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4031 Penniman Ave, Oakland, California 94619, Oakland, 94619 - 4 bed, 2 bath

4031 Penniman Ave, Oakland, California 94619 home-pic-0
ACTIVE$625,000
4031 Penniman Ave, Oakland, California 94619
4Beds
2Baths
1,450Sqft
3,590Lot

Price Vs. Estimate

The estimated value ($554,983.275) is $70,016.725 (11%) lower than the list price ($625,000). This property may be overpriced.

Key pros and cons

Top Pros:
Duplex Investment Potential: This property is a 2-unit duplex, offering significant income potential for investors or owner-occupiers looking to live in one unit and rent the other.
Top Cons:
Requires Significant Renovation: The property 'needs some TLC,' indicating a necessity for substantial updates, repairs, and capital investment.

Compared to the nearby listings

Price:$625.0K vs avg $920.0K ($-295,000)11%
Size:1,450 sqft vs avg 1,577.5 sqft46%
Price/sqft:$431 vs avg $6379%

More Insights

Built in 1954 (71 years old).
Condition: The property was built in 1954, making it 70 years old. The listing description explicitly states it 'needs some TLC' and is a 'perfect canvas to create your dream space,' which strongly indicates that substantial repairs and rehabilitation are required. The exterior image shows signs of age and deferred maintenance, including peeling paint and overgrown landscaping. Without interior photos, it's highly probable that the kitchen and bathrooms are severely outdated and require full renovation, consistent with a property of this age that has not undergone recent major renovations.
Year Built
1954
Close
-
List price
$625K
Original List price
$625K
Price/Sqft
$431
HOA
-
Days on market
-
Sold On
-
MLS number
41111583
Home ConditionPoor
Features
View-

About this home

Welcome to 4031 Penniman Ave, a rare investment opportunity in the heart of Oakland’s desirable Allendale neighborhood! This single-level 2-unit duplex features a total of 4 bedrooms and 2 bathrooms across 1,450 sq. ft., offering incredible potential for homeowners and investors alike. Each unit boasts spacious living areas and private backyard access, providing the perfect canvas to create your dream space. While the home needs some TLC, its prime location and competitive price make it a fantastic value in today’s market. Whether you’re looking to renovate and rent, live in one unit and rent the other, or maximize your ROI, this property is a must-see! Perfect for future ADU. With easy access to highways, BART, shopping, and restaurants, 4031 Penniman Ave offers both convenience and potential in one of Oakland’s up-and-coming areas. Don’t miss out on this chance.

Nearby schools

2/10
Allendale Elementary School
Public,•K-5•0.2mi
3/10
United For Success Academy
Public,•6-8•0.8mi
2/10
Bret Harte Middle School
Public,•6-9•1.0mi
4/10
Urban Promise Academy
Public,•6-8•1.2mi
2/10
Fremont High
Public,•9-12•0.9mi
4/10
Skyline High School
Public,•9-12•2.3mi
2/10
Oakland International High School
Public,•9-12•4.6mi
Condition Rating
Poor
The property was built in 1954, making it 70 years old. The listing description explicitly states it 'needs some TLC' and is a 'perfect canvas to create your dream space,' which strongly indicates that substantial repairs and rehabilitation are required. The exterior image shows signs of age and deferred maintenance, including peeling paint and overgrown landscaping. Without interior photos, it's highly probable that the kitchen and bathrooms are severely outdated and require full renovation, consistent with a property of this age that has not undergone recent major renovations.
Pros & Cons

Pros

Duplex Investment Potential: This property is a 2-unit duplex, offering significant income potential for investors or owner-occupiers looking to live in one unit and rent the other.
Prime Allendale Location: Situated in the heart of Oakland’s desirable Allendale neighborhood, known for its market appeal and community.
ADU Development Opportunity: The property is explicitly noted as 'perfect for future ADU,' presenting a substantial value-add and income-generating opportunity.
Excellent Accessibility: Offers convenient access to major highways, BART, shopping, and restaurants, enhancing its appeal for commuters and residents.
Private Outdoor Space: Each unit boasts private backyard access, a highly desirable amenity that adds to tenant/owner quality of life.

Cons

Requires Significant Renovation: The property 'needs some TLC,' indicating a necessity for substantial updates, repairs, and capital investment.
Subpar Local School Ratings: Several nearby public schools have low ratings (e.g., 2/10), which could be a deterrent for family buyers prioritizing school districts.
Property Age and Condition: Built in 1954, the age combined with the need for TLC suggests potential for outdated systems and higher ongoing maintenance costs.

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