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498 Capital St
For Sale $1,450,000
$1,450,000
- Units
- Unknown Sq Ft
- 4,070 Sq Ft
- Unknown Cap Rate
Description
Situated in Oaklands Cleveland Height neighborhood and two blocks from Oaklands renowned Lake Merritt, 498 Capital Street is a well maintained fiveunit multifamily property. This pride of ownership property was built in 1960 with wood frame and stucco construction on a concrete foundation. The building has one massive vacant three-bedroom/two-bathroom penthouse with views and four one-bedroom/one-bathroom units. Each unit has an individual parking garage. The building is 4,490 square feet and is situated on a 4,070 square foot lot. Each unit is independently metered for gas and electricity. This property offers an investor significant rent and value upside upon unit turnover due to the below market in-place rents. Current ownership has invested over $300,000 in recent capital improvements including a soft story seismic retrofit, private sewer lateral upgrade, electrical panel upgrade, main building water heater, roof work, and more. Furthermore, ownership has approved architectural plans to convert the right most garage and common space behind the garage, into an 800 square foot two-bedroom/two-bathroom unit. The rent growth, shortage of housing units, & ADU potential make 498 Capital Street an exceptional investment for both the cash flow & appreciation minded investor.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,450,000 |
| Property Type | Other |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1960 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 2341712 |
| MLS # | ML82012249 |
| Property ID | 294979589 |
| Lot Sqft | 4,070 |
| Zoning | RM-3 |
| Days on Market | 179 |
| Original List Price | $1,450,000 |
| Date Updated | November 23, 2025 |
| Date Created | June 26, 2025 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Ismael Benhamida an agent of Compass. Lic #01722847
© 2025 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of November 23, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
REAL ESTATE AGENT