3229 Elm St, Oakland, California, United States | Homes For Sale at GLOBAL LISTINGS

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Home For Sale

$1,499,900

3229 Elm St
Oakland, California, United States

8bd 5ba

Listed By: Realtyww Info

Listed On: 09/11/2024

Listing ID: GL11229193 View More Details

Description

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 Oaklands Pill Hill neighborhood, its just steps from public transport, dining, shops, and the expanding medical districtwith 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.

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Listed by: Colin Davies