3131 Magnolia St, Oakland, California 94608, Oakland, 94608 - 6 bed, 3 bath
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3131 Magnolia St
Oakland, California 94608
ACTIVE
CONDITION: GOOD
6Beds
3Baths
2,584Sq Ft
4,440Lot Size
Property Price
LIST PRICE$815,000
EST. MARKET VALUE
$867,869
6% BelowMARKET VALUE
SUMMARY
This Multi-Unit Residential Asset is a Strong Value Opportunity, listed at $815,000—positioned well below the $867,870 Fair Market Value by 6%. This valuation gap offers $52,870 in Instant Equity. Featuring a permitted two-unit layout plus a detached ADU, the property is in Condition Rating 3, requiring final inspections on the ADU. With 6 bedrooms, 3 baths, and 2,584 sqft, it provides immense flexibility for Buy-and-Hold Investors or Owner-Occupants seeking income-generating potential near major transit hubs.
Estimated Market Value
$867,869+$52,869 Equity Potential
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 |
|---|---|---|---|---|---|---|
★ 3131 Magnolia St Subject 6 bd · 3 ba · 2,584 sqft · $336 | $815,000* List Price | 6 | 3 | 2,584 | $336 | - |
A 3029 Chestnut St Sold 0 bd · 0 ba · 2,644 sqft · $325 · 0.1 mi | $860,000 | 0 | 0 | 2,644 | $325 | 0.1 mi |
B 3029 Linden St Sold 4 bd · 3 ba · 2,256 sqft · $395 · 0.2 mi | $890,000 | 4 | 3 | 2,256 | $395 | 0.2 mi |
C 3306 West St Sold 5 bd · 2 ba · 1,916 sqft · $409 · 0.6 mi | $783,000 | 5 | 2 | 1,916 | $409 | 0.6 mi |
D 4326 West St Sold 4 bd · 3 ba · 1,825 sqft · $397 · 0.9 mi | $725,000 | 4 | 3 | 1,825 | $397 | 0.9 mi |
E 1324 Fitzgerald St Pending 6 bd · 4 ba · 2,694 sqft · $371 · 0.2 mi | $999,000 List Price | 6 | 4 | 2,694 | $371 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
The property shows a high-quality recent renovation with modern bathroom finishes, updated windows, and a clean exterior. While the main units appear move-in ready, the detached ADU is currently unfinished and requires final inspections, which prevents a rating of 'Excellent' due to the remaining work needed.
PROSSTRENGTHS & OPPORTUNITIES
- High Income Potential
The property features a permitted two-unit layout plus a detached ADU, offering exceptional opportunities for rental income, house-hacking, or multi-generational living on a single lot.
- Strategic Commuter Location
Situated near the Emeryville border and the Bay Bridge, the home provides excellent proximity to major shopping hubs, Poplar Park, and transit routes to San Francisco.
- Versatile Living Space
With six bedrooms across three distinct units, the property offers a flexible configuration that can accommodate large families or multiple tenant groups simultaneously.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 5.
- Unfinished ADU Condition
The detached ADU requires additional finish work and a final inspection that the sellers will not complete, placing the burden of cost and permitting risk on the buyer.
- Solar Lease Obligation
The buyer must assume a $280 monthly solar lease, which represents a significant recurring fixed expense that may impact overall affordability and debt-to-income ratios.
About 3131 Magnolia St
Built in 1905: a permitted two-unit home plus a detached ADU, all on one Oakland lot. A layout that works for multi-generational living, with income potential too: live in one unit and rent the other, and add the ADU once it is finaled. The upper unit, up from the sidewalk, has 2 bedrooms plus a bonus room (originally the living room, easy to open back up), a full bath, kitchen, laundry room, and an electric fireplace. The lower unit sits at garage level with natural light and its own private entrance: 3 bedrooms, a full bath, and a kitchen. Out back, a detached 1 bed, 1 bath ADU with kitchen and living room, built with permits, with its own address (3133 Magnolia) and its own meter. The ADU needs finish work and its final inspection, which the sellers are not completing. Single-car garage plus a large enclosed storage room. Close to the Bay Bridge, Emeryville shopping, and Poplar Park. Leased solar, $280 per month, to be assumed by buyer. Buyer to verify permits, use, and square footage.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1905
- Lot Size
- 4,440 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Oakland Unified Schools
Hoover Elementary School
Grades K-5 • 0.4 mi
2/10
Lafayette Elementary School
Grades 2-5 • 1.1 mi
1/10
Martin Luther King, Jr. Elementary School
Grades PK-3 • 1.2 mi
2/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,584 | 1,591.405 |
| Lot Size | 4,440 | 5,033.821 |
| Price | $815.0K | $1.04M |
| Price per sq ft | $315 | $611 |
| Built year | 1905 | 1927 |
| HOA | $0 | $227 |
| Days on market | 9 | 36 |
Pricing History
Listed for Sale
Oct 15, 2026
$815,000
Initial Listing
Sold
Aug 19, 2022
$775,000
Public Record
Sold
Feb 3, 2012
$160,000
Public Record
Sold
Mar 12, 2003
$46,000
Public Record