16085 Gramercy Drive, San Leandro, California 94578, San Leandro, 94578 - 3 bed, 2 bath
ACTIVE UNDER CONTRACT$749,000
16085 Gramercy Drive, San Leandro, California 94578
3Beds
2Baths
1,257Sqft
9,040Lot
Year Built
1950
Close
-
List price
$749K
Original List price
$749K
Price/Sqft
$596
HOA
-
Days on market
32 Days
Sold On
2025-10-17
MLS number
ML82021670
Home ConditionPoor
Features
Excellent View:
Spa
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $749.0K(30th), sqft - 1257(33th), beds - 3(50th), baths - 2(50th).
Each of the bedroom has the view of the bay. the property also has a large size lot( about 9000 sqft). Currently is listed below the market value( nearby properties are listed around 1 millions) . The property has a lot of deferred maintenance and needs renovation. Use your imagination and bring your tool, it is great Fix and Flip property.
Nearby schools
6/10
Stanton Elementary School
Public,•K-5•0.9mi
3/10
Corvallis Elementary School
Public,•K-5•2.4mi
1/10
Edendale Middle School
Public,•6-8•0.8mi
7/10
Creekside Middle School
Public,•6-8•2.7mi
7/10
Canyon Middle School
Public,•6-8•3.0mi
2/10
Redwood Continuation High School
Public,•9-12•1.0mi
4/10
San Lorenzo High School
Public,•9-12•1.5mi
8/10
Castro Valley High School
Public,•9-12•1.7mi
7/10
Arroyo High School
Public,•9-12•2.3mi
4/10
East Bay Arts High School
Public,•9-12•2.5mi
Price History
Date
Event
Price
09/15/25
Listing
$749,000
Condition Rating
Poor
The property was built in 1950 and the listing description explicitly states 'a lot of deferred maintenance and needs renovation,' labeling it a 'Fix and Flip property.' Images reveal significant cracking on interior walls, very old and worn window frames, and a dated bathroom with older tile work. The exterior also appears unkempt and in need of repair. These factors indicate substantial repairs and rehabilitation are required, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Bay Views: Each bedroom offers desirable bay views, enhancing the property's aesthetic appeal and potential value.
Large Lot Size: The property boasts a substantial 9,040 sqft lot, providing ample space for outdoor amenities, landscaping, or potential expansion.
Significant Fix and Flip Potential: Explicitly identified as a great fix-and-flip opportunity, appealing to investors seeking high profit margins through renovation.
High After-Repair Value (ARV) Potential: Listed at $749,000, which is significantly below the estimated $1,000,000 market value of comparable renovated properties, indicating strong equity growth post-renovation.
Desirable Location: Located in San Leandro, a sought-after Bay Area city, contributing to long-term appreciation and demand.
Cons
Extensive Deferred Maintenance: The property has a lot of deferred maintenance, necessitating substantial repairs and capital investment to bring it to modern standards.
Requires Comprehensive Renovation: A full renovation is required, implying considerable time, effort, and financial resources to modernize the property and address its current condition.
Current List Price Above As-Is Estimated Value: The current list price of $749,000 is 12% higher than the property's estimated as-is value of $653,932, which may require careful justification to potential buyers.