339 Hanover Ave, Oakland, California 94606, Oakland, 94606 - 0 bed, 0 bath
Loading property details...
Oakland, California 94606
This Residential Income Triplex presents a High-Potential Investment Opportunity with a List Price of $1,495,000—positioned well below the $1,548,747 Fair Market Value by 3%. This valuation gap offers $53,747 in Instant Equity. Featuring a 4,190 sqft layout with a bonus studio cottage and partial Lake Merritt views, the property maintains a Condition Rating of 4, signaling a need for capital improvements. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, high-yield asset in a prime Oakland location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 339 Hanover Ave Subject | $1,495,000* List Price | 0 | 0 | 4,190 | $370 | - |
A 2257 Park Blvd Active | $1,090,000 List Price | 0 | 0 | 2,728 | $400 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a 1910 build that retains original architectural character but shows visible wear on interior woodwork and exterior decking. While functional and generating significant rental income, the listing explicitly notes 'deferred capital improvements,' and the lack of documented recent renovations to kitchens, baths, or systems places it in the dated category requiring minor to moderate updates.
Elementary School: Crocker Highlands Elementary School (9/10).
The property generates a robust gross income of over $138,000 annually with a projected 6% cap rate, offering immediate cash flow and value for savvy investors in a high-demand area.
Situated just one block from Lake Merritt, the residence provides exceptional walkability to Trader Joe's, vibrant dining on Grand and Lakeshore Avenues, and easy access to BART and major freeways.
While some local elementary schools are highly rated, several assigned middle and high schools in the immediate area have low performance scores, which may deter family-oriented long-term tenants or buyers.
Built in 1910, this century-old structure likely requires significant ongoing maintenance and potential capital expenditures to update aging systems and preserve its architectural integrity.
Experience the best of Oakland living with this stately and versatile multi-family residence nestled in the heart of the vibrant Cleveland Heights neighborhood. This impressive property blends early 20th-century architectural character with the spaciousness and flexibility required for today’s urban lifestyle. Featuring 3 spacious multi-bedroom units and a bonus studio cottage, off street parking, basement laundry and storage and ~ 4,190 sqft of living space on a 7,250 sqft lot, the property is yielding a solid gross income of over $138,000/yr with a currently projected cap rate of 6% for the savvy investor seeking a high-demand location. It has previously been an ideal owner-occupant home with great rental income, and could serve in the future as a great multi-generational living setup with a large level yard and decks. Situated just a block from the iconic Lake Merritt and Lakeside parks, 339 Hanover puts you at the center of it all with multi-cultural dining options, Trader Joe's and all the amenities of Grand and Lakeshore Avenues, downtown Oakland and nearby Jack London Square. Commuting is a breeze with close proximity to AC Transit, Lake Merritt BART, and major freeways to San Francisco and greater East Bay. Open Next Sunday 5/31 2-4pm and Next Monday 6/1 11a-1p.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,190 | 2,312 | 75% |
| Lot Size | 7,250 | 4,424 | 75% |
| Price | $1.50M | $985.0K | 75% |
| Price per sq ft | $357 | $315 | 63% |
| Built year | 1910 | 1920 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 204 | 13% |
May 15, 2026
$1,495,000
Initial Listing
Aug 10, 1999
$389,000
Public Record