2119 94th Ave, Oakland, California 94603, Oakland, 94603 - 6 bed, 4 bath
ACTIVE$700,000
2119 94th Ave, Oakland, California 94603
6Beds
4Baths
2,788Sqft
7,500Lot
Price Vs. Estimate
The estimated value ($700,000) is $0 (0%) lower than the list price ($700,000). This property may be overpriced.
Key pros and cons
Top Pros:
Strong Investment Potential: This fourplex is located in an 'Opportunity Zone,' offering potential tax benefits for investors, coupled with its multi-unit income-generating nature.
Top Cons:
Inconsistent Unit Condition: Only three of the four units have been professionally remodeled, implying the fourth unit is in an older condition and may require substantial investment to match the others and achieve maximum rent potential.
Compared to the nearby listings
Price:$700.0K vs avg $525.0K (+$175,000)88%
Size:2,788 sqft vs avg 1,046 sqft97%
Price/sqft:$251 vs avg $4872%
More Insights
Built in 1959 (66 years old).
Condition: Built in 1959, this fourplex has undergone significant renovations in three of its four units, including updated kitchens and bathrooms with modern white shaker cabinets, quartz countertops, new fixtures, and vinyl plank flooring. The renovated spaces appear move-in ready and align with current styles, suggesting renovations within the last 5-15 years. While the exterior and common laundry area show their age, the substantial updates to the majority of the living spaces elevate the property's condition to 'Good' for an investment property.
Year Built
1959
Close
-
List price
$700K
Original List price
$749K
Price/Sqft
$251
HOA
-
Days on market
-
Sold On
-
MLS number
41095121
Home ConditionGood
Features
View-
About this home
Priced to Sell!!! HUGE PRICE REDUCTION from $850k TO $700k. Well maintained fourplex, Amazing opportunity for investor as property is located in "The Opportunity Zone" providing potential tax benefit, fully occupied, three of the four units have been previously professionally remolded kitchen/bath, upgraded cabinets & counter tops, flooring includes tile & vinyl wood flooring throughout, new fixtures, paint, some energy efficient dual pane windows have been added, front entrance has security gate & building has onsite, coin operated laundry room. Each unit comes with its own assigned privet parking plus extra parking for guest. Huge upside rent potential as property has room to improve rent. Hurry this one will not last...
Condition Rating
Good
Built in 1959, this fourplex has undergone significant renovations in three of its four units, including updated kitchens and bathrooms with modern white shaker cabinets, quartz countertops, new fixtures, and vinyl plank flooring. The renovated spaces appear move-in ready and align with current styles, suggesting renovations within the last 5-15 years. While the exterior and common laundry area show their age, the substantial updates to the majority of the living spaces elevate the property's condition to 'Good' for an investment property.
Pros & Cons
Pros
Strong Investment Potential: This fourplex is located in an 'Opportunity Zone,' offering potential tax benefits for investors, coupled with its multi-unit income-generating nature.
Immediate Income & Upside: The property is fully occupied, providing immediate cash flow, and explicitly states 'huge upside rent potential' for future income growth.
Significant Price Reduction: A substantial price drop from $850k to $700k indicates a motivated seller and presents a potential opportunity for a favorable acquisition price.
Recent Unit Upgrades: Three of the four units have been professionally remodeled (kitchen/bath, cabinets, countertops, flooring, fixtures, paint, some dual-pane windows), reducing immediate renovation costs for most units.
Tenant-Friendly Amenities: Features like a security gate, onsite coin-operated laundry, assigned private parking for each unit, and extra guest parking enhance tenant appeal and retention.
Cons
Inconsistent Unit Condition: Only three of the four units have been professionally remodeled, implying the fourth unit is in an older condition and may require substantial investment to match the others and achieve maximum rent potential.
Age of Property: Built in 1959, the property may have underlying older systems (e.g., plumbing, electrical, roof) that could require significant capital expenditures in the near future, despite some unit-specific upgrades.
Potential for Below Market Rents: The mention of 'huge upside rent potential' suggests current rents might be below market value, which could indicate a need for rent increases or further property improvements to justify higher rates, potentially leading to tenant turnover.