2832 Summit St, Oakland, California 94609, Oakland, 94609 - 0 bed, 0 bath
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2832 Summit St
Oakland, California 94609
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
3,656Sq Ft
3,962Lot Size
Property Price
LIST PRICE$1,395,000
EST. MARKET VALUE
$1,357,549
SUMMARY
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.
Estimated Market Value
$1,357,549
Based on Realkey algorithm analyzing recent comparable sales in Oakland.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2832 Summit St Subject 0 bd · 0 ba · 3,656 sqft · $371 | $1,395,000* List Price | 0 | 0 | 3,656 | $371 | - |
A 367 41st St Sold 0 bd · 0 ba · 3,514 sqft · $341 · 0.9 mi | $1,200,000 | 0 | 0 | 3,514 | $341 | 0.9 mi |
B 4045 4045 Manila Ave Sold 0 bd · 0 ba · 3,550 sqft · $338 · 0.9 mi | $1,200,000 | 0 | 0 | 3,550 | $338 | 0.9 mi |
C 359 41st St Sold 0 bd · 0 ba · 3,539 sqft · $339 · 0.9 mi | $1,200,000 | 0 | 0 | 3,539 | $339 | 0.9 mi |
D 532 42nd St Sold 0 bd · 0 ba · 2,850 sqft · $445 · 1.0 mi | $1,267,500 | 0 | 0 | 2,850 | $445 | 1.0 mi |
E 476 42nd Street Active 0 bd · 0 ba · 3,780 sqft · $417 · 1.0 mi | $1,575,000 List Price | 0 | 0 | 3,780 | $417 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
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.
PROSSTRENGTHS & OPPORTUNITIES
- Strong Financial Performance
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.
- Extensive Recent Capital Improvements
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.
- Strategic Transit-Oriented Location
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.
CONSRISKS & DEFICIENCIES
- Low Local School Ratings
Most assigned public schools in the immediate area carry low ratings (1-3), which may deter long-term family tenants who prioritize educational quality.
- High Management Intensity
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.
About 2832 Summit St
A hospital campus two blocks up the street. Every unit leased. 2832 Summit is a three-unit Pill Hill building between Broadway and Telegraph. Walk Score 97. Bus at a tenth of a mile, 19th Street BART at 0.7 mile. Unit 1 offers four bedrooms and two baths with shaker cabinetry, a farmhouse sink, a gas range, and in-unit laundry. Unit 2 has four bedrooms, two and a half baths, in-unit laundry, and a private deck. Unit 3 is a three-bedroom, one-bath on the lower level. Six tandem off-street parking spaces. Windows replaced in 2023. All three units are leased at rents in line with market. $1,395,000. $382/SF. $465,000 per unit. $140,208 annualized in-place income, 6.64% CAP. Contact the listing agent for the rent roll and disclosure package.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1945
- Lot Size
- 3,962 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Oakland Unified Schools
Hoover Elementary School
Grades K-5 • 0.7 mi
2/10
Lafayette Elementary School
Grades 2-5 • 1.2 mi
1/10
Piedmont Avenue Elementary School
Grades K-5 • 1.2 mi
2/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 3,656 | 2,403.227 |
| Lot Size | 3,962 | 4,461.364 |
| Price | $1.40M | $900.8K |
| Price per sq ft | $382 | $343 |
| Built year | 1945 | 1919 |
| HOA | $0 | $0 |
| Days on market | 166 | 67 |
Pricing History
Listed for Sale
Sep 25, 2026
$1,395,000
$1,470,000
-5% Price Drop
Initial Listing
Price Change
May 12, 2026
$1,470,000
Initial Listing
Sold
Nov 12, 2021
$1,375,000
Public Record