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560 Merritt Avenue

Oakland, CA 94610
  • $1,385,000
  • STATUS: Active
  • ON SITE: 62 Days
  • MLS #: 422652426
Price Reduced
UPDATED: 46 min ago
$1,385,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,334
    SQFT
  • $415
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1925
County:

School Ratings & Info

Description

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%.

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© 2022 San Francisco Association of REALTORS® Multiple Listing Service. All rights reserved. Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or EXP Realty. Data last updated 2022-06-27T13:20:50.897.
www.sfhothomes.com/homes/128049267
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560 Merritt Avenue Oakland, CA 94610

  • Price: $1,385,000
  • Status: Active
  • On Site: 62 Days
  • Updated: 46 min ago
  • MLS #: 422652426
0
Beds
0
Baths
0
½ Baths
N/A
Acres
3,334
SQFT
$415
$/SQFT
1925
Built
Neighborhood:
Oakland Zip 94610
County:
Alameda
Area:
Oakland Zip 94610
Property Description
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%.
Exterior Features

Construction Materials Cement SidingFrameStuccoWood Foundation Details Concrete Independent Parking Spaces 5 Lot Features Shape Regular Parking Features AttachedCoveredGarageOpenUncoveredVaries By UnitSee Remarks Parking Total 5 Roof BitumenFlat Tandem Parking Spaces 0

Interior Features

Appliances Free Standing FreezerFree Standing Gas OvenFree Standing Gas RangeFree Standing RefrigeratorGas Water Heater Basement Partial Flooring CarpetLinoleumTileWoodSee Remarks Heating RadiantSteam Interior Features Storage Area(S) Rooms Total 18 Unit1 Approx Sq Ft 710 Unit1 Bedrooms 0 Unit1 Full Baths 1 Unit1 Partial Baths 0 Unit1of Rooms 4 Unit2 Approx Sq Ft 720 Unit2 Bedrooms 0 Unit2 Full Baths 1 Unit2 Partial Baths 0 Unit2of Rooms 4 Unit3 Approx Sq Ft 960 Unit3 Bedrooms 1 Unit3 Full Baths 1 Unit3 Partial Baths 0 Unit3of Rooms 5 Unit4 Approx Sq Ft 940 Unit4 Bedrooms 1 Unit4 Full Baths 1 Unit4 Partial Baths 0 Unit4of Rooms 5

Property Features

1 Bedroom Rent Range 975-2100 Cap Rate 0 Number Of Units Vacant 0 Property Sub Type Quadruplex Separate Meters ElectricityGasSee Remarks Special Listing Conditions None Studio Rent Range 1950-2500 Subtype Description ApartmentsFlats Tenant Pays ElectricityGas Unit Type Commercial Units Total 0 Unit Type Studio Units Total 2 Unit Type1 Bedroom Units Total 2 Unit Type2 Bedroom Units Total 0 Unit Type3 Bedroom Units Total 0 Unit Type4 Bedroom Units Total 0 Unit1 Identification 560 Unit1 Rent 2500 Unit1 Type Apartment Unit2 Identification 562 Unit2 Rent 1950 Unit2 Rent1 2100 Unit2 Type Apartment Unit3 Identification 564 Unit3 Type Apartment Unit4 Identification 566 Unit4 Rent 975 Unit4 Type Apartment

Listing provided courtesy of Keith Manson of Cbre.


© 2022 San Francisco Association of REALTORS® Multiple Listing Service. All rights reserved. Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or EXP Realty. Data last updated 2022-06-27T13:20:50.897.
 
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EXP Realty
75 Broadway Suite #202
San Francisco CA, 94111