Hanover Ave, Oakland, CA

Sold For $1,700,000 Units 5

PROPERTY DESCRIPTION

This 5 unit property on Hanover Ave offers a great investment opportunity. There are two separate buildings with the main building being a 4 unit dwelling with an additional detached unit at the rear of the property. The 4 unit building consists of 4 very spacious 1 bedroom, 1 bath units, each with a living room, dining room, kitchen, bedroom, and bathroom. The rear building offers a 2 bedroom, 1 bath unit. The buildings total approximately 4,728 square feet (per public records) with 5 off-street parking spaces. Residents enjoy a shared garden area perfect for small gatherings. Shared coin-operated laundry. Based on the location and cap rate of 4.47, this property offers an excellent investment opportunity.

PROPERTY LOCATIONThe property is located in the Cleveland Heights neighborhood only 1 block to Lake Merritt. The location is convenient to downtown Oakland and just minutes to the Lakeshore/Grand Avenue shops and restaurants. Public transportation is nearby along with highway 580 for those commuting.