2802 38th Ave, Oakland, California 94619, Oakland, 94619 - 0 bed, 0 bath
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Oakland, California 94619
This Mixed-Use Quadruplex represents a High-Potential Investment Opportunity with a List Price of $799,888—positioned well below the $993,323 Fair Market Value by 19%. This valuation gap provides $193,435 in Instant Equity. Delivering a projected 7% Cap Rate with $7,500 in immediate monthly income, the asset carries a Fair Condition Rating with significant value-add potential through modernization. Strategically located near the I-580 corridor, the property offers diversified revenue streams and low owner overhead. This high-yield asset is ideal for Buy-and-Hold Investors or Portfolio Diversifiers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2802 38th Ave Subject | $799,888* List Price | 0 | 0 | 2,400 | $414 | - |
A 3122 Minna Ave Sold | $625,000 | 0 | 0 | 1,763 | $355 | 0.2 mi |
B 3792 Angelo Ave Active | $875,000 List Price | 0 | 0 | 2,718 | $322 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1925, this nearly century-old mixed-use property is functional and income-generating, but the listing lacks any mention of recent renovations to kitchens, bathrooms, or major systems. While described as low-maintenance and move-in ready for tenants, the age and lack of modern updates place it in the fair category, likely requiring minor repairs and cosmetic modernization.
The mixed-use configuration of three residential units and one commercial space provides a balanced investment profile, effectively reducing vacancy risk through multiple revenue sources.
With an attractive projected cap rate of approximately 7% and immediate monthly income of $7,500, the property offers high yield and low owner overhead as tenants pay most utilities.
Proximity to the I-580 corridor and major retail hubs on Fruitvale and MacArthur Boulevards ensures consistent tenant demand and excellent accessibility to Downtown Oakland and San Francisco.
Built in 1925, the property may require significant ongoing maintenance or capital improvements to modernize systems and address the structural needs of a century-old building.
The local public schools carry low ratings (ranging from 2 to 4), which may limit the property's appeal to long-term family tenants and impact future appreciation potential.
2802 38th Avenue, Oakland presents a compelling mixed-use investment opportunity with immediate cash flow and strong upside potential. The property consists of three residential units—two 2BR/1BA units and one 3BR/1BA unit—along with one commercial space, providing diversified income streams and reduced vacancy risk. Currently generating approximately $7,500/month ($90,000+ annually), this asset offers solid in-place income with projected upside to $90,384+ annually. With tenants responsible for most utilities, operating expenses remain low, contributing to a favorable net operating income (NOI) profile. At an asking price of $788,999, the property is projected to deliver an attractive cap rate in the ~7% range (buyer to verify), making it a strong addition to any income-focused portfolio. Strategically located in the Allendale neighborhood, the property benefits from proximity to I-580, offering convenient access to Downtown Oakland and San Francisco. Nearby retail corridors along Fruitvale Avenue and MacArthur Boulevard enhance tenant demand and long-term rental stability. This is a low-maintenance, high-yield asset ideal for investors seeking cash flow, diversification, and long-term appreciation in a growing East Bay market.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades 6-8 • 0.6 mi
Grades 6-9 • 1.0 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 | 2,400 | 2,073 | 63% |
| Lot Size | 3,493 | 3,882 | 38% |
| Price | $799.9K | $832.5K | 38% |
| Price per sq ft | $333 | $345 | 50% |
| Built year | 1925 | 1925 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 131 | 13% |
Apr 30, 2026
$799,888
Initial Listing
Jan 30, 2025
$795,000
Public Record
Oct 26, 2016
$412,000
Public Record