
Oakland, California 94606
This property presents a High-Potential Investment Opportunity with a List Price of $390,000—positioned well above the $378,028 Fair Market Value by -3%. Featuring a Fair Condition Rating, the asset includes City-Approved Plans for ADU/Addition, allowing for an expansion to 1,034 sq ft. While local schools currently hold lower ratings, the shovel-ready development potential provides a clear path for forced appreciation. This is a strategic acquisition ideal for Buy-and-Hold Investors or Contractors seeking to maximize rental yield through immediate expansion.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2840 22nd Ave Subject | $390,000* List Price | 1 | 1 | 576 | $656 | - |
A 2821 Vallecito Pl Active | $475,000 List Price | 2 | 1 | 801 | $593 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1920, the home features a dated bathroom and interior finishes likely renovated 20-30 years ago. While the listing describes it as functional, the emphasis on 'bring your contractor' and approved plans for expansion indicates the current structure requires significant updates to meet modern standards.
The property includes city-approved plans for an addition and a brand-new ADU, allowing the buyer to bypass months of permitting and architectural fees to immediately begin expansion.
With a competitive entry price and plans to nearly double the living space to 1,034 sq ft, this property offers a clear path for investors or homeowners to build rapid equity.
The approved multi-unit configuration provides excellent flexibility to generate passive rental income from the ADU or create a private guest suite and home office setup.
At only 576 sq ft, the current structure is very small and may require immediate construction to be functional for most buyers, adding to the initial capital requirement.
The property is zoned for schools with lower ratings, specifically high schools rated 2/10, which may limit the appeal for families and impact long-term resale value.
Incredible Opportunity! Charming home and City-Approved Plans for Addition and ADU. Unlock massive value and bypass the headache of the permitting process with this unique real estate gem. Perfect for first-time homebuyers, savvy investors, or anyone looking to build equity quickly, this property offers immediate functionality, shovel-ready expansion potential. Step into a cozy, well-proportioned 1/1 bath single-family residence spanning an efficient 576 sq ft. This charming footprint is ideal as a high-yield rental, a minimalist primary residence, or a comfortable place to live while you expand. The true crown jewel of this property is the fully approved city plans for a major expansion. Skip months of waiting, architectural fees, and etc. The approved plans allow for an addition and a brand-new Accessory Dwelling Unit (ADU), adding a second bedroom and a second bathroom across an additional 458 sq ft of living space. Once completed, the property will transform into a highly desirable multi-unit setup or a spacious single-family layout totaling a generous 1,034 sq ft. Whether your goal is to build a private guest house, generate passive income by renting out the ADU, or create a flexible work-from-home sanctuary, the blueprint for your success has already been validated and approved by the city. Opportunities with this level of preparation do not come along often, bring your contractor and realize the full potential of this versatile property today. Property currently used as a 3 bedrooms, 1 bath. County records show as 1/1.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.8 mi
Grades 6-8 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 576 | 1,630.086 |
| Lot Size | 2,500 | 5,044.686 |
| Price | $390.0K | $1.05M |
| Price per sq ft | $677 | $618 |
| Built year | 1920 | 1927 |
| HOA | $0 | $265 |
| Days on market | 23 | 37 |
Aug 17, 2026
$390,000
Initial Listing
Jul 2, 2008
$185,000
Public Record
Dec 28, 2004
$319,000
Public Record
Jun 9, 1995
$43,000
Public Record