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

Neighborhood Description
This building is conveniently located just two blocks to Lake Merritt and Highway 580. It is also walking distance to the popular Lakeshore area which offers an array of popular restaurants, shops, coffee shops, and boutiques including the SF Fitness Center and the Grand Lake Theater. Grocery stores nearby include Sprouts, Lucky's, Whole Foods, Trader Joe's and the Koreana Plaza all just a mile or two away. The Lake Merritt Bart Station is a quick five-minute drive or ten to fifteen minute walk for those who commute. Downtown Oakland has a lot to offer from the Paramount and Fox Theaters, two of the most beautiful concert venues in the Bay Area, to all the new restaurants and bars. If you like to work out outdoors, the beautiful Lake Merritt is a 5k loop and the nearby Cleveland Cascade Stairs are located a few blocks away. Lakeshore also offers the local Farmer's Market on Saturday mornings.

NOTE: The City of Oakland’s Fair Chance Housing Ordinance requires that rental housing providers display this notice to applicants:  https://cao-94612.s3.amazonaws.com/documents/Fair-Chance-Ordinance.Tenant-Notice.10.5.2020.pdf