4-Units | Lake Merritt

Located in Oakland's highly desirable Cleveland Heights neighborhood, 459 Stow Avenue offers residents an exceptional blend of urban convenience, outdoor recreation, and neighborhood charm. Just a short walk from Lake Merritt, one of Oakland's most iconic landmarks, the area is known for its tree-lined streets, historic architecture, and vibrant community atmosphere. The neighborhood consistently ranks among Oakland's most sought-after rental markets due to its walkability, lifestyle amenities, and central location. Residents enjoy easy access to the popular Lakeshore Avenue and Grand Avenue shopping districts, home to Trader Joe's, Safeway, the renowned Grand Lake Farmers Market, boutique retailers, coffee shops, fitness studios, and an outstanding collection of local restaurants and cafés. Whether enjoying a morning walk around the lake, dining at one of the neighborhood's acclaimed eateries, or shopping at nearby specialty stores, residents have virtually every daily convenience within minutes of their front door. The property also benefits from excellent transportation access. Lake Merritt BART, Interstate 580, and Interstate 880 are all nearby, providing convenient commuting options throughout Oakland, San Francisco, and the greater Bay Area. Combined with its proximity to Downtown Oakland, Jack London Square, and the city's major employment centers, Cleveland Heights continues to experience strong and consistent rental demand. With its premier location, exceptional walkability, abundant neighborhood amenities, and enduring tenant appeal, the Lake Merritt/Cleveland Heights neighborhood remains one of Oakland's strongest multifamily investment markets, offering investors stable occupancy, long-term appreciation potential, and resilient rental demand. Scores Walk Score - 92 Transit Score - 62 Bike Score - 77Introducing 459 Stow Avenue, a rare opportunity to acquire a well-maintained four-unit apartment building in one of Oakland's most desirable neighborhoods. Built in 1990—a rarity in Oakland's multifamily market—the property features an attractive unit mix of (2) two-bedroom/one-bath units and (2) one-bedroom/one-bath units, making it ideal for a broad tenant base. Several units enjoy Lake Merritt views from their bedrooms and private balconies, while residents benefit from four covered parking spaces and on-site coin-operated laundry. The property has been meticulously maintained, with over $110,000 invested in capital improvements, significantly reducing deferred maintenance for future ownership. Recent upgrades include a fully renovated Unit 2 featuring a new kitchen, bathroom, flooring, cabinetry, countertops, and appliances, along with a remodeled Unit 4 bathroom. Additional improvements include new roofs and skylights, new water heaters, dual-pane windows, new fencing, renovated balconies, garage enhancements, and water-efficient fixture upgrades throughout the property, offering investors a truly turnkey asset. Ideally located just blocks from Lake Merritt, Lakeshore Avenue, and Grand Avenue, tenants enjoy easy access to Trader Joe's, the Grand Lake Farmers Market, restaurants, cafés, grocery stores, and everyday conveniences. With an outstanding walkable location, strong tenant appeal, newer construction than most Oakland apartment buildings, and pride of ownership throughout, 459 Stow Avenue presents a compelling opportunity to acquire a low-maintenance investment in one of the East Bay's most sought-after rental markets.