1345 53rd Ave, Oakland, California 94601, Oakland, 94601 - 2 bed, 2 bath
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Oakland, California 94601
This Melrose Value-Add Asset represents a High-Potential Investment Opportunity with a List Price of $349,000—positioned well below the $363,017 Fair Market Value by 3%. This valuation gap offers $14,017 in Instant Equity for buyers prepared to finalize the duplex conversion. Currently in Poor Condition, the property requires extensive rehabilitation but benefits from proximity to Fremont High and Melrose Leadership Academy. This is a strategic acquisition for Fix-and-Flip Investors or Contractors seeking a high-yield project in the Oakland market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1345 53rd Ave Subject | $349,000* List Price | 2 | 2 | 1,232 | $295 | - |
A 2030 2030 42nd Ave Sold | $276,000 | 2 | 1 | 910 | $303 | 0.7 mi |
B 1201 41st Ave Active | $395,000 List Price | 2 | 1 | 1,127 | $350 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
This 1906 property is in the middle of an unfinished conversion and requires substantial rehabilitation. Interior images show exposed wall studs, insulation, and unfinished electrical work, while the living areas feature sagging ceiling tiles and significant wear. The listing description explicitly states the home 'needs a lot of work' and advises buyers to 'bring your contractor,' confirming that major systems and structural finishes are incomplete or in disrepair.
The property is originally intended as a duplex, offering a significant value-add opportunity for investors to restore it to a two-unit configuration for dual rental income.
Conveniently situated in the Melrose neighborhood, the home provides excellent proximity to public transportation, local schools, and retail centers, ensuring high demand for future occupants.
Listed at $349,000, this property represents a low-cost entry point into the Oakland real estate market, making it an attractive option for contractors and experienced flippers.
The property is in poor condition and requires substantial work, necessitating a significant additional investment in labor and materials to bring it up to modern standards.
A previous failed attempt to convert the duplex into a single-family dwelling may have resulted in layout complications and permitting challenges that need to be addressed by a professional.
Come and look at these property's potential. Seller tried to convert it to a single family dwelling. Bring your contractor. These property is supposed to be two units. It needs a lot of work. Come convert it to the beautiful duplex that is supposed to be. Close to stores, public transportation and schools.
No exterior & parking available.
Grades 6-8 • 0.8 mi
Grades PK-8 • 1.0 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 40% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,232 | 1,327 | 45% |
| Lot Size | 3,000 | 4,375 | 17% |
| Price | $349.0K | $565.0K | 9% |
| Price per sq ft | $283 | $407 | 11% |
| Built year | 1906 | 1921 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 16 | 187 | 2% |
Apr 6, 2026
$349,000
Initial Listing
Jun 23, 2009
$100,000
Public Record