262 Hanover Ave - Apartments FOR SALE


Oakland, CA 94606- Cleveland Heights
$1,575,000 USD
707-363-2463
262 Hanover Ave, Oakland, CA for Sale
$1,575,000 USD
Apartments - FOR SALE
1/35
null | 5.54% Cap Rate

262 Hanover Ave
Oakland, CA 94606
Cleveland Heights


HIGHLIGHTS

  • Steps from the Lake in Oakland’s desirable Cleveland Heights neighborhood, with easy access to Lakeshore and Grand Avenue
  • Attractive Unit Mix – Two (2) large 2BD/1BA units and four (4) 1BD/1BA units, some offering views of Lake Merritt.
  • Well-Maintained Asset – Recent capital improvements include a seismic retrofit, new roof, and interior unit upgrades.
  • Secure Parking & Storage – Six covered parking spaces, on-site laundry, and tenant storage lockers.
  • Excellent Transit Access – Close to Lake Merritt BART Station, multiple AC Transit bus lines, and major commute corridors.
  • Assumable Seller Financing – 5.00% interest rate provides strong day-one cash flow and favorable financing terms for investors

OVERVIEW

The Mitchell Warren Team is pleased to present 262 Hanover Avenue, a six-unit apartment building ideally located just steps from Lake Merritt in Oakland’s desirable Cleveland Heights neighborhood. The property features a balanced unit mix of two (2) spacious two-bedroom/one-bath units and four (4) one-bedroom/one-bath units, some of which offer views of Lake Merritt. Each apartment includes a fireplace and an oversized bathroom with both a soaking tub and a stand-up shower. Recent capital improvements include a seismic retrofit, a new roof, and interior unit upgrades. Additional amenities include secured parking with six covered spaces, an on-site laundry facility, and tenant storage lockers. The property also offers assumable seller financing at a 5.00% interest rate, providing excellent day-one cash flow and an attractive opportunity for investors seeking a stabilized, well-located asset in one of Oakland’s most vibrant submarkets. 262 Hanover Avenue is ideally located in Oakland’s desirable Cleveland Heights neighborhood, just steps from the shores of Lake Merritt. Tenants can enjoy the lake’s recreational amenities and easy access to the vibrant dining and retail scene along Lakeshore and Grand Avenues. Popular local spots include Grand Lake Kitchen, Bardo Lounge & Supper Club, and Colonial Donuts, along with nearby cafés like Haddon Hill Café and 1888 Coffee. Trader Joe’s, the Grand Lake Theater, and the Saturday Farmer’s Market are all just minutes away, creating a true live-work-play environment. The property is also well-connected to public transportation—residents are within easy reach of the Lake Merritt BART Station, multiple AC Transit bus lines, and major commute corridors—making it an exceptionally convenient location for renters seeking both lifestyle and accessibility.

FOR SALE DETAILS

PRICE

$1,575,000 USD

PRICE/SF

$338 USD /SF

# OF UNITS

6

PRICE/UNIT

$262,500

CAP RATE

5.54%

% LEASED

84%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5% Interest Rate Seller Financing | Lake View

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

-

APN/PARCEL ID

021-0226-002-00

ASK ABOUT THIS PROPERTY

Timothy WarrenNAI Northern CaliforniaMore Info
707-363-2463

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Timothy WarrenNAI Northern CaliforniaMore Info
707-363-2463

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.