1940 Placer Drive, San Leandro, California 94578, San Leandro, 94578 - 3 bed, 2 bath
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1940 Placer Drive
San Leandro, California 94578
ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,618Sq Ft
6,038Lot Size
Property Price
LIST PRICE$898,888
EST. MARKET VALUE
$895,712
SUMMARY
This versatile duplex represents a Strong Value Opportunity, listed at $898,888—positioned slightly above the $895,713 Fair Market Value. Despite the minor price premium, the property offers significant utility through its individually metered units and 6-vehicle off-street parking. With a Condition Rating of 4, the vintage 1947 structure provides a stable foundation for value-add cosmetic updates. Featuring sweeping bay views and a flexible layout, this asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Estimated Market Value
$895,712
Based on Realkey algorithm analyzing recent comparable sales in San Leandro.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1940 Placer Drive Subject | $898,888* List Price | 3 | 2 | 1,618 | $554 | - |
A 14044 School Street Sold | $850,000 | 3 | 2 | 1,358 | $626 | 0.4 mi |
B 13955 School St Sold | $725,000 | 3 | 2 | 1,376 | $527 | 0.5 mi |
C 14590 Bancroft Ave Sold | $822,000 | 3 | 1 | 1,569 | $524 | 0.4 mi |
D 930 Castle St Sold | $852,000 | 3 | 2 | 1,352 | $630 | 0.8 mi |
E 804 Crocus Drive Sold | $800,000 | 3 | 2 | 1,916 | $418 | 1.0 mi |
F 1591 159th Ave Sold | $742,000 | 4 | 2 | 1,536 | $483 | 0.9 mi |
G 1736 Halsey Ave Active | $824,999 List Price | 3 | 2 | 1,590 | $519 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1947 (77 years old), the property is functional and income-producing but lacks mention of recent major renovations to kitchens, bathrooms, or core systems. While the exterior appears maintained, the age and lack of modern upgrades suggest the interior is dated and requires minor repairs and modernization to meet current market expectations.
PROSSTRENGTHS & OPPORTUNITIES
- Income Versatility
This duplex features two distinct units with separate postal addresses and individually metered utilities, making it ideal for an owner-occupant looking to offset their mortgage or an investor seeking immediate rental income.
- Exceptional Bay Views
Located in the Hillcrest Knolls neighborhood, the property offers sweeping views of the San Francisco Bay and Peninsula from both units, providing a high-end aesthetic that commands premium market interest.
- Abundant Off-Street Parking
The property includes a dedicated parking area behind the duplex capable of accommodating six vehicles, a rare and highly valuable asset for a multi-unit property in a hillside location.
CONSRISKS & DEFICIENCIES
- Low School Ratings
The assigned local schools, particularly the elementary and middle schools, have low performance ratings (2/10 and 1/10 respectively), which may limit the property's appeal to families prioritizing high-performing educational environments.
- Vintage Construction
Built in 1947, the property may require more frequent maintenance or capital improvements to systems and finishes compared to newer residential structures.
About 1940 Placer Drive
Rare duplex opportunity in San Leandro's heights of the Hillcrest Knolls neighborhood, with sweeping bay views from each unit, including views of the SF Peninsula. This income-producing property features two distinct units with separate postal addresses and individually metered gas and electricity, ideal for an owner-occupant looking to offset their mortgage with rental income, or a strong addition to any investment portfolio. Unit #1942 is a 1-bedroom, 1-bathroom with in-unit laundry, perfect for owner-occupancy or premium market-rate rental. Unit #1940 is a spacious 2-bedroom, 1-bathroom occupied by a long-term tenant providing immediate rental income. Dedicated off-street parking behind the duplex for 6 vehicles. Excellent commute location near major routes, shopping, and dining. Pre-sale inspections and disclosures available; see documentation link. A rare chance to own a versatile, view-rich duplex in one of San Leandro's hillside locations, just minutes from downtown Castro Valley.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1947
- Lot Size
- 6,038 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Leandro Unified Schools
Jefferson Elementary School
Grades K-5 • 0.4 mi
3/10
Hillside Elementary School
Grades K-5 • 1.0 mi
2/10
Roosevelt Elementary School
Grades K-5 • 1.9 mi
6/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,618 | 1,384.25 |
| Lot Size | 6,038 | 5,266.528 |
| Price | $898.9K | $890.9K |
| Price per sq ft | $556 | $649 |
| Built year | 1947 | 1950 |
| HOA | $0 | $148 |
| Days on market | 16 | 39 |
Pricing History
Listed for Sale
Aug 24, 2026
$898,888
Initial Listing
Sold
May 31, 2024
$790,000
Public Record
Sold
Jun 28, 2022
$250,000
Public Record