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.
Property Details
Price:
$1,499,900
MLS #:
41071857
Status:
Active
Baths:
0
Address:
3229 Elm St
Type:
Residential Income
Subtype:
Triplex
Subdivision:
PILL HILL
City:
Oakland
Listed Date:
Sep 4, 2024
State:
CA
ZIP:
94609
Lot Size:
4,370 sqft / 0.10 acres (approx)
Year Built:
1896
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Schools
Interior
Flooring
Laminate
Heating
Forced Air
Exterior
Lot Features
Corner Lot, Level with Street, Yard
Parking Features
Assigned
Parking Spots
9.00
Roof
Shingle
Financial
Association Fee
0.00
Tenant Pays
Gas
Map
Community
- Address3229 Elm St Oakland CA
- SubdivisionPILL HILL
- CityOakland
- CountyAlameda
- Zip Code94609
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3229 Elm St
Oakland, CA
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