$1,450,000

498 Capital Street, Oakland CA, 94610

Price per sqft$322.94

Built in1960

Property size4,490 sqft

Property typeCommercial

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Overview

Active

Listed Jun 26, 2025

Updated Apr 10

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.

Additional information

MLS^® ID: ML82012249

Interior Features

Bathrooms: 0

Exterior Features

Lot Size: 0.09 Acres

Other Property Details

Taxes: $22,956
Tax Frequency: Annually
Maintenance Expense: $2,662

Broker Reciprocity Courtesy of Compass, Ismael Benhamida

Riff Rifferson - Full Name

- Phone Number

[email protected] - Email

- Brokerage Name

78108 - MLS License Number

Data last updated 5:42 AM UTC, 4/10/2026

Based on information from California Regional Multiple Listing Service, Inc. as of 4/10/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.