566 Merritt Avenue
566 Merritt Avenue
$1,275,000
2
4
3,334
3,334
$382
Closed 9/12/22
Description
Price Reduced! 560-566 Merritt Ave is a large, vintage pride of ownership 4-plex centrally located in Cleveland Heights. Built in 1925, the 3,334 SF structure is situated on a 3,975 SF lot. The property has an efficient unit mix of 2 large studio units that function as 1-bedroom units & 2 large 1-bedroom units that function as 2-bedroom units. The units avg. approximately 833 SF each. Every unit is individually metered for gas and electric. The property also features a sizable parking area at the...Price Reduced! 560-566 Merritt Ave is a large, vintage pride of ownership 4-plex centrally located in Cleveland Heights. Built in 1925, the 3,334 SF structure is situated on a 3,975 SF lot. The property has an efficient unit mix of 2 large studio units that function as 1-bedroom units & 2 large 1-bedroom units that function as 2-bedroom units. The units avg. approximately 833 SF each. Every unit is individually metered for gas and electric. The property also features a sizable parking area at the back of the building that can fit up to 4 cars. The parking area provides the potential opportunity to add detached accessory dwelling units (ADU) to the property & increase the total unit count. The property is also located in the RU-2 Zoning District which may allow for the addition of units. Current rents are approximately 33% below market rate providing the opportunity to increase the NOI by 114%.
- Listed by Keith Manson • DRE #01490046 • CBRE
- Listed by Zachary W Greenwood • DRE #01960296 • CBRE
Property Details for 566 Merritt Avenue
Parking Features
Attached, Covered, Garage, Open, Uncovered, Varies by Unit, See Remarks
ZoningRU-2
Cross StreetWesley Ave
Total Parking Spaces5
Location
LISTING UPDATED: 09/14/2022 11:03 AM
Property Details for 566 Merritt Avenue
Status | Closed |
---|---|
MLS # | 422652426 |
Days on Compass | 95 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Quadruplex |
Year Built | 1925 |
Lot Size | 0.09 AC / 3,977 SF |
County | Alameda County |
Location
Building Information for 566 Merritt Avenue
Stories2Residences4Year Built1925Building Size-Lot Size0.09 AC / 3,977 SF
Payment Calculator
$8,725 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 566 Merritt Avenue
Property History for 566 Merritt Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 566 Merritt Avenue
Taxable ValueLand$382,500Additions$892,500Total$1,275,000
Tax Record2023$21,203 ($1,767 / month)
Home Facts
Total Finished SqFt3,334 SqFtAbove Grade Finished SqFt3,334 SqFtStories2Lot Size3,975 SqFtStyleQuadraplexYear Built1925CountyALAMEDAAPN23-420-19
Schools near 566 Merritt 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 | ||
Westlake Middle School Public6 to 8 | ||
Oakland Technical High School Public9 to 12 | ||
Aspire Lionel Wilson College Preparatory Academy Charter6 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.
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