408 38th St, Oakland, California 94609, Oakland, 94609 - 0 bed, 0 bath
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Oakland, California 94609
This Craftsman-style duplex represents a Strong Value Opportunity, listed at $698,000—positioned well below the $780,719 Fair Market Value by 10%. This valuation gap offers $82,719 in Instant Equity. With a Condition Rating of 2, the property features a renovated, vacant lower unit and stable rental income from the upper unit. Its prime Mosswood/Temescal location and expansive lot provide significant long-term upside. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through supplemental rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 408 38th St Subject | $698,000* List Price | 0 | 0 | 2,011 | $388 | - |
A 2834 2834 Summit Street Sold | $815,000 | 0 | 0 | 1,986 | $410 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While built in 1920, the property has undergone significant recent renovations. The lower unit features a modern kitchen with white shaker cabinets, stainless steel appliances, and updated flooring/lighting consistent with a <5-year-old renovation. The exterior is recently painted, and the interior shows recessed lighting and high-quality finishes, making it move-in ready with no immediate maintenance required.
The vacant and updated lower 2-bedroom unit allows for immediate move-in, providing a perfect opportunity for a buyer to live in one unit while using the upper unit's rental income to offset mortgage costs.
Situated in a highly sought-after neighborhood near vibrant dining, shopping, and commuter hubs, the property ensures strong long-term appreciation and high tenant demand.
The property features a rare expansive outdoor space, a vacant detached garage, and off-street parking, offering functional benefits and privacy seldom found in comparable urban duplexes.
The upper unit is currently occupied at $1,800 per month, which may be below current market rates for the area, potentially limiting immediate cash flow for investors.
The assigned elementary schools carry low ratings (2/10), which could be a deterrent for families with young children and may impact future resale value to that specific demographic.
Open House May 30th & 31st. 1:00 PM - 4:00 PM. Offers due on June 3rd by noon. Located in Oakland’s highly desirable Mosswood neighborhood on the border of Temescal, 408 38th Street is a charming Craftsman-style duplex offering an exceptional opportunity for both owner-occupants and investors. The upper unit is occupied at $1,800/month, providing stable in-place income and an attractive setup for buyers looking to offset ownership costs. Additional property features include a detached garage delivered vacant, off-street parking, in-unit laundry, and an expansive outdoor space rarely found in comparable duplex properties. The recently painted exterior further enhances the curb appeal and overall presentation of this well-maintained asset. Positioned just moments from Temescal’s vibrant dining, shopping, cafes, and commuter amenities, 408 38th Street presents a rare combination of character, functionality, and long-term upside. Whether for an owner-user seeking supplemental rental income or an investor targeting a highly desirable Oakland location, the property offers strong lifestyle appeal and excellent future potential.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 0.7 mi
Grades 6-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,011 | 2,461 | 25% |
| Lot Size | 5,000 | 4,205 | 70% |
| Price | $698.0K | $930.0K | 20% |
| Price per sq ft | $347 | $340 | 55% |
| Built year | 1920 | 1918 | 55% |
| HOA | $0 | $0 | 50% |
| Days on market | 26 | 128 | 5% |
May 19, 2026
$698,000
Initial Listing
Sep 8, 2020
$5,500
Public Record