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1033 Magnolia St, Oakland, California 94607, Oakland, 94607 - bed, bath

1033 Magnolia St, Oakland, California 94607 home-pic-0
ACTIVE$995,000
1033 Magnolia St, Oakland, California 94607
0Bed
0Bath
Sqft
4,660Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Income Potential: The property features two homes on one lot, with the main Victorian offering four distinct units and a detached cottage, providing significant multi-unit rental income opportunities.
Top Cons:
Unfinished Cottage Renovation: The detached cottage is 'currently under renovation,' indicating an unfinished project that will require additional capital and time before it can generate income or be fully utilized.

Compared to the nearby listings

Price:$995.0K vs avg $675.0K (+$320,000)90%
Size: sqft vs avg 1,494 sqft3%
Price/sqft:$0 vs avg $3873%

More Insights

Built in 1890 (135 years old).
Condition: While the top-floor owner's unit has been recently renovated with modern appliances, stylish countertops, new light fixtures, plush carpeting, and an updated bathroom (qualifying it as excellent), the property as a whole is a 1890 Victorian with multiple units. Images reveal that at least one other unit features an outdated kitchen with older cabinets, appliances, and flooring, suggesting it was last renovated 20-30+ years ago or has original components. The detached cottage is also 'currently under renovation,' indicating an unfinished state. Given the mixed condition across the multiple units and the significant age of the overall structure (1890) with potential for deferred maintenance in non-renovated areas, the property's overall condition is best described as fair, requiring updates and repairs in several areas despite the one recently renovated unit.
Year Built
1890
Close
-
List price
$995K
Original List price
$995K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41115134
Home ConditionFair
Features
View-

About this home

Welcome to 1033 Magnolia Street, a remarkable West Oakland property featuring two homes on one expansive lot. The front residence, a grand Victorian built in 1890, beautifully showcases the craftsmanship and architectural detail of its era while offering the flexibility of four individual units. The main home includes two 1-bedroom units on the ground floor, one 1-bedroom flat on the middle level, and a 2-bedroom owner’s unit occupying the top floor. The owner’s unit has been recently renovated with designer light fixtures, new appliances, stylish countertops, plush carpeting, and a fully updated bathroom. Thoughtfully staged, this elegant space highlights the perfect balance of historic charm and modern comfort — ideal for an owner-occupant or as a showpiece rental. At the rear of the property sits a detached cottage, currently under renovation, offering potential as an additional income unit, private guest house, or creative studio space once complete. Located in the heart of West Oakland, this property combines vintage character with exceptional investment potential. Its close proximity to downtown Oakland, public transit, and the vibrant dining and arts scenes of Uptown and Jack London Square make it a truly special opportunity for both investors and owner-occupants alike.

Condition Rating
Fair
While the top-floor owner's unit has been recently renovated with modern appliances, stylish countertops, new light fixtures, plush carpeting, and an updated bathroom (qualifying it as excellent), the property as a whole is a 1890 Victorian with multiple units. Images reveal that at least one other unit features an outdated kitchen with older cabinets, appliances, and flooring, suggesting it was last renovated 20-30+ years ago or has original components. The detached cottage is also 'currently under renovation,' indicating an unfinished state. Given the mixed condition across the multiple units and the significant age of the overall structure (1890) with potential for deferred maintenance in non-renovated areas, the property's overall condition is best described as fair, requiring updates and repairs in several areas despite the one recently renovated unit.
Pros & Cons

Pros

Exceptional Income Potential: The property features two homes on one lot, with the main Victorian offering four distinct units and a detached cottage, providing significant multi-unit rental income opportunities.
Historic Architectural Significance: A grand 1890 Victorian, the front residence showcases original craftsmanship and architectural detail, appealing to buyers seeking unique historical properties.
Strategic West Oakland Location: Its close proximity to downtown Oakland, public transit, and vibrant dining/arts scenes of Uptown and Jack London Square enhances desirability and rental demand.
Recently Renovated Owner's Unit: The top-floor owner’s unit has been recently renovated with designer fixtures, new appliances, and an updated bathroom, offering modern comfort for immediate occupancy or premium rental.
Versatile Investment Opportunity: The property is ideal for both owner-occupants looking to offset mortgage costs with rental income and pure investors seeking a robust multi-unit asset.

Cons

Unfinished Cottage Renovation: The detached cottage is 'currently under renovation,' indicating an unfinished project that will require additional capital and time before it can generate income or be fully utilized.
Potential for Deferred Maintenance: As a 134-year-old Victorian, the non-renovated units and overall building infrastructure may require significant updates (e.g., plumbing, electrical, foundation) beyond the owner's unit, leading to unforeseen costs.
Complexity of Multi-Unit Management: Operating a property with potentially five separate units can be demanding in terms of tenant management, maintenance coordination, and legal compliance, which may require professional oversight.

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