Experience the best of Oakland living with this stately and versatile multi-family residence (with vacant 3BD 1.5BA Owner's Unit) nestled in the heart of the vibrant Cleveland Heights neighborhood. This impressive property blends early 20th-century architectural character with the spaciousness and flexibility required for today’s urban lifestyle. Featuring 3 spacious multi-bedroom units and a bonus studio cottage, off street parking, basement laundry and storage and ~ 4,190 sqft of living space on a 7,250 sqft lot, the property is yielding a solid gross income of $132,356/yr with a currently projected cap rate of 6.4% for the savvy investor seeking a high-demand location. It is an ideal owner-occupant home with great rental income, and could serve in the future as a great multi-generational living setup with a large level yard and decks. Unit 341 (vacant owner's unit) has 3 bedrooms 1.5 baths with its own deck, parking and direct access to the shared yard. Situated just a block from the iconic Lake Merritt and Lakeside parks, 339 Hanover puts you at the center of it all with multi-cultural dining options, Trader Joe's and all the amenities of Grand and Lakeshore Avenues, downtown Oakland and nearby Jack London Square. Commuting is a breeze with close proximity to AC Transit, Lake Merritt BART, and major freeways to San Francisco and greater East Bay.