459 Wayne Ave, Oakland, CA 94606
- $1,450,000
- 5
- BD
- 2,547
- SqFt
Listed by Jatin Mehta, (510) 878-6800 from Kite Hill Real Estate
(If provided) CoList: from
Sold listing courtesy of Amin Kuchaki Rafsanjani from PY2PP
- Sold Price
- $1,450,000
- List Price
- $1,500,000
- Closing Date
- Jun 26, 2026
- MLS#
- EB41135461
- Status
- SOLD
- Sqft. of Residence
- 2,547
- Lot Size
- 5,438
- Listing Area
- Oakland Zip Code 94606
Property Description
To access the marketing package copy/paste: https://bit.ly/kitehillre. 459 Wayne Ave is a fully remodeled 4-unit apartment building in Cleveland Heights, Oakland, presenting an outstanding investment opportunity for multiple different buyers. Each unit features modernized interiors, with three 1-bedroom units and a 2-bed, 1-bath 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 Gross Rent Multiplier (GRM) of 11.64 and a cap rate of 5.53%. It generates a monthly rental income of $10,735, totaling $128,820 annually ( Including laundry ). 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 proper
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Additional Information
- Acres
- 0.12
- Cooling System
- Other
- Exterior Features
- Stucco
- Floor Covering
- Wood
- Garage Parking
- Detached Garage, Tandem Parking
- Heating System
- Gas
- Living Area
- 2,547
- Lot Description
- Regular
- Lot Size
- 5,438
- Neighborhood
- Oakland Zip Code 94606
- Numberof Units
- 4
- Roof
- Other
- Unincorporated Yn
- Yes
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