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282 Wayne Ave

10 Unit Block of Flats £3,018,133 (£301,813/Unit) 6.20% Net Initial Yield Oakland, CA 94606

INVESTMENT HIGHLIGHTS

  • This building features (9) two-bedroom, two-bath units and a luxurious penthouse, each boasting over 1,000 square feet of living space.
  • With a walk score of 83, tenants can easily accomplish errands on foot, surrounded by parks, dining, and amenities.
  • Fully compliant with Oakland's soft story ordinance.
  • Currently vacant, it awaits a new owner to remodel, with potential for additional bedroom additions.

EXECUTIVE SUMMARY

Built in 1962 just off of Lake Merritt, 282 Wayne is a true trophy property. The property consists of (9) two bedrooms, two bath units and (1) penthouse unit that is one bedroom, one bath. The penthouse has a private deck with amazing views. It's currently vacant and waiting for a new owner to remodel and possibly add on a bedroom. Most units have lake views. Another major asset to the property is that it is fully parked in a neighborhood short on parking. Additionally, the building is compliant with Oakland's soft story ordinance.
282 Wayne is truly an A+ location just steps from Lake Merritt. The building offers amazing lake views and boasts a walk score of 83. Outdoor space in abundance with tenants being in walking distance to the Lake Merritt and Hanover Park & Lakeside Park. Local residents can also enjoy a short walk to grocery shopping at Lucky's and pick up prescriptions and toiletries from Walgreen's. Nearby restaurants include the popular bar and restaurant Portal and the Leaning Tower of Pizza.

PROPERTY FACTS Under Contract

Price £3,018,133 Apartment Style Low Rise
Price Per Unit £301,813 Building Class C
Sale Type Investment Lot Size 0.14 AC
Net Initial Yield 6.20% Building Size 12,451 SF
Gross Rent Multiplier 10.7 Number of Floors 3
No. Units 10 Year Built 1962
Property Type Multifamily Parking Ratio 0.8/1,000 SF
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Price £3,018,133
Price Per Unit £301,813
Sale Type Investment
Net Initial Yield 6.20%
Gross Rent Multiplier 10.7
No. Units 10
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Low Rise
Building Class C
Lot Size 0.14 AC
Building Size 12,451 SF
Number of Floors 3
Year Built 1962
Parking Ratio 0.8/1,000 SF

UNIT AMENITIES

  • Balcony
  • Fireplace
  • Tile Floors
  • Eat-in Kitchen
  • Kitchen
  • Oven
  • Carpet
  • Deck
  • Den
  • Family Room

SITE AMENITIES

  • 24 Hour Access

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS Avg. Rent.Mo SF
2+2 9 - 1,000
1+1 1 - 2,000
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282 Wayne Ave, Oakland, CA - AERIAL map view - Image1
282 Wayne Ave, Oakland, CA - AERIAL map view - Image2
282 Wayne Ave, Oakland, CA - AERIAL map view - Image3
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 021-0226-001-00 Improvements Assessment £1,812,193
Land Assessment £668,304 Total Assessment £2,480,496

PROPERTY TAXES

Parcel Number
021-0226-001-00
Land Assessment
£668,304
Improvements Assessment
£1,812,193
Total Assessment
£2,480,496

ZONING

Zoning Code RMFD (Residential)
RMFD (Residential)
(510) 281-2824

CONTACT

  • Listing ID: 31601689

  • Date on Market: 24/04/2024

  • Last Updated:

  • Address: 282 Wayne Ave, Oakland, CA 94606

The Cleveland Heights Multifamily Property at 282 Wayne Ave, Oakland, CA 94606 is currently available. Contact The Lapham Company, Inc. for more information.

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282 Wayne Ave, Oakland, CA for sale Building Photo- Image 1 of 16
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Main Entrance
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Side View
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Rear View
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Office Entrance
282 Wayne Ave, Oakland, CA for sale Building Photo- Image 6 of 16
Main Entrance Steps
282 Wayne Ave, Oakland, CA for sale Building Photo- Image 7 of 16
Parking
282 Wayne Ave, Oakland, CA for sale Interior Photo- Image 8 of 16
Classic Kitchen
282 Wayne Ave, Oakland, CA for sale Interior Photo- Image 9 of 16
Living Room
282 Wayne Ave, Oakland, CA for sale Building Photo- Image 10 of 16
Balcony View
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Park View
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Aerial Photo
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Aerial Including Lake
282 Wayne Ave, Oakland, CA for sale Aerial- Image 14 of 16
Aerial of Building
282 Wayne Ave, Oakland, CA for sale Building Photo- Image 15 of 16
Bay View

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282 Wayne Ave
(510) 281-2824 x

282 Wayne Ave

Matt Treadway

(510) 281-2824

(510) 281-2824

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