3229 Elm St, Oakland, CA 94609

Property Description

Historic Pill Hill fourplex offering strong in-place income, extensive capital improvements, and exceptional long-term investment potential. This well-maintained property features four updated units totaling approximately 3,300 square feet, plus additional attic storage, and generates multiple income streams through rental income, parking, and on-site laundry. Unlike many multifamily properties, several units enjoy their own private outdoor spaces, including private porches, a backyard and storage shed, and a spacious veranda, creating a more residential living experience for tenants. The property also includes nine off-street parking spaces, a rare amenity in this highly desirable neighborhood. Ownership has completed substantial system upgrades over the years, including remodeled kitchens and bathrooms, updated electrical panels, separate gas and water meters, replacement windows, soundproofing between units, foundation improvements, new gutters, termite treatment, and upgraded water heating systems, including tankless water heaters. All units include dishwashers, and the property has been consistently maintained, reducing deferred maintenance concerns. Located in Oakland's sought-after Pill Hill neighborhood, the property is just minutes from Kaiser Permanente, Alta Bates Summit Medical Center, MacArthur BART, Downtown Oakland, Uptown, major freeways, and numerous shopping and dining destinations. The location supports strong rental demand from healthcare professionals, commuters, and long-term residents alike. An excellent opportunity for investors seeking stable cash flow and long-term appreciation, or for an owner-occupant looking to offset housing costs with rental income. Property is currently in the process of obtaining official fourplex approval. Buyer to investigate and satisfy themselves regarding permit status.