3229 Elm St
Oakland, CA 94609
0.10 acres | #41071857
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 Oakland’s Pill Hill neighborhood, it’s just steps from public transport, dining, shops, and the expanding medical district—with 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.
Property Details
- Lot DescriptionCornerLot, StreetLevel, Yard
- Property TypeMulti-Family
- Original List Price$1,499,900
- SubdivisionPILL HILL
- MLS #41071857
- MLS #41071857
- CountyAlameda
- Cost1499900
- Property SubtypeTriplex
- Acres0.1003
- Year Built1896
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Colin Davies (#CCBE-213503297)
Listing Office: Security Pacific Real Estate (#CCBE-CCWSPRE02)
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