
Oakland, California 94602
This triplex presents a High-Potential Investment Opportunity with a List Price of $1,450,000—positioned well below the $1,635,261 Fair Market Value by 11%. This valuation gap offers $185,261 in Instant Equity. Featuring a Condition Rating of 4, the property includes a 1904 Victorian and two 2009 townhomes with Rent Control Exemption. With significant Value-Add Potential via attic conversion, this asset is ideal for Buy-and-Hold Investors or Value-Add Developers seeking to maximize long-term cash flow and density.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3134 Pleitner Ave Subject 0 bd · 0 ba · 6,344 sqft · $258 | $1,450,000* List Price | 0 | 0 | 6,344 | $258 | - |
A 2550 2550 Damuth St Sold 0 bd · 0 ba · 4,003 sqft · $296 · 0.5 mi | $1,185,000 | 0 | 0 | 4,003 | $296 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property consists of a 1904 Victorian front house and two newer 2009 rear townhomes. While the rear units are relatively modern, the exterior images show signs of wear, weathered siding, and an unfinished garage area, indicating the property is dated overall and requires minor repairs and updates.
The two rear townhomes, constructed in 2009, are not subject to local rent control ordinances, providing investors with the flexibility to adjust rents to market rates and maximize cash flow.
The property includes significant attic space with the potential for conversion into a fourth unit, offering a clear opportunity to increase density and overall asset value.
The rear units feature contemporary 4-bedroom, 3.5-bathroom layouts with private garages, a rare and highly desirable configuration that attracts premium tenants compared to older multi-family stock.
The property utilizes a single shared water meter for all units, which can complicate utility billing and increase non-reimbursable operating expenses for the owner.
The assigned local middle and high schools have low ratings (2/10), which may limit the property's appeal to families and impact long-term appreciation potential.
Welcome to a versatile multi-residence property offering immediate rental income, possible room to grow, and the chance to make it your own. Three homes share one lot, with one unit currently vacant and ready for an owner-occupant or a new tenant. Income from the existing units may help offset the mortgage, making this an attractive option for buyers looking to live in one home while the others work for them. The front residence is a 5/2 classic Edwardian-style home, built in 1904, this property is a handyman special/fixer that can be tailored to your exact specifications. Behind it, two contemporary townhome-style residences built in 2009 each offer 4 bedrooms, 3.5 bathrooms, and a private garage. Additional attic space presents strong potential for a buyer with vision, including a possible conversion to a fourth unit. Buyer to verify. Utilities are well configured for multi-unit living, with four electric meters, three separate gas meters, and one shared water meter. Located near Fruitvale Avenue’s neighborhood markets, shops, restaurants, and cafes this property enjoys a Walk Score of 80. It also has easy access to highway 580. Whether you’re an owner-occupant seeking income to support your purchase, an investor looking to expand, or a buyer ready to transform a historic home, this property delivers flexibility and upside in one of Oakland’s most connected neighborhoods.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 6,344 | 2,403.227 |
| Lot Size | 7,500 | 4,461.364 |
| Price | $1.45M | $900.8K |
| Price per sq ft | $229 | $343 |
| Built year | 1904 | 1919 |
| HOA | $0 | $0 |
| Days on market | 28 | 67 |
Sep 26, 2026
$1,450,000
Initial Listing
Feb 7, 2020
$1,300,000
Public Record
Jun 26, 2000
$240,000
Public Record
Dec 3, 1999
$116,000
Public Record