portfolio.
Income / Expense Details
  • Operating Expenses: Insurance, Property Tax/Assessments, Utilities
Unit 1 Details
  • Unit #/Address - 1: 455
  • Occupied By 1: Tenant
  • Dining Room 1: No
  • Air Cond 1: No
  • Fireplace 1: No
  • Refrigerator 1: Yes
  • Range/Oven 1: Yes
  • Bedrooms 1: 1
  • Bathrooms 1: 1
  • Parking Spaces 1: 1
  • Apx Sq Ft 1: 508
  • Rent 1: 2795
Unit 2 Details
  • Unit #/Address - 2: 457
  • Occupied By 2: Vacant
  • Dining Room 2: No
  • Air Cond 2: No
  • Fireplace 2: Yes
  • Refrigerator 2: Yes
  • Range/Oven 2: Yes
  • Bedrooms 2: 1
  • Bathrooms 2: 1
  • Parking Spaces 2: 1
  • Apx Sq Ft 2: 557
  • Rent 2: 2500
Unit 3 Details
  • Unit #/Address - 3: 459
  • Occupied By 3: Vacant
  • Dining Room 3: No
  • Air Cond 3: No
  • Fireplace 3: No
  • Refrigerator 3: Yes
  • Range/Oven 3: Yes
  • Bedrooms 3: 1
  • Bathrooms 3: 1
  • Parking Spaces 3: 1
  • Apx Sq Ft 3: 536
  • Rent 3: 2500
Unit 4 Details
  • Unit #/Address - 4: 461
  • Occupied By 4: Vacant
  • Dining Room 4: No
  • Air Cond 4: No
  • Fireplace 4: No
  • Refrigerator 4: Yes
  • Range/Oven 4: Yes
  • Bedrooms 4: 2
  • Bathrooms 4: 1
  • Parking Spaces 4: 1
  • Apx Sq Ft 4: 823
  • Rent 4: 3200
Multi Family 5+ Information
Building Details
  • ADDTL MISC FEATURES: Cable TV, Wired For, Extra Storage
Additional Information
Additional Information
  • Fireplace: No

Property History for 459 Wayne Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 459 Wayne Avenue

Taxable ValueLand$393,706Additions$918,649Total$1,312,355
Tax Record2024$20,454 ($1,704 / month)
Home Facts
Total Finished SqFt2,547 SqFtAbove Grade Finished SqFt2,547 SqFtStories2Lot Size5,438 SqFtStyleQuadraplexYear Built1920Year Renovated1931CountyALAMEDAAPN22-308-2

Schools near 459 Wayne Avenue

This home is within Oakland Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Cleveland Elementary School
PublicK to 5

Edna Brewer Middle School
Public6 to 8

Oakland High School
Public9 to 12

AIMS College Prep High
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Pellego, Jatin Mehta, DRE #02045713

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.