2612 38th Ave, Oakland, California 94619, Oakland, 94619 - bed, bath
ACTIVE$699,000/sqft
2612 38th Ave, Oakland, California 94619
0Bed
0Bath
Sqft
3,591Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multifamily Investment: This fourplex offers a robust investment opportunity with multiple income streams, explicitly marketed for cash-flowing and long-term hold strategies.
Top Cons:
As-Is Sale Condition: The property is sold in 'As-Is' condition, implying that the buyer will be responsible for any necessary repairs, upgrades, or deferred maintenance without seller contribution.
Compared to the nearby listings
Price:$699.0K vs avg $730.0K ($-31,000)44%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1940 (86 years old).
Condition: Built in 1940, this property is significantly aged. The listing explicitly states 'As-Is condition' and highlights 'value-add potential,' indicating a need for substantial rehabilitation. The kitchen features very dated wood cabinets, basic countertops, an older white refrigerator, and dated tile backsplash. The bathroom also presents with very dated tile work, vanity, and fixtures. While functional and currently occupied, the property's systems and aesthetics are severely outdated, requiring extensive renovations to meet modern living standards and maximize its potential value.
Year Built
1940
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41119709
Home ConditionPoor
Features
View-
About this home
Presenting an investment opportunity at 2600–2612 38th Avenue, Oakland, CA. This is a well-located fourplex offering stable, in-place income and clear value-add potential. The property features four residential units on a spacious lot with designated parking. Three units are occupied for secured income. The corner unit is vacant for potential market rent. As-Is condition, this property is an ideal opportunity for investors seeking a cash-flowing, long-term hold or a value-add multifamily asset in the Oakland market. The location is highly convenient, situated near major commuter routes (I-580 and I-880) for efficient access throughout the East Bay. Residents also benefit from excellent transit connectivity, including the Fruitvale BART station within walking distance and multiple AC Transit routes, which supports strong and consistent rental demand.
L
Laura Tang
Listing Agent
Price History
Date
Event
Price
04/24/01
Sold
$360,000
04/17/00
Sold
$230,000
01/29/10
Sold
$257,000
Condition Rating
Poor
Built in 1940, this property is significantly aged. The listing explicitly states 'As-Is condition' and highlights 'value-add potential,' indicating a need for substantial rehabilitation. The kitchen features very dated wood cabinets, basic countertops, an older white refrigerator, and dated tile backsplash. The bathroom also presents with very dated tile work, vanity, and fixtures. While functional and currently occupied, the property's systems and aesthetics are severely outdated, requiring extensive renovations to meet modern living standards and maximize its potential value.
Pros & Cons
Pros
Multifamily Investment: This fourplex offers a robust investment opportunity with multiple income streams, explicitly marketed for cash-flowing and long-term hold strategies.
Value-Add Potential: The presence of a vacant corner unit allows for immediate renovation and lease-up at market rates, providing clear potential to increase overall property income and value.
Strong Transit Connectivity: Located within walking distance to Fruitvale BART station and near multiple AC Transit routes, ensuring high rental demand due to excellent public transportation access.
Strategic Commuter Access: Conveniently situated near major commuter routes (I-580 and I-880), offering efficient access throughout the East Bay and appealing to a broad tenant base.
Stable In-Place Income: Three out of four units are currently occupied, providing immediate and secured income for the investor from day one.
Cons
As-Is Sale Condition: The property is sold in 'As-Is' condition, implying that the buyer will be responsible for any necessary repairs, upgrades, or deferred maintenance without seller contribution.
Property Age: Built in 1940, the property is over 80 years old, which may indicate outdated systems (plumbing, electrical, HVAC) and potentially higher maintenance costs or the need for significant capital improvements.
Required Capital Expenditure: To fully realize the 'value-add potential' and maximize rental income, substantial investment in renovations and upgrades will likely be required, particularly for the vacant unit.