Hanover Apartments
350 Hanover Ave.
Oakland, CA 94606

Property Description: 

350 Hanover is a 19-unit complex offering one-, two-, and three-bedroom apartments. This building has recently been remodeled and is immaculately maintained. Hanover features a secure building, elevator and well maintained common area. The on-site laundry facility ensures you don’t spend nights at a laundromat and off-street parking(monthly fee) means you’ll never have to circle the block hoping for a spot.

Hanovers Apartments has a mix of cozy carpet, wood flooring and chic slate tile. Most units have been remodeled with granite countertops, hardwood floors and double-pane windows. The expansive living area is enhanced by the large windows and sunny California light that they let in. You’ll find that the bedrooms are spacious, along with more than adequate closets. Finally, the building has a very conscientious resident manager that is there to keep the common areas tidy and provide day-to-day servicing to the property.

Property Highlights

Well-maintained pride of ownership asset with modern updates, granite countertops an  hardwood
floors

Total annual rent upside of $184,000: $120,000 upside due to market rent increases; $64,000 upside
due to unit conversions that expand bedroom counts from 1 to 2 bedrooms and  2 to 3 bedroom (see
rent roll notes on slide 20)

Nineteen (19) unit apartment community, six (6) units delivered vacant for buyer Fexibility

Desirable and  convenient location, two blocks from Lake Merritt, near downtown business, all forms
of public transportation ( just 1.1 miles from BART) and  shopping/entertainment

Building is Soft Story exempt and  decks/stairs have been updated
in compliance with Section 1 regulations