346 Hanover Avenue

Oakland, CA 94606

$8,500,000
Price
Beds
27,127 Sq. Ft.
$313 / Sq. Ft.
27,127
Sq. Ft.
$313
per Sq. Ft.

Description

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...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.
  1. Listed by Michael H Young • DRE #02003601 • Intero Real Estate

Property Details for 346 Hanover Avenue

Cross Street
Newton Ave
Total Parking Spaces
0

Location

Listing Courtesy of Intero Real Estate, Michael H Young, DRE #02003601
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LISTING UPDATED: 03/13/2024 09:25 AM

Property Details for 346 Hanover Avenue

StatusActive
MLS #424014127
Days on Compass107
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / 5 or More Units
Year Built1965
Lot Size0.26 AC / 11,399 SF
CountyAlameda County

Location

Listing Courtesy of Intero Real Estate, Michael H Young, DRE #02003601
Add your commute

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Building Information for 346 Hanover Avenue

Stories-Residences22Year Built1965Building Size-Lot Size0.26 AC / 11,399 SF

Payment Calculator

$56,432 per month

30 year fixed, 7.25% Interest

Principal and Interest

$46,388

Property Taxes

$10,044

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 346 Hanover Avenue

Summary
Location and General Information
  • Area/District: Oakland Zip 94606
  • Area Short Display: 2606
  • Location Description: Oakland Zip 94606
Taxes and HOA Information
  • APN: 021-0227-008
  • City Transfer Tax Rate: .00%
  • County Transfer Tax Rate: .00%
  • Association: No
Parking
  • Covered Spaces: 0
  • Independent Parking Spaces: 0
  • Carport Spaces: 0
  • Garage Spaces: 0
  • Tandem Parking Spaces: 0
  • Open Parking Spaces: 0
  • Num of Parking Spaces: 0.0
Virtual Tour
Property
Lot Information
  • Square Footage Source: Assessor Auto-Fill
  • Lot Size Source: Assessor Auto-Fill
  • Lot Features: Landscape Front
Property and Assessments
  • Property Condition: Updated/Remodeled
  • Picture Count: 19
  • Photos Provided By: Agent
  • Elevation: 0
  • Units Furnished: None
Green Features
  • Green Verification Year: 0
Interior and Exterior Features
Exterior Features
  • Elevation Units: Feet
  • # of Floors: 0
  • # of Guest Space(s): 0
  • # Of Buildings: 0
  • Stories: 0
  • Levels: Five or More
Interior Features
  • Interior Features: Formal Entry, Skylight(s)
  • Full Bathrooms: 0
  • # of Rooms: 74
Room Information
1 Bedroom Unit
  • # of 1 Bedroom Units: 15
  • 1 Bedroom Annual Occupancy: .00%
  • # of 1 Bedrooms Occupied: 15
2 Bedroom Unit
  • # of 2 Bedroom Units: 6
  • 2 Bedroom Annual Occupancy: .00%
  • # of 2 Bedrooms Occupied: 6
3 Bedroom Unit
  • # of 3 Bedroom Units: 1
  • 3 Bedroom Annual Occupancy: .00%
  • # of 3 Bedrooms Occupied: 1
4 Bedroom Unit
  • # of 4 Bedroom Units: 0
  • 4 Bedroom Annual Occupancy: .00%
  • # of 4 Bedrooms Occupied: 0
Multi Family
Income & Expenses
  • Gross Rent Multiplier: 16.73
  • Gross Income Multiplier: 0.0
  • Utilities Expense: 0.0
Multi-Family Information
  • # Commercial Units: 0
  • Total # Owner Occupied: 0
  • # Studios Occupied: 0
  • # of Studio Units: 0
  • # of Units: 22
  • # Of Units Total: 22
  • # Of Units Vacant: 0
  • # Of Units Leased: 22
  • Total # Leasable: 0
  • Total # Section 8: 0
Unit 1
  • Unit 1 Bedrooms: 0
  • Unit 1 Full Baths: 0
  • Unit 1 Partial Baths: 0
  • Unit 1 Rent: $.00
  • Unit 1 Approx SqFt: 0.0
  • Unit 1 # of Rooms: 0
Unit 2
  • Unit 2 Bedrooms: 0
  • Unit 2 Full Baths: 0
  • Unit 2 Partial Baths: 0
  • Unit 2 Rent: $.00
  • Unit 2 Approx SqFt: 0.0
  • Unit 2 # of Rooms: 0
Unit 3
  • Unit 3 Bedrooms: 0
  • Unit 3 Full Baths: 0
  • Unit 3 Partial Baths: 0
  • Unit 3 Rent: $.00
  • Unit 3 Approx SqFt: 0.0
  • Unit 3 # of Rooms: 0
Unit 4
  • Unit 4 Bedrooms: 0
  • Unit 4 Full Baths: 0
  • Unit 4 Partial Baths: 0
  • Unit 4 Rent: $.00
  • Unit 4 Approx SqFt: 0.0
  • Unit 4 # of Rooms: 0
Rental
Rent Information
  • # Of Units Month to Month: 0
  • Studio Annual Occupancy: .00%

Property History for 346 Hanover Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 346 Hanover Avenue

Taxable ValueLand$2,040,000Additions$5,507,910Total$7,547,910
Tax Record2023$120,526 ($10,044 / month)
Home Facts
Total Finished SqFt27,127 SqFtAbove Grade Finished SqFt27,127 SqFtStories4Lot Size11,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1965CountyALAMEDAAPN21-227-8

Schools near 346 Hanover Avenue

This home is within Oakland Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 12
Rating
School
Distance
Cleveland Elementary School
PublicK to 5

Edna Brewer Middle School
Public6 to 8

Oakland High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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346 Hanover Avenue is a multi-family home for sale in Oakland, CA 94606. This property was listed for sale on January 12, 2024 by Intero Real Estate, it's currently listed at $8,500,000. It has been on the market for a total of 107 days and was last sold on August 20, 2021. This listing's school district is Oakland Unified School District. Nearby schools include Cleveland Elementary School, Edna Brewer Middle School and Oakland High School. 346 Hanover Avenue is a 0-bed, 0-bath, 27,127 sqft multi-family home built in 1965.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Intero Real Estate, Michael H Young, DRE #02003601

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.