489 48th St

Beds
Baths
3,622 Sq. Ft.
$456 / Sq. Ft.
3,622
Sq. Ft.
$456
per Sq. Ft.

Description

For sale five (5) unit plus one (1) non-conforming unit multi-family investment located at 489 48th Street Oakland, CA. There are two structures on the property: a two story four unit structure at the front of the property constructed of wood frame and stucco on a raised foundation built in 1947. In addition, there is an additional single family residence at the back of the property with separate entrances for the upstairs and downstairs. The downstairs unit can be rented out and is the non-conforming...For sale five (5) unit plus one (1) non-conforming unit multi-family investment located at 489 48th Street Oakland, CA. There are two structures on the property: a two story four unit structure at the front of the property constructed of wood frame and stucco on a raised foundation built in 1947. In addition, there is an additional single family residence at the back of the property with separate entrances for the upstairs and downstairs. The downstairs unit can be rented out and is the non-conforming unit. The total square footage is 3,662 on a 7,500-square foot lot. Located just steps from bustling Telegraph Avenue, this property provides an investor or owner-occupier an extremely rare opportunity to own an income property with tremendous upside with the two (one non-conforming) units will be delivered vacant. The property boasts a Walk Score of 98.
  1. Listed by Karen Mulcahy • DRE #02002780 • Corcoran Global Living

Property Details for 489 48th Street

City
OAKLAND
Dist Neighborhood Subdiv
TEMESCAL
Building Type
5 or More Units
Property Sub Type
5 or More Units
Total # Parking Spaces
5
LISTING UPDATED: 02/24/2021 10:02 AM

Property Details for 489 48th Street

StatusSold
MLS #40917007
Days on Compass95
Taxes$25,160 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCOMM RI MULTI-UNITS 5+ / 5 or More Units
Year Built1947
Lot Size0.17 AC / 7,500 SF
CountyAlameda County

Location

Listing Courtesy of Corcoran Global Living, Karen Mulcahy, DRE #02002780

Sold By Corcoran Global Living, Karen Mulcahy, DRE #02002780

Add your commute

Building Information for 489 48th Street

Stories-Residences5Year Built1947Building Size-Lot Size0.17 AC / 7,500 SF

Payment Calculator

Get preapproved with
OriginPoint Mortgage or Rocket Mortgage1

$10,138 per month

30 year fixed, 6.15% Interest

Principal and Interest

$8,042

Property Taxes

$2,097

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 489 48th Street

Features
Feature Details
  • Flooring: Concrete Slab, Hardwood Floors, Tile, Carpet
Utility Details
  • Cooling: Ceiling Fan(s)
  • Heating: Electric
  • Water/Sewer: Sewer System - Public, Water - Public
Lot / Property Details
Home Owners Association
  • HOA Amenities: Playground
Property Details
  • Additional Equipment: Water Heater Gas, Window Coverings, Carbon Mon Detector, Double Strapped Water Htr, Secured Access, See Remarks, Smoke Detector, All Public Utilities, Internet Available, Natural Gas Connected, Individual Electric Meter, Individual Gas Meter
  • City Transfer Tax: Yes
  • Exterior: Stucco, Wood Frame
  • Lot Description: 2 Houses / 1 Lot, Level, Premium Lot, Partial Fence, Paved
  • Lot Sq Ft Apx: 7500
  • Lot Size Square Feet: 7500.0
  • Roof: Rolled Composition, Composition
  • Sq Ft Apx: 3622
  • Year Built: 1947
  • Zoning: RM2
Location Details
  • Directions to Property: Telegraph to 48th Street
  • FIPS Code: 06001
  • Census Tract: 94609
  • Parcel Number: 13-1150-22
  • Printed Neighborhood Rpt: Yes
  • Board ID: QUATTRO San Francisco
Multi Family Information
General Details
  • Units Total: 5
  • Basement: None
  • Tenant Pays: Electric, Gas
  • Total Deposits: $4,000
  • Financial Data Source: Owner
Multi Family 5+ Information
Unit 1
  • Unit 1 # Units This Type?: 1-bedroom
  • Unit # 1 Occupied By: Tenant
  • Unit # 1 # of Bedrooms: 1
  • Unit # 1 # of Bathrooms: 1
  • Unit # 1 Parking Spaces: 1
  • Unit # 1 Approx SqFt: 600
  • Unit # 1 Rent: 1800
Unit 2
  • Unit 2 # Units This Type?: 1-Bedroom
  • Unit # 2 Occupied By: Tenant
  • Unit # 2 # of Bedrooms: 1
  • Unit # 2 # of Bathrooms: 1
  • Unit # 2 Parking Spaces: 1
  • Unit # 2 Approx SqFt: 600
  • Unit # 2 Rent: 975
Unit 3
  • Unit 3 # Units This Type?: 1-Bedroom
  • Unit # 3 Occupied By: Tenant
  • Unit # 3 # of Bedrooms: 1
  • Unit # 3 # of Bathrooms: 1
  • Unit # 3 Parking Spaces: 1
  • Unit # 3 Approx SqFt: 600
  • Unit # 3 Rent: 950
Unit 4
  • Unit 4 # Units This Type?: 1-Bedroom
  • Unit # 4 Occupied By: Vacant
  • Unit # 4 # of Bedrooms: 1
  • Unit # 4 # of Bathrooms: 1
  • Unit # 4 Approx SqFt: 600
  • Unit # 4 Rent: 2500 PRFMA
Building Details
  • Additional Features-Misc: Wired For Cable TV, Garden, Play Area
  • Apx Lot Acres: 0
  • On Site Parking Description: Parking Area
  • Tot Ann Oper Exp: 37231.0
  • Total Deposits: 4000
Income / Expense Details
  • Annual Exp Year: 37231
  • Annual Gross Sched Income: $144,384
  • Annual Insurance Expense: $1,831
  • Annual License Expense: $1,200
  • Annual Maint Expense: $37,231
  • Annual Mgmt Expense: $0
  • Annual Misc Income: $0
  • Annual Rent Income: $3
  • Annual Taxes: $25,160
  • Annual Util Expense: $5,740
  • Annual Vacancy: 20.0
  • Gross Income: $144,384
  • Gross Operating Actual Income: $107,153
  • Gross Rent Multiplier: 12.8
  • Net Operating Income: $107,153
  • Other Annual Expense: $4,500
Other Financial Information
  • Cap Rate: 5.71
  • Existing Loan: None
  • Ocpnt Req 24 Hr: Yes
Additional Information
Additional Information
  • Fireplace: No

