1273 98th Ave, Oakland, California 94603, Oakland, 94603 - 5 bed, 2 bath
ACTIVE$549,000
1273 98th Ave, Oakland, California 94603
5Beds
2Baths
1,529Sqft
3,074Lot
Price Vs. Estimate
The estimated value ($549,000) is $0 (0%) lower than the list price ($549,000). This property may be overpriced.
Key pros and cons
Top Pros:
Dual Income Potential: The property features two independent homes on one lot with separate utility meters, offering excellent potential for rental income or multi-generational living.
Top Cons:
Age of Property: Built in 1915, the property, despite recent cosmetic updates, may still have underlying older infrastructure (e.g., plumbing, electrical systems) that could require future attention.
Compared to the nearby listings
Price:$549.0K vs avg $525.0K (+$24,000)53%
Size:1,529 sqft vs avg 1,046 sqft86%
Price/sqft:$359 vs avg $48719%
More Insights
Built in 1915 (110 years old).
Condition: Built in 1915, this property features two homes with varying levels of renovation. While the front house boasts a recently updated kitchen with modern white shaker cabinets, subway tile backsplash, stainless steel appliances, and new LVP flooring, along with a modern bathroom, the rear house presents a dated kitchen with older, mismatched cabinets, older tile flooring, and basic appliances. Its bathroom also appears dated with older fixtures and tile, and the living areas have older carpet. The exterior of both homes shows signs of age and wear. Despite 'newly roofing' and fresh paint in some areas, the significant discrepancy in renovation quality between the two units and the overall age of the structures mean the property, as a whole, requires minor updates and repairs, particularly in the rear unit, to meet modern standards.
Year Built
1915
Close
-
List price
$549K
Original List price
$549K
Price/Sqft
$359
HOA
-
Days on market
-
Sold On
-
MLS number
41113907
Home ConditionFair
Features
View-
About this home
Excellent Investment Opportunity! This property features two homes on one lot, each with newly roofing, an updated kitchen and bathroom, new flooring, and fresh interior painting. Separate Water and PG&E meters make it perfect for rental income or multi-generational living. The front house (#1273 98th Ave) offers 2 bedrooms and 1 bath across 761 sq ft, with an estimated rent of $2,400/month. The rear house (#9725 A St) provides 3 bedrooms and 1 bath over 820 sq ft, currently tenant-occupied at $2,000/month. Enjoy two parking spaces, extra storage, and a relaxing front yard—all adding to the property's convenience and appeal. With 7% cash return potential, this is a rare chance to secure a high-performing investment or a first home with passive income.
Condition Rating
Fair
Built in 1915, this property features two homes with varying levels of renovation. While the front house boasts a recently updated kitchen with modern white shaker cabinets, subway tile backsplash, stainless steel appliances, and new LVP flooring, along with a modern bathroom, the rear house presents a dated kitchen with older, mismatched cabinets, older tile flooring, and basic appliances. Its bathroom also appears dated with older fixtures and tile, and the living areas have older carpet. The exterior of both homes shows signs of age and wear. Despite 'newly roofing' and fresh paint in some areas, the significant discrepancy in renovation quality between the two units and the overall age of the structures mean the property, as a whole, requires minor updates and repairs, particularly in the rear unit, to meet modern standards.
Pros & Cons
Pros
Dual Income Potential: The property features two independent homes on one lot with separate utility meters, offering excellent potential for rental income or multi-generational living.
Recent Renovations: Both units have undergone significant updates including new roofing, updated kitchens and bathrooms, new flooring, and fresh interior paint, reducing immediate maintenance needs.
Strong Investment Return: With an existing tenant generating $2,000/month and an estimated $2,400/month for the front unit, the property boasts a stated 7% cash return potential, making it a high-performing investment.
Value Proposition: Listed at $549,000, the property is priced below its estimated value of $561,851.425, suggesting potential for immediate equity gain for the buyer.
Practical Amenities: The property includes two dedicated parking spaces, extra storage, and a relaxing front yard, enhancing convenience and appeal for residents.
Cons
Age of Property: Built in 1915, the property, despite recent cosmetic updates, may still have underlying older infrastructure (e.g., plumbing, electrical systems) that could require future attention.
Compact Living Spaces: The individual units are relatively small (761 sq ft for 2 beds, 820 sq ft for 3 beds), which might limit appeal to larger families or those desiring more spacious accommodations.
Lack of Central Air Conditioning: As is common with older homes, the description does not mention a central cooling system, which could be a drawback during warmer months in Oakland.