1932 Seminary Ave, Oakland, California 94621, Oakland, 94621 - bed, bath
ACTIVE$535,000/sqft
1932 Seminary Ave, Oakland, California 94621
0Bed
0Bath
Sqft
6,000Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Central Oakland Location: The property is a centrally located fourplex in Oakland, offering access to urban amenities and a strong rental market.
Top Cons:
Age of Construction: Built in 1918, the property is over a century old, potentially requiring significant capital investment for system updates or structural maintenance.
Compared to the nearby listings
Price:$535.0K vs avg $547.5K ($-12,500)50%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1918 (108 years old).
Condition: Built in 1918, this property is over a century old. The listing explicitly states that its age is a weakness, requiring 'significant capital investment for system updates or structural maintenance' and 'substantial unit renovations and property upgrades' to achieve market rents. While fully occupied, the lack of interior images combined with the description's emphasis on needed capital expenditure and system/structural work indicates that the property is in a 'poor' condition, requiring substantial repairs and rehabilitation rather than minor updates.
Year Built
1918
Close
-
List price
$535K
Original List price
$535K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41120777
Home ConditionPoor
Features
View-
About this home
1932 Seminary Avenue represents an opportunity to acquire a centrally located fourplex in Oakland that is fully occupied. The property features a balanced unit mix of 2 two bedroom/1 bathroom and 2 one bedroom/1 bathroom units, totaling approximately 3,218 square feet on a 6,000 square foot lot per public records. Current rents are below market, allowing investors to enter at an attractive cost basis on both a price per unit and price per square foot.
N
Nolan Jones
Listing Agent
Nearby schools
3/10
Greenleaf Elementary School
Public,•K-8•0.2mi
1/10
Roots International Academy
Public,•6-8•0.4mi
2/10
Frick Middle School
Public,•6-8•0.7mi
3/10
Coliseum College Prep Academy
Public,•6-12•0.4mi
2/10
Fremont High
Public,•9-12•0.9mi
1/10
Castlemont High
Public,•9-12•1.9mi
2/10
Oakland International High School
Public,•9-12•5.8mi
Price History
Date
Event
Price
11/12/20
Sold
$660,000
07/01/19
Sold
$709,000
03/22/10
Sold
$203,000
07/01/04
Sold
$570,000
Condition Rating
Poor
Built in 1918, this property is over a century old. The listing explicitly states that its age is a weakness, requiring 'significant capital investment for system updates or structural maintenance' and 'substantial unit renovations and property upgrades' to achieve market rents. While fully occupied, the lack of interior images combined with the description's emphasis on needed capital expenditure and system/structural work indicates that the property is in a 'poor' condition, requiring substantial repairs and rehabilitation rather than minor updates.
Pros & Cons
Pros
Central Oakland Location: The property is a centrally located fourplex in Oakland, offering access to urban amenities and a strong rental market.
Immediate Cash Flow: Being fully occupied, the property provides immediate rental income for the investor from day one.
Significant Rental Upside Potential: Current rents are below market, presenting a clear opportunity for investors to increase cash flow and property value through rent adjustments.
Attractive Acquisition Price: The list price of $535,000 offers an attractive cost basis per unit and per square foot, especially when compared to recent sales history.
Diverse Unit Mix: A balanced mix of two 2-bedroom/1-bathroom and two 1-bedroom/1-bathroom units caters to a wider range of potential tenants.
Cons
Age of Construction: Built in 1918, the property is over a century old, potentially requiring significant capital investment for system updates or structural maintenance.
Low-Rated Local Schools: The proximity to several schools with low ratings (1-3 out of 10) may limit appeal to families and could affect long-term tenant demographics.
Required Capital for Rent Optimization: While rents are below market, achieving optimal market rates will likely necessitate substantial unit renovations and property upgrades, requiring additional capital expenditure.