NOT LISTED FOR SALE
30 Beds
-- Bath
27,127 Sq Ft
11,400 Sq Ft Lot

Last Sold August 20, 2021

Last sale price $7,450,000 $275 Per Sq Ft

23 Days on Market

Highlights

  • Penthouse
  • Engineered Wood Flooring
  • Formal Entry
  • 0.26 Acre Lot
  • Balcony
  • 4-minute walk to Pine Knoll Park

About This Home

As of August 2021

346 Hanover Avenue is a 22 unit building located in the Cleveland Heights neighborhood of Oakland just 2 blocks to Lake Merritt. Constructed in 1965 the building is concrete podium and wood frame with a gated, secure parking garage with 22 parking spaces. The unit mix consists of 15 1b/1ba, 6 2b/2ba and 1 3b/2ba penthouse unit. The property underwent significant capital improvements in 2017 including a full lobby renovation, new carpet throughout the hallways, updated front faade and exterior paint. A new roof was installed in 2019 The current ownership has turned 12 of the 22 units since it was purchased in 2007. There are 7 units that have turned since 2015 which were substantially updated with new floors, fully updated bathrooms and kitchens including new cabinets and countertops. Two units, 202 & 306 have in unit laundry. An on site laundry room services the remaining units.

Last Agent to Sell the Property

Christopher Smith

City Real Estate License #01740857 Listed on: 02/17/2021

Last Buyer's Agent

Steve Zirelli

Cornish & Carey Commercial License #01929245

Property Details

Home Type

  • Condominium

Year Built

  • Built in 1965 | Remodeled

Lot Details

  • 0.26

Home Design

  • Penthouse
  • Concrete Foundation
  • Composition Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 27,127 Sq Ft Home
  • 4-Story Property
  • Formal Entry
  • Security Lights
  • Washer and Dryer

Flooring

  • Engineered Wood
  • Carpet

Parking

  • 22 Car Garage
  • Off-Street Parking

Outdoor Features

  • Balcony

Utilities

  • Heating Available
  • Separate Meters

Listing and Financial Details

  • Assessor Parcel Number 021-0227-008

Community Details

Building Details

  • 20 Leased Units
  • 2 Vacant Units
  • 17 Units Leased Month-To-Month

Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Additional Features

  • 22 Units
  • Coin Laundry

Property Details

Home Type

Condominium

Year Built

Built in 1965 | Remodeled

Lot Details

0.26 Acres

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Subtype Description: Apartments, Penthouse, Sec Building
  • Property Condition: Updated/Remodeled, Varies By Unit
  • Levels: Four
  • Year Built: 1965
  • Special Features: None
  • Stories: 0

Interior Features

  • Flooring: Carpet, Simulated Wood, Wood
  • Interior Amenities: Formal Entry
  • Laundry Features: Coin Operated, In Common Area, Varies By Unit, Washer/Dryer Owned
  • Price Per Square Foot: 274.63
  • Square Footage: 27127.00

Exterior Features

  • Construction Materials: Concrete, Stucco, Wood
  • Foundation: Concrete
  • Patio And Porch Features: Balcony/Deck
  • Roof: Composition

Garage/Parking

  • Parking Features: Garage, Off Street
  • Total Parking Spaces: 22.00

Utilities

  • Cooling: None
  • Heating: Electric
  • Security Features: Carbon Mon Detector, Fire Alarm, Fire Extinguisher, Secured Access, Security Lights, Smoke Detector
  • Sewer: Public Sewer
  • Water Source: Public

Lot Info

  • Assessor Parcel Number: 021-0227-008
  • Lot Features: Shape Regular
  • Lot Size Acres: 0.2617
  • Lot Size Sq Ft: 11400.00
  • Lot Size Units: SqFt
  • Price Per Acre: 28467711.12

Rental Info

  • Number Of Units Month To Month: 17
  • Units Furnished: None

Building Info

  • Number of Units Total: 22

Multi Family

  • Number Of Units Vacant: 2
  • Gross Rent Multiplier: 13.88
  • Number Of1 Bedrooms Occupied: 13
  • Number Of2 Bedrooms Occupied: 6
  • Number Of3 Bedrooms Occupied: 1
  • Number of 3 Bedroom Units: 1
  • Number Of Units Leased: 20
  • Separate Meters: Common Area Meter, Electricity
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/20/2021 08/20/21 Sold $7,450,000 -2.6% $275 / Sq Ft
03/12/2021 03/12/21 Pending -- -- --
02/17/2021 02/17/21 For Sale $7,650,000 -- $282 / Sq Ft
Source: San Francisco Association of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $114,631 $7,852,378 $2,122,400 $5,719,868
2024 $114,631 $7,698,666 $2,080,800 $5,607,756
2023 $120,526 $7,537,800 $2,040,000 $5,497,800
2022 $116,555 $7,400,110 $2,000,000 $5,390,000
2021 $63,424 $3,820,297 $1,143,051 $2,677,246
2020 $62,654 $3,781,235 $1,131,332 $2,649,903
2019 $59,023 $3,706,399 $1,109,157 $2,597,242
2018 $57,734 $3,633,928 $1,087,416 $2,546,512
2017 $54,871 $3,562,870 $1,066,099 $2,496,771
2016 $53,745 $3,493,193 $1,045,196 $2,447,997
2015 $53,446 $3,440,881 $1,029,502 $2,411,379
2014 $54,833 $3,368,152 $1,009,343 $2,358,809
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Francisco Association of REALTORS®

MLS Number: 421520571

San Francisco Association of REALTORS®
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