574 Merritt Avenue

Oakland, CA 94610 View Map $1,795,000 Schedule a Tour
Sq.Ft.3,622
Year1925

Rebecca White

(415) 412-1977

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Status: Active
Property Type:Quadruplex
MLS #:422652468
Sq. Feet:3,622
On Site:24 Days
Lot Size:3,941 Sq. Ft.
County:Alameda
568-574 Merritt Ave is a huge, pride of ownership 4-plex with classic 1920's character centrally located in Cleveland Heights. Built in 1925, the 3,622 SF structure is situated on a 3,941 SF lot. The property has an ideal unit mix of 4 large 1-bedroom, 1-bathroom units that provide the potential opportunity to add bedrooms and convert to 2-bedroom units. The units average approximately 905 SF each. Every unit is individually metered for gas & electric. The property also features 4 secured garages that can be rented out for additional income. The garages provide the potential opportunity to complete an accessory dwelling unit (ADU) conversion & increase the total unit count. The property is also located in the RU-2 Zoning District which may allow for the addition of units. The in place rents are approximately 22% below market rate and provide the opportunity to increase the NOI by 65%.

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Community Information

Address:574 Merritt Avenue Oakland, CA 94610
County:Alameda
City:Oakland
Zip Code:94610
Neighborhood:2610

Architecture

Year Built:1925
Stories:3
Construction Materials: Frame, Lap Siding, Stucco, Wood
Number of Buildings: 1
Roof: Composition, Shingle
Foundation: Concrete, ConcretePerimeter, Piling
Basement: Partial

Features / Amenities

Interior Features: Storage Area(s)
Appliances: Free Standing Freezer, Free Standing Gas Oven, Free Standing Gas Range, Free Standing Refrigerator, Gas Water Heater
Flooring: Carpet, Linoleum, Tile, Wood
Laundry: In Each Unit, Washer/Dryer Hookups
Exterior Features: Yard Space
Patio And Porch: Balcony/Deck, Varies by Unit
Parking Features: Attached, Garage
Parking Total: 4.0
Garage Spaces: 4.0
Heating: Radiant, Steam
Total Rooms:17

Property Features

Lot Size: 0.09 Acres / 3,941 Sq. Ft.
Lot Dimensions:0.0905
Lot Features: Shape Regular
Sewer: Public Sewer
Water: Public
Zoning:RU-2

Tax and Financial Info

Cap Rate: 6.57
Tenant Pays: Electricity, Gas

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574 Merritt Avenue Oakland, CA 94610
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574 Merritt Avenue Oakland, CA 94610
 
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Listing Information Last Updated 5/18/2022
Listing provided courtesy of Cbre.
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