Property History for 489 48th Street

DateEvent & SourcePriceAppreciation
Dec 4, 2020

Sold

MLSListings #MR40917007

$1,650,000
Dec 4, 2020

Sold

EBRD #40917007

$1,650,000
Nov 20, 2020

Sold (Public Record)

Public Record #689039671

$1,650,000
Nov 19, 2020

Pending

EBRD #40917007

Nov 19, 2020

Pending

MLSListings #MR40917007

Sep 12, 2020

Contingent - Show

EBRD #40917007

Sep 11, 2020

Contingent - Show

MLSListings #MR40917007

Sep 11, 2020

Price Change

EBRD #40917007

$1,850,000
Sep 11, 2020

Price Change

MLSListings #MR40917007

$1,850,000
Sep 2, 2020

Price Change

EBRD #40917007

$1,795,000
Sep 2, 2020

Price Change

MLSListings #MR40917007

$1,795,000
Aug 16, 2020

Listed (Active)

EBRD #40917007

$1,850,000
Aug 16, 2020

Listed (Active)

MLSListings #MR40917007

$1,850,000
DateEvent & SourcePrice
12/04/2020

Sold

MLSListings #MR40917007

$1,650,000
12/04/2020

Sold

EBRD #40917007

$1,650,000
11/20/2020

Sold (Public Record)

Public Record #689039671

$1,650,000
11/19/2020

Pending

EBRD #40917007

11/19/2020

Pending

MLSListings #MR40917007

09/12/2020

Contingent - Show

EBRD #40917007

09/11/2020

Contingent - Show

MLSListings #MR40917007

09/11/2020

Price Change

EBRD #40917007

$1,850,000
09/11/2020

Price Change

MLSListings #MR40917007

$1,850,000
09/02/2020

Price Change

EBRD #40917007

$1,795,000
09/02/2020

Price Change

MLSListings #MR40917007

$1,795,000
08/16/2020

Listed (Active)

EBRD #40917007

$1,850,000
08/16/2020

Listed (Active)

MLSListings #MR40917007

$1,850,000

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

Public Records for 489 48th Street

Taxable ValueLand$519,561Additions$1,451,884Total$1,971,445
Tax Record2025$30,384 ($2,532 / month)
Home Facts
Total Finished SqFt4,716 SqFtAbove Grade Finished SqFt4,716 SqFtStories2Lot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1947CountyALAMEDAAPN13-1150-22

Schools near 489 48th Street

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
Public - 9 to 12
Rating
School
Distance
Emerson Elementary School
PublicK to 5

Claremont Middle School
Public6 to 8

Oakland Technical High School
Public9 to 12

Oakland International High School
Public9 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

Similar Sold Homes

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, Inc., its subsidiaries, affiliates and their agents and associated third parties 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 Corcoran Global Living, Karen Mulcahy, DRE #02002780

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.