SOLD 11/22/2023
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Off the market 6 beds 3,126 sqft
For investors seeking instant cash flow and a place to call home, Oakland’s 516 Wesley Avenue is a fourplex that ticks every box for investors as well as occupants. A corner lot consisting of two, 2BR/2BA and two, 1BR/1BA, this property is located in the immensely popular Cleveland Heights neighborhood—just two blocks from the shores of Lake Merritt. Three of each come with their own dedicated parking (a rarity for the area), and one of the two-bedroom units will be delivered vacant (the other three will remain occupied, generating an instant $4,850 per month). It should be noted that this unit, which shall be delivered vacant, was recently remodeled and includes an ensuite bathroom. Physical features aside, what really makes this property special is its proximity to everything a resident could want. Trader Joes, Whole Foods, BART, bars, restaurants, entertainment, freeways—they’re all 5 to 8 minutes away. This type of unbeatable lifestyle access ensures any future vacancies will be short-lived.
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Property details
3,126 sqft interior area
Property type
Home
Interior area
3,126 sqft
View
Lake
Land area
2,613 sqft (0.06 acres)
Price per sqft
$355/sqft
Address
516 Wesley Ave, Oakland, CA, 94606
City of California
Oakland
County
Alameda
Previous price
$1,150,000
Sold price
$1,110,000
Year Built
1960
Neighborhood
Lake Merritt
District
Listing
Open Houses
No upcoming open houses
Interior Features
Laminate, Tile, Vinyl, Carpet floors
Beds
6
Floors
Laminate, Tile, Vinyl, Carpet
Security
Carbon Monoxide Detector(s), Security Gate, Smoke Detector(s)
Garage & Parking
Carport - 2 Or More, Covered, Off Street, Parking Lot, On Street, Street Parking
Heathing & Cooling
No Air Conditioning, Natural Gas, Wall Furnace, Central
Appliances
Gas Water Heater
Basement
None
Listed by
Joey Wang, Keller Williams Realty
Name
Joey Wang
License number
01890931
Brokerage company
Keller Williams Realty
MLS #
41040596
Buyer agent
Name
Joey Wang
Brokerage company
Keller Williams Realty
Payment calculator
Calculate your monthly payments
Mortgage
$3,408
Taxes
$0
HOA dues
$0
Mortgage
$222,000 / 20%
2.28%
30 years
Your amount
$3,408 / month
Exterior Features
Frame, Wood Siding construction and more
Utilities
Individual Electric Meter, Individual Gas Meter
Construction
Frame, Wood Siding
Yard
Entry Gate
Lot details
TMK #23410331
Lot Description
Corner Lot, Level, Paved
Parcel nr.
23410331
Lake Merritt neighborhood info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
—
no data
Bus stop
—
no data
Supermarket
—
no data
Costco
—
no data
Hospital
—
no data
Park
—
no data
Beach
—
no data
Elementary school
—
no data
Middle school
—
no data
High school
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no data
Local airport
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no data
People living in Lake Merritt
42%
Families with children
National average: 39%
50%
Non family households
389,515
Population
$115,441
Average Income
Age & gender
Median age 38 years
More info
Commute types
55% commute by car
More info
Education level
30% have bachelor education
More info
Number of employees
2% work in management
More info
Vehicles available
45% have 1 vehicle
More info
Vehicles by gender
45% have 1 vehicle
More info
Housing market insights for
$1.18m
Neighborhood average
sales price*
sales price*
$931.67k
Neighborhood median
sales price*
sales price*
730
Number
of sales*
of sales*
Housing type
34% are single detacheds
More info
Rooms
34% of the houses have 4 or 5 rooms
More info
Bedrooms
51% have 2 or 3 bedrooms
More info
Owners vs Renters
62% are renters
More info
13.17 / 20
Above Average
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
Sold Nov 22, 2023
Lake Merritt Median sales price 2024
| Bedrooms | Med. price | % of listings |
|---|---|---|
| 1 bed | $585k | 25% |
| 2 beds | $707.5k | 50% |
| 3 beds | $995k | 25% |
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Nov 22, 2023 | Sold | $1,110,000 | 355.09 | Public Record |
| Nov 22, 2023 | Price Decrease | $1,110,000 -3.48% | 355.09 | MLS #41040596 |
| Nov 1, 2023 | Under contract | $1,150,000 | 367.88 | MLS #41040596 |
| Sep 29, 2023 | New Listing | $1,150,000 | 367.88 | MLS #41040596 |
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Frequently Asked Questions about 516 Wesley Ave
What is 516 Wesley Ave?
516 Wesley Ave, Oakland, CA, 94606 is a single family home located in the Lake Merritt neighborhood in the city of Oakland, California with zipcode 94606. This single family home has 6 bedrooms with an interior area of 3,126 sqft.
Which year was this home built?
This home was build in 1960.
Which year was this property last sold?
This property was sold in 2023.
What is the full address of this Home?
516 Wesley Ave, Oakland, CA, 94606.
Are grocery stores nearby?
The closest grocery stores are Trader Joe's, 0.41 miles away and Lucky, 0.47 miles away.
What is the neighborhood like?
The Lake Merritt neighborhood has a population of 389,515, and 42% of the families have children. The median age is 38.81 years and 55% commute by car. The most popular housing type is "single detached" and 62% is renter.
Based on information from the bridgeMLS as of 05-07-2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing last updated on: Nov 23, 2023
Verhouse Last checked 1 minute ago
The closest grocery stores are Trader Joe's, 0.41 miles away and Lucky, 0.47 miles away.
The Lake Merritt neighborhood has a population of 389,515, and 42% of the families have children. The median age is 38.81 years and 55% commute by car. The most popular housing type is "single detached" and 62% is renter.
*Neighborhood & street median sales price are calculated over sold properties over the last 6 months.
