UNDER CONTRACT 262 Hanover Ave 6 Unit Apartment Building $2,180,588 CAD ($363,431 CAD/Unit) 5.54% Cap Rate Oakland, CA 94606

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.