282 Wayne Ave
10 Unit Apartment Building $3,795,000 ($379,500/Unit) 6.20% Cap Rate Oakland, CA 94606
INVESTMENT HIGHLIGHTS
- This building features (9) two-bedroom, two-bath units and a luxurious penthouse, each boasting over 1,000 square feet of living space.
- With a walk score of 83, tenants can easily accomplish errands on foot, surrounded by parks, dining, and amenities.
- Fully compliant with Oakland's soft story ordinance.
- Currently vacant, it awaits a new owner to remodel, with potential for additional bedroom additions.
EXECUTIVE SUMMARY
Built in 1962 just off of Lake Merritt, 282 Wayne is a true trophy property. The property consists of (9) two bedrooms, two bath units and (1) penthouse unit that is one bedroom, one bath. The penthouse has a private deck with amazing views. It's currently vacant and waiting for a new owner to remodel and possibly add on a bedroom. Most units have lake views. Another major asset to the property is that it is fully parked in a neighborhood short on parking. Additionally, the building is compliant with Oakland's soft story ordinance.
282 Wayne is truly an A+ location just steps from Lake Merritt. The building offers amazing lake views and boasts a walk score of 83. Outdoor space in abundance with tenants being in walking distance to the Lake Merritt and Hanover Park & Lakeside Park. Local residents can also enjoy a short walk to grocery shopping at Lucky's and pick up prescriptions and toiletries from Walgreen's. Nearby restaurants include the popular bar and restaurant Portal and the Leaning Tower of Pizza.
282 Wayne is truly an A+ location just steps from Lake Merritt. The building offers amazing lake views and boasts a walk score of 83. Outdoor space in abundance with tenants being in walking distance to the Lake Merritt and Hanover Park & Lakeside Park. Local residents can also enjoy a short walk to grocery shopping at Lucky's and pick up prescriptions and toiletries from Walgreen's. Nearby restaurants include the popular bar and restaurant Portal and the Leaning Tower of Pizza.
PROPERTY FACTS Under Contract
UNIT AMENITIES
- Balcony
- Fireplace
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Oven
- Carpet
- Deck
- Den
- Family Room
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 9 | - | 1,000 |
| 1+1 | 1 | - | 2,000 |
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 021-0226-001-00 | Improvements Assessment | $2,278,651 |
| Land Assessment | $840,325 | Total Assessment | $3,118,976 |
ZONING
| Zoning Code | RMFD (Residential) |
