Renovated Quadplex with Coin
459 WAYNE AVE Oakland, CA 94606
459 WAYNE AVE, Oakland, CA, 94606
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For Sale
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Renovated quadplex with updated interiors, coin-operated laundry, shared back common space, and off-street parking.
Property Size2,547 SF
Price / SF$588.93
Days on Market56
Property Features for 459 WAYNE AVE
General Information
- Standard status
- Active
- Size
- 2,547 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agency
Kite Hill Real Estate
(415) 795-2797
Listed by
Jatin Mehta · License #02045713
Source
Crexi
Added: May 29 Updated: Jul 22 at 10:49AM Checked: Jul 22 at 10:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kite Hill Real Estate
Investment Insights
Based on property information with market context.
459 Wayne Ave is a quadplex featuring three 1-bedroom units and one 2-bedroom, 1-bath unit. The interiors have been modernized, including updated wiring, and the exterior has received improvements such as new paint and fascia/soffit work. Residents also benefit from coin-operated laundry and a shared common space in the back.
The property includes four off-street parking spaces and one garage. Current information indicates the sale can include furniture to support the existing medium-term furnished rental strategy.
In addition to the in-place income, the property is entitled for development of 20 new apartment units, presenting an expansion or redevelopment pathway. A potential garage conversion ADU is also referenced, with the buyer to verify.
The property includes four off-street parking spaces and one garage. Current information indicates the sale can include furniture to support the existing medium-term furnished rental strategy.
In addition to the in-place income, the property is entitled for development of 20 new apartment units, presenting an expansion or redevelopment pathway. A potential garage conversion ADU is also referenced, with the buyer to verify.
Key Highlights
- Renovated quadplex (3 one‑bedroom units and 1 two‑bedroom, 1‑bath)
- GRM of 11.64 and cap rate of 5.53%
- Modernized interiors with fully remodeled units and updated wiring
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.5k | $32.40 |
| − Vacancy | −$4.3k | −$1.69 |
| EGI | $78.2k | $30.71 |
| − OpEx | −$23.5k | −$9.21 |
| NOI | $54.8k | $21.50 |
2,547 SF · lease $32.40/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$782.2K
$684.4K – $912.5K
NOI $54,751 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$714.9K
$625.5K – $834.0K
NOI $50,040 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,217 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Renovated quadplex with updated interiors, coin-operated laundry, shared back common space, and off-street parking.
Where is this quadplex located?
The property is located at 459 WAYNE AVE Oakland, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Renovated quadplex (3 one‑bedroom units and 1 two‑bedroom, 1‑bath); GRM of 11.64 and cap rate of 5.53%; Modernized interiors with fully remodeled units and updated wiring
