Property Overview:
322 Hanover Ave is a condominium complex in the Lake Merritt/Cleveland Heights neighborhood of Oakland, CA. Most units are 2-bedroom, 2-bath condos ranging from 1,022 sq. ft. (built in 1984). The building features secure gated parking, elevator access, and central courtyard. Many units offer lake and city views, in-unit laundry, and private balconies. Recent sale prices are around $650,000; typical rents range from $2,800–$3,200/month.
Neighborhood Highlights:
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Prime Location:
- 1 block from Lake Merritt; walk to Trader Joe’s, Grand Lake Farmers Market, Grand Lake Theater, shops, and restaurants.
- Walk Score: 85–95 (very walkable).
- Easy access to BART, freeways (580, 980, 24), and bus lines.
- Minutes to downtown Oakland and under 20 minutes to San Francisco.
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Community:
- Safe, well-maintained, and pet-friendly (in select units).
- Active, urban lifestyle with access to parks, tennis courts, and the lake path.
Property Features:
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Layout & Living Spaces:
- 2 bedrooms, 2 full bathrooms (often en-suite, on opposite sides for privacy).
- Open-concept living/dining area with wood-burning fireplace.
- Corner units with abundant natural light and panoramic lake/city views.
- Private wrap-around or dual balconies for outdoor relaxation.
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Kitchen:
- Upgraded finishes: granite or quartz countertops, stainless steel appliances, tile or luxury vinyl flooring, and ample cabinet space.
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Bedrooms:
- Spacious primary suites with walk-in or large closets and balcony access.
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Laundry:
- In-unit washer & dryer (stackable or side-by-side).
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Parking & Security:
- 1 assigned, secure garage parking space per unit.
- Secured entry and package area.
- Bike parking available.
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Building Amenities:
- Elevator, central courtyard, and well-managed HOA.
HOA & Utilities:
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HOA Fees:
- Range from $640–$670/month (covers water, garbage, parking, building insurance, and maintenance).
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Utilities:
- Water and garbage included; tenants/owners pay electric and internet.
Rental & Purchase Terms:
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Rental Requirements:
- Monthly income: 2.5–3x rent.
- Credit score: 700+ preferred.
- No evictions; background and income verification required.
- Security deposit: 1 month’s rent.
- Pet policy: Some units allow small pets (<25 lbs); others are no-pet.
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Purchase Incentives:
- No HOA dues for 6–12 months or seller-paid HOA in select listings.
Lifestyle & Location Benefits:
- Urban convenience: Steps to Lake Merritt, farmers market, cafés, and entertainment.
- Commuter-friendly: BART, carpool, and freeway access.
- Outdoor living: Balconies, lake views, and proximity to parks.
- Secure, low-maintenance living in a vibrant Oakland neighborhood.