2827 Market, Oakland, California 94608, Oakland, 94608 - bed, bath
ACTIVE$799,000
2827 Market, Oakland, California 94608
0Bed
0Bath
Sqft
4,109Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Asset: The property includes three units currently producing income, offering immediate cash flow and a strong return on investment potential for the new owner.
Top Cons:
Historic Property Maintenance: Built in 1884, the property is likely to require significant ongoing maintenance, system upgrades, and potential adherence to historical preservation standards, which can be costly.
Compared to the nearby listings
Price:$799.0K vs avg $810.0K ($-11,000)47%
Size: sqft vs avg 1,314 sqft4%
Price/sqft:$0 vs avg $5594%
More Insights
Built in 1884 (141 years old).
Condition: Built in 1884, this property shows significant signs of age and deferred maintenance. The kitchens and bathrooms across the multiple units are consistently very dated with older appliances, basic cabinetry, and older fixtures and finishes (linoleum, older tile). Flooring includes worn carpets and older hardwood. The exterior has peeling paint and visible wear. While functional, the property requires substantial rehabilitation to address its age, bring major systems (electrical, plumbing, HVAC, roof) up to modern standards, and update the severely outdated interiors. The discrepancy between the listing description and the 'Single Family Residence' sub-type also suggests potential unpermitted conversions, which could imply further structural or safety concerns.
Year Built
1884
Close
-
List price
$799K
Original List price
$799K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41111496
Home ConditionPoor
Features
Deck
Patio
View-
About this home
2 houses for the price of one, 3 units are producing income, has a very spacious, vacant unit for the new owner. Close to transportation, shopping and downtown Oakland First Fridays is celebrated within walking distance, night market and food hall on Peralta St, farmer's market locations just a few minutes driving Open House on SATURDAY NOV, 22nd from 1:00 to 3:00 pm
Condition Rating
Poor
Built in 1884, this property shows significant signs of age and deferred maintenance. The kitchens and bathrooms across the multiple units are consistently very dated with older appliances, basic cabinetry, and older fixtures and finishes (linoleum, older tile). Flooring includes worn carpets and older hardwood. The exterior has peeling paint and visible wear. While functional, the property requires substantial rehabilitation to address its age, bring major systems (electrical, plumbing, HVAC, roof) up to modern standards, and update the severely outdated interiors. The discrepancy between the listing description and the 'Single Family Residence' sub-type also suggests potential unpermitted conversions, which could imply further structural or safety concerns.
Pros & Cons
Pros
Income-Generating Asset: The property includes three units currently producing income, offering immediate cash flow and a strong return on investment potential for the new owner.
Multi-Unit Configuration: Described as '2 houses for the price of one' with multiple units, this property provides flexibility for owner-occupancy with rental income or as a pure investment opportunity.
Immediate Occupancy/Rental Potential: A spacious, vacant unit is available for the new owner, allowing for immediate move-in or quick rental to maximize income without delay.
Prime Urban Location: Situated close to transportation, shopping, and downtown Oakland, enhancing convenience and desirability for tenants and owner-occupants alike.
Vibrant Neighborhood Amenities: Within walking distance to cultural events like First Fridays, night markets, food halls on Peralta St, and a short drive to farmer's markets, offering a rich urban lifestyle.
Cons
Historic Property Maintenance: Built in 1884, the property is likely to require significant ongoing maintenance, system upgrades, and potential adherence to historical preservation standards, which can be costly.
Zoning/Permit Discrepancy: The description of '2 houses for the price of one, 3 units' conflicts with the 'Single Family Residence' sub-type, potentially indicating unpermitted units, zoning challenges, or difficulties with financing and insurance.
Potential for Deferred Maintenance: Given its age and multi-unit nature, there is a higher probability of accumulated deferred maintenance issues that a new owner would need to identify and address, incurring additional expenses.