Additional details

Test Qing

knbwvg52360@chacuo.net +1(586) 586-5860

Listed by Ismael Benhamida • Compass

$1,450,000

Est. payment - /mo

4 Beds

6 Baths

4,490 SqFt

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OPEN HOUSE

Tue Jul 01, 12:00pm - 2:00pm

UPDATED:

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

Restrictions None

Tax ID 23-417-1-2

Security Features None

Special Listing Condition Not Applicable

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+1(586) 586-5860

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498 Capital ST Oakland, CA 94610

Test Qing

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