51
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$1,499,900
Est. payment /mo
4,369 Sqft Lot
Active
3229 Elm St Oakland, CA 94609
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UPDATED:
12/05/2024 02:32 AM
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Pill Hill
MLS Listing ID 41071857
HOA Y/N No
Year Built 1896
Lot Size 4,369 Sqft
Property Description
Exceptional, fully-occupied Victorian triplex with extra unit, built in 1896, seamlessly blends historic charm with modern upgrades. The current owner has made significant improvements, including upgraded electrical systems with separate meters for three of the units, modernized plumbing, renovated kitchens and baths, dual-pane windows, recessed lighting, upgraded appliances, tankless water heaters, and updated HVAC system. These enhancements ensure durability, tenant satisfaction, and reduced future expenses, to improve the cap rate. The property generates a gross scheduled annual income of $108,516 and a net operating income of $67,324, offering both stability and growth potential. Situated on a prime corner lot in Oakland’s Pill Hill neighborhood, it’s just steps from public transport, dining, shops, and the expanding medical district—with strong tenant demand for low vacancies. With nine parking spaces, a community laundry room, and three separate utility meters, this triplex offers a rare opportunity to increase income and maximize returns in one of Oakland's most desirable areas.
Location
State CA
County Alameda
Zoning S-1
Interior
Heating Forced Air
Flooring Laminate
Fireplace No
Appliance Dryer, Washer
Exterior
Parking Features Assigned
Roof Type Shingle
Total Parking Spaces 9
Building
Lot Description Corner Lot, Street Level, Yard
Others
Tax ID 974611
Acceptable Financing Cash, Conventional, 1031 Exchange, Owner May Carry
Listing Terms Cash, Conventional, 1031 Exchange, Owner May Carry
Listed by Colin Davies • Security Pacific Real Estate
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