Listing provided courtesy of Intero Real Estate - MLS# 424014127MLS Provider

346 Hanover AvenueOakland, CA 94606

Multi-Family · 27,127 Sq. ft. | 0.26 Acres

$8,500,000 Active

Overview

Time on Site:
33 days
Visits:
2

Assumeable loan currently at a 2.77% interest rate. Invest in a vibrant, turnkey multifamily property ideally positioned near Lake Merritt and Oakland's cultural hub. The ASIA Group Commercial proudly presents 346 Hanover Ave, a meticulously maintained 22-unit apartment building offering an exceptional opportunity for investors seeking stable returns and long-term value. Nestled in the Peralta Heights neighborhood, just two blocks from iconic Lake Merritt, this five-story building boasts unparalleled convenience and a dynamic atmosphere. Offered at 3.69% cap rate, five story building with parking on the ground level (gated) and four stories above. 15 one bedroom, 6 two bedroom, 1 three bedroom; on-site laundry. 100% occupied, all rents current. Built in 1965, extensive renovations completed in 2017. Capital expenditure passthroughs fully complete. Experienced property management in place.

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Facts & Features

  • Type Multi-Family
  • Sq. ft. 27,127
  • Price/Sq.ft. $313
  • Lot 0.26 Acres

General

Association/HOA
  • Association Fee: 0
Building Information
  • Year Built: 1965
Location/Region
  • County Or Parish: Alameda
  • MLS Area Major: Oakland Zip 94606
General Information
  • Property Condition: Updated/Remodeled
  • Property Sub Type: 5 or More Units
  • Property Type: Residential Income
  • Special Listing Conditions: Offer As Is

Interior

Beds/Baths
  • Bathrooms Full: 0
  • Bathrooms Half: 0
  • Bathrooms Three Quarter: 0
General Information
  • Interior Features: Formal Entry,Skylight(s)
  • Levels: Five or More
  • Living Area: 27127.00
  • Rooms Total: 74
  • Stories: 0

Exterior

Lot Information
  • Lot Features: Landscape Front
  • Lot Size Acres: 0.2617
  • Lot Size Square Feet: 11400.00
  • Number Of Buildings: 0
  • Elevation: 0
General Information
  • Number Of Units Total: 22

Neighborhood

Community

94606 (Oakland) Demographics
37
Median Age
15,019
Population Density (per sq. mile)
47%
College Educated
$63,188
Estimated Median Income
2,789
Estimated Total Home Owners
12,265
Estimated Total Renters
19% / 81%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

Elementary Schools
4
Public
Cleveland Elementary
  • Grades: KG - 5
  • Enrollment: 397
1
Public
Franklin Elementary
  • Grades: KG - 5
  • Enrollment: 639
1
Public
Garfield Elementary
  • Grades: KG - 5
  • Enrollment: 645
1
Public
La Escuelita Elementary
  • Grades: KG - 8
  • Enrollment: 389
Middle Schools
4
Public
Downtown Charter Academy
  • Grades: 6 - 8 /
  • Enrollment: 326
1
Public
La Escuelita Elementary
  • Grades: KG - 8 /
  • Enrollment: 389
1
Public
Roosevelt Middle
  • Grades: 6 - 8 /
  • Enrollment: 595
High Schools
1
Public
MetWest High
  • Grades: 9 - 12 /
  • Enrollment: 205
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

Monthly Cost

$
$ %
%
$
$
* Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Market Data

Based on the last 30 days in this zip code

$732,869
Median Sales Price
$537
Median Price per Square Foot
0
Properties Sold
18
New on Market
48
Average Days on Market
36
Properties for Sale
Calculations provided by Reliance Network

History

Date Event Value Agent
3/12/2024Source: San Francisco MLS Added to Database
March 12, 2024