1993 38th Ave, Oakland, California 94601, Oakland, 94601 - 0 bed, 0 bath
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Oakland, California 94601
This Value-Add Residential Income Asset is listed at $585,000, reflecting its significant development potential despite being priced above the $513,892 Fair Market Value. With a Condition Rating of 5, the property requires substantial rehabilitation but offers a high-ceiling opportunity via its 6,560 sqft lot, existing duplex configuration, and compliant sewer lateral. Proximity to Fruitvale BART, Lincoln Middle School (9/10), and Alameda High School (9/10) provides a clear path for rental demand and forced appreciation. This project is perfectly suited for Buy-and-Hold Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1993 38th Ave Subject | $585,000* List Price | 0 | 0 | 1,333 | $386 | - |
A 2150 35th Ave Active | $675,000 List Price | 0 | 0 | 1,795 | $376 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1923, this property shows significant age and deferred maintenance throughout. The kitchens and bathrooms in both units are very dated, featuring old cabinets, worn countertops, basic fixtures, and tired flooring, indicating they haven't been extensively renovated in 30-50+ years. While some appliances might be newer (e.g., the range in the front unit), the overall condition requires substantial repairs and rehabilitation to meet modern standards. The unpermitted garage conversion also poses a significant risk and potential for costly remediation, further contributing to a 'poor' condition assessment.
Middle School: Lincoln Middle School (9/10). High School: Alameda High School (9/10).
As a duplex with an additional bonus studio unit, the property offers significant rental income opportunities, appealing to investors or owner-occupants seeking supplemental income.
The large 6560 sqft lot and existing 'large space in rear' present a clear opportunity to add more units, increasing future value and income potential.
The 'Garage conversion to bonus Studio unit Unknown permits' poses a significant risk, potentially requiring costly legalization, demolition, or impacting financing and insurance.
Built in 1923, the property is likely to require substantial updates, repairs, and ongoing maintenance, which could be a considerable expense for a new owner.
Several nearby public schools have low ratings, which could be a deterrent for families with school-aged children and potentially impact long-term property appreciation in that demographic.
INCREDIBLE POTENTIAL!! Great Duplex w/ bonus bulding, hard to beat location with easy freeway access, close to Fruitvale BART station. The front unit of the home is a 3-bedroom 1-bath, and the back unit is a 1-bedroom and 1-bath, Garage conversion to bonus Studio unit Unknown permits. The sewer lateral is in compliance with building codes. This large space in rear that may be opportunity to add more units. Cozy community space directly behind unit 2 and a long driveway for access or parking. Close proximity to multiple markets, shops, and banks.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.8 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,333 | 2,436.5 | 20% |
| Lot Size | 6,560 | 4,937.5 | 60% |
| Price | $585.0K | $656.0K | 40% |
| Price per sq ft | $439 | $323 | 80% |
| Built year | 1923 | 1941 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 160 | 165 | 50% |
Jan 21, 2026
$585,000
$595,000
-2% Price Drop
Initial Listing
Nov 13, 2025
$595,000
Initial Listing
Jul 13, 2018
$550,000
Public Record