2832 Summit St, Oakland, California 94609, Oakland, 94609 - 0 bed, 0 bath
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Oakland, California 94609
This stabilized Oakland triplex represents a High-Potential Investment Opportunity, listed at a $1,470,000 List Price—positioned well below the $1,703,055 Fair Market Value by 13%. This valuation gap offers $233,055 in Instant Equity. With a Condition Rating of 2, the property features recent capital improvements, including a new roof and unit renovations. Boasting CC-2 Zoning and a Deck, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, cash-flowing flagship residence in the heart of Pill Hill.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2832 Summit St Subject | $1,470,000* List Price | 0 | 0 | 3,656 | $362 | - |
A 367 41st St Sold | $1,200,000 | 0 | 0 | 3,514 | $341 | 0.9 mi |
B 359 41st St Sold | $1,200,000 | 0 | 0 | 3,539 | $339 | 0.9 mi |
C 4045 4045 Manila Ave Sold | $1,200,000 | 0 | 0 | 3,550 | $338 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent significant renovations since 2021 (less than 5 years ago), including two fully remodeled units with modern bathrooms and kitchens. Key systems are updated with a roof under five years old, dual-pane windows, and sewer lateral compliance, meeting the criteria for mint condition with no immediate maintenance required.
The property offers a robust 6.32% cap rate with a stabilized NOI of $92,858 and rents already at market levels, providing immediate cash flow with no rent gap to close.
Over $63,000 has been invested since 2021, including a roof under five years old, sewer lateral compliance, dual-pane windows, and two fully remodeled units, significantly reducing future maintenance costs.
Located in the heart of Pill Hill, the property is walking distance to Kaiser Permanente, MacArthur BART, and Lake Merritt, ensuring high tenant demand and excellent connectivity.
Most assigned public schools in the immediate area carry low ratings (1-3), which may deter long-term family tenants who prioritize educational quality.
With 11 bedrooms distributed across only three units, the high occupant density typically leads to increased wear and tear and more complex utility and tenant management.
Stabilized Oakland triplex in the heart of Pill Hill —walking distance to Kaiser Permanente, MacArthur BART, and Lake Merritt. The 2,968 SF building offers 11 bedrooms across three well-configured units: a fully renovated 4BR/2BA flagship unit delivered vacant, a remodeled 4BR/2.5BA, and a 3BR/1BA. Priced at $1,470,000 ($490K/door) with stabilized NOI of $92,858 and a 6.32% cap rate —rents already at market, zero gap to close. Over $63,000 invested since 2021, including sewer lateral compliance, dual-pane windows, two unit remodels, exterior paint, and a roof under five years old. Six parking spaces, in-unit laundry, and four electric meters. CC-2 zoning opens the door to ADU or density exploration, subject to verification. Live in the vacant flagship and collect $7,300+/month from the other two, or add a turnkey cash-flowing triplex to your portfolio. Opportunities like this don't sit long.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades 2-5 • 1.2 mi
Grades K-5 • 1.2 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 | 3,656 | 2,591.5 | 85% |
| Lot Size | 3,962 | 4,129.5 | 35% |
| Price | $1.47M | $997.5K | 90% |
| Price per sq ft | $402 | $340 | 55% |
| Built year | 1945 | 1918 | 95% |
| HOA | $0 | $0 | 50% |
| Days on market | 34 | 130 | 5% |
May 12, 2026
$1,470,000
Initial Listing
Nov 12, 2021
$1,375,000
Public Record