498 Capital ST Open House Save Request In-Person Tour Request Virtual Tour
Oakland,CA 94610
OPEN HOUSE
Tue Jul 01, 12:00pm - 2:00pm
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,490 sqft
Price per Sqft $322
MLS Listing ID ML82012249
Bedrooms 4
Full Baths 6
Year Built 1960
Lot Size 4,070 Sqft
Property Sub-Type Five or More Units
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
Area Oakland Zip Code 94610
Zoning RM-3
Rooms
Other Rooms Laundry Room,Storage
Interior
Heating Central Forced Air - Gas
Cooling Ceiling Fan
Flooring Carpet,Tile
Laundry Washer / Dryer
Exterior
Exterior Feature Balcony / Patio,Porch - Enclosed
Parking Features Carport
Garage Spaces 5.0
Community Features None
Utilities Available Individual Electric Meters,Individual Gas Meters,Public Utilities
Roof Type Bitumen
Building
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Others
Special Listing Condition Not Applicable