459 Wayne Ave

Oakland CA 94606

2547 sq. ft.

5438 sq. ft.

Duplex

Last sold for $1,450,000

Jatin Mehta, last sold this property on 26 June 2026 after 36 days on market.

Overview

To access the marketing package copy/paste: https://bit.ly/kitehillre. 459 Wayne Ave is a fully remodeled 4-unit apartment building in Cleveland Heights, Oakland, presenting an outstanding investment opportunity for multiple different buyers. Each unit features modernized interiors, with three 1-bedroom units and a 2-bed, 1-bath owner’s unit that’s ideal for an owner-occupier. Previously, the property was successfully rented as medium-term rentals with furnished units. The current owner is open to including the furniture in the sale, allowing the new buyer to continue this strategy seamlessly. Financially, the property is strong, with a Gross Rent Multiplier (GRM) of 11.64 and a cap rate of 5.53%. It generates a monthly rental income of $10,735, totaling $128,820 annually ( Including laundry ). The property has been fully remodeled, including rewiring and some exterior updates, such as new paint, fascia, and soffit work. Additional amenities include 4 off-street parking spaces, 1 garage, coin-operated laundry, and a shared common space in the back. Moreover, the property is entitled for the development of 20 new apartment units, offering a prime opportunity for investors looking to expand or redevelop. This potential for growth in Oakland's thriving rental market makes the property a versatile and promising investment. Whether you’re seeking a stable income-generating asset or interested in a larger development project, this property offers significant flexibility and growth potential, making it a valuable addition to any real estate portfolio.

Features

1 carspace

1 garage space

2547 sq. ft. floor area

5438 sq. ft. lot size

Duplex

Estimated Value

Based on this property and similar duplexes sold in Oakland over the last 12 months, the estimated median property value of 459 Wayne Ave is $825k.

Median value

$825k

Estimated value range

$400k - $1.45m

Median days on market

Estimated value trend

-8%

decrease over the last 12 months

Average days on market is based on recent, comparable sales in Oakland. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 459 Wayne Ave

2026

Sold

$1,450,000

26 Jun 2026 by Jatin Mehta, of Kite Hill Real Estate

2024

Sold

$1,500,000

22 Oct 2024 by Jatin Mehta, of Pellego

2018

Sold

$1,200,000

10 Jul 2018 by Vanessa Klein, of Coldwell Banker Res. Broker

Happy sellers in Oakland

We have insufficient information to provide an overview of customer satisfaction for Oakland. Viewing the agent profiles, reviews and sales for Oakland can provide insights for this location.