1164 Ocean Avenue, Oakland, California 94608, Oakland, 94608 - 2 bed, 1 bath
Loading property details...
Oakland, California 94608
This Income-Generating Residential Asset is listed at $775,000, offering a rare multi-unit configuration near its $723,812 Fair Market Value. The property features a main cottage, a large ADU, and additional bonus rooms, providing significant Value-Add potential for those navigating the probate and short sale process. Despite a Condition Rating of 4, the versatile layout and proximity to top-rated schools like Peralta Elementary and Berkeley High create a strong foundation for long-term ROI. This complex acquisition is ideal for Buy-and-Hold Investors or Contractors seeking a high-yield project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1164 Ocean Avenue Subject | $775,000* List Price | 2 | 1 | 900 | $804 | - |
A 1042 61st St Pending | $849,000 List Price | 3 | 1 | 983 | $864 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1910 cottage and ADU show signs of age and heavy use, particularly in the secondary spaces previously used as a daycare. While the main kitchen has received a mid-range update (approximately 15-20 years ago) featuring oak cabinetry and a stainless steel dishwasher, the rest of the property is outdated. Interior features include aged wall heaters, worn carpeting (specifically the red carpet in the ADU), and basic fluorescent lighting. The property appears functional but requires significant cosmetic updates and likely system modernizations, consistent with a probate/short sale condition.
The property features a main cottage plus a large ADU and additional bonus rooms with a kitchenette, offering an excellent opportunity for house-hacking or multi-generational living.
With a central courtyard and a lower-level space previously used as a daycare, the property provides unique flexibility for a home business, creative studio, or expanded living quarters.
Situated in a vibrant area close to the bay and local cafes, the home also benefits from proximity to highly-rated schools like Peralta Elementary and Berkeley High.
The property is currently in probate and requires short sale approval, which often leads to a significantly longer and more uncertain closing timeline for buyers.
Built in 1910 and being sold as a short sale, the property likely requires substantial updates and repairs to modernize the aging structures and systems.
Cute 2/1 cottage home with large ADU structure with an additional 1/1 upstairs as well as bonus rooms downstairs with additional kitchenette and bathroom previously used as a small daycare. Property features a central courtyard with play structure. Live in one and rent out the other. Close proximity to churches, cafes and the bay. Property is currently in probate and requires short sale approval.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades PK-5 • 1.2 mi
Grades K-5 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 37% |
| Baths | 1.0 | 2.0 | 26% |
| Square foot | 900 | 1,398 | 8% |
| Lot Size | 3,720 | 3,967.5 | 37% |
| Price | $775.0K | $910.0K | 34% |
| Price per sq ft | $861 | $641 | 84% |
| Built year | 1910 | 1911 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 320 | 171 | 95% |
Jun 6, 2025
$775,000
Initial Listing