CA
Alameda
OAKLAND
94610
498 Capital Street
498 Capital Street, OAKLAND, CA 94610
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Listing Type
Multi Family
Listing Status
active
25
$1,450,000

Home Details for 498 Capital Street

Price
$1,450,000
Type
Residential Income
Bedrooms
0
Bathrooms
Square feet
4490
Year built
1960
Lot size acres
0.0934
County
Alameda
Garage
5
Days on site
89
MLS Listing#
ML82012249
Listed By: Compass - 415-345-3000
Presented by: Ismael Benhamida
Property Description

Situated in Oaklands Cleveland Height neighborhood and two blocks from Oaklands renowned Lake Merritt, 498 Capital Street is a well maintained fiveunit multifamily property. This pride of ownership property was built in 1960 with wood frame and stucco construction on a concrete foundation. The building has one massive vacant three-bedroom/two-bathroom penthouse with views and four one-bedroom/one-bathroom units. Each unit has an individual parking garage. The building is 4,490 square feet and is situated on a 4,070 square foot lot. Each unit is independently metered for gas and electricity. This property offers an investor significant rent and value upside upon unit turnover due to the below market in-place rents. Current ownership has invested over $300,000 in recent capital improvements including a soft story seismic retrofit, private sewer lateral upgrade, electrical panel upgrade, main building water heater, roof work, and more. Furthermore, ownership has approved architectural plans to convert the right most garage and common space behind the garage, into an 800 square foot two-bedroom/two-bathroom unit. The rent growth, shortage of housing units, & ADU potential make 498 Capital Street an exceptional investment for both the cash flow & appreciation minded investor.

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Property Features
  • Heating Information
    • Central
    • Forced Air
    • Natural Gas
  • Cooling Information
    • Ceiling Fan(s)
  • Water Features
    • Public
  • Parking
    • Carport
School Information
School Information for 498 Capital Street, OAKLAND, CA 94610
Elementary School
Cleveland Elementary
Middle School
N/A
High School
N/A
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Based on information from the MLSListings MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Copyright 2025 MLSListings Inc. All rights reserved.

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Last Updated: 2025-07-19 01:45:56
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EXIT REALTY CONSULTANTS
16175 Monterey #A, Morgan Hill, CA 95037
CA DRE# 01424183. Kris Klair Broker.
Margaret Vierra
Associate Broker
Office
209 668 2525
Agent
408 202 3243
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