128 Catron Dr, Oakland, California 94603, Oakland, 94603 - bed, bath
ACTIVE$849,999/sqft
128 Catron Dr, Oakland, California 94603
0Bed
0Bath
Sqft
5,879Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Financial Performance: The property boasts strong investment metrics with a Gross Rent Multiplier (GRM) of 8.98 and a cap rate of 7.24%, indicating a robust return on investment and efficient income generation.
Top Cons:
Recent Price Appreciation/Relisting: The property was sold for $775,000 in March 2024 and is now listed at $849,999. This rapid price increase in a short period may require strong justification to potential buyers and could be perceived as aggressive pricing.
Compared to the nearby listings
Price:$850.0K vs avg $680.0K (+$169,999)75%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1965 (61 years old).
Condition: The property, built in 1965, has received recent cosmetic updates such as new laminate flooring and fresh paint, making it move-in ready. However, the kitchen features dated white cabinets, laminate countertops, and older white appliances (electric range, refrigerator), lacking modern amenities like a dishwasher. The bathroom also presents a dated style with a pedestal sink and sliding glass shower doors. Heating is provided by older wall-mounted units, not a central system. While functional and clean, these major components show clear signs of being outdated, aligning with a 'Fair' condition where updates would significantly enhance appeal and functionality.
Year Built
1965
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41121191
Home ConditionFair
Features
Patio
View-
About this home
Welcome to this exceptional 4-plex located just minutes away from the bustling Oakland Airport! This well-maintained property is a remarkable investment opportunity, offering low expenses and significant recent capital improvements. Each unit provides comfortable living spaces with modern amenities, ensuring tenant satisfaction and long-term occupancy. The property features a versatile unit mix, catering to a variety of tenant needs with two units delivered vacant. Inside, each unit is designed for functionality and comfort, with spacious layouts that include bright living areas, fully equipped kitchens, and generous bedroom sizes. Financially, this property stands out with an estimated total rental income of $8,350 per month. It boasts a Gross Rent Multiplier (GRM) of 8.98 and a cap rate of 7.24%, making it an attractive option for both investors looking to invest in Oakland's robust housing market or owner-occupants looking to house-hack and reduce housing costs. With its low maintenance costs due to recent upgrades and market rents, this property promises a steady and profitable rental income.
K
Kevin Jacky Hom
Listing Agent
Nearby schools
3/10
Madison Park Academy Tk-5
Public,•K-5•0.2mi
3/10
Brookfield Elementary School
Public,•K-5•0.9mi
6/10
Wilson Elementary School
Public,•K-5•0.9mi
5/10
John Muir Middle School
Public,•6-8•0.9mi
3/10
Madison Park Academy 6-12
Public,•6-12•0.2mi
5/10
San Leandro High School
Public,•9-12•2.0mi
1/10
Castlemont High
Public,•9-12•2.5mi
2/10
Fremont High
Public,•9-12•3.8mi
2/10
Oakland International High School
Public,•9-12•8.7mi
Price History
Date
Event
Price
03/22/24
Sold
$775,000
09/09/16
Sold
$500,000
07/29/15
Sold
$602,000
05/18/10
Sold
$155,000
01/03/07
Sold
$550,000
Condition Rating
Fair
The property, built in 1965, has received recent cosmetic updates such as new laminate flooring and fresh paint, making it move-in ready. However, the kitchen features dated white cabinets, laminate countertops, and older white appliances (electric range, refrigerator), lacking modern amenities like a dishwasher. The bathroom also presents a dated style with a pedestal sink and sliding glass shower doors. Heating is provided by older wall-mounted units, not a central system. While functional and clean, these major components show clear signs of being outdated, aligning with a 'Fair' condition where updates would significantly enhance appeal and functionality.
Pros & Cons
Pros
Exceptional Financial Performance: The property boasts strong investment metrics with a Gross Rent Multiplier (GRM) of 8.98 and a cap rate of 7.24%, indicating a robust return on investment and efficient income generation.
Strategic Location: Located just minutes from the bustling Oakland Airport, this property benefits from high rental demand, attracting a steady tenant pool from airport employees and related industries.
Recent Capital Improvements & Low Maintenance: Significant recent capital improvements have been made, leading to low maintenance costs and reducing the immediate financial burden for a new owner.
Immediate Income & Flexibility: As a 4-plex with two units delivered vacant, it offers immediate income potential and flexibility for an owner-occupant to 'house-hack' or for an investor to set market-rate rents.
Broad Market Appeal: The property is explicitly attractive to both seasoned investors seeking profitable returns and owner-occupants looking to reduce housing costs, broadening its potential buyer base.
Cons
Recent Price Appreciation/Relisting: The property was sold for $775,000 in March 2024 and is now listed at $849,999. This rapid price increase in a short period may require strong justification to potential buyers and could be perceived as aggressive pricing.
Property Age: Built in 1965, the property is nearly 60 years old. While recent improvements are noted, older structures can inherently carry higher risks for unexpected maintenance or require more extensive system upgrades in the long term.
Varied Local School Ratings: The presence of schools with varied ratings, including some lower-rated institutions (e.g., 1s, 2s, 3s), in the immediate vicinity might be a deterrent for owner-occupant families prioritizing top-tier educational institutions.