
Oakland, California 94609
This Multi-Unit Compound represents a Strong Value Opportunity, listed at $1,095,000—positioned well below the $1,186,749 Fair Market Value by 7%. This valuation gap provides $91,749 in Instant Equity. With a Condition Rating of 4, the property requires minor updates to modernize its vintage charm. The 7,000 sqft lot and flexible unit configuration offer significant income potential. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, income-generating property in the heart of Temescal.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4987 Shafter Avenue Subject | $1,095,000* List Price | 4 | 4 | 2,452 | $484 | - |
A 574 574 Aileen St Sold | $850,000 | 4 | 2 | 2,206 | $385 | 0.5 mi |
B 464 464 42nd St Sold | $900,000 | 0 | 0 | 2,000 | $450 | 0.4 mi |
C 731 60th Street Pending | $1,395,000 List Price | 4 | 3 | 2,697 | $517 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1918, the property is well-maintained but largely dated. While one bathroom has been modernized, the kitchens feature vintage appliances and older cabinetry. The presence of a non-conforming unit and at least one bathroom showing unfinished/deteriorated conditions (Image 9) indicates the need for minor repairs and system updates typical of a 20+ year renovation cycle.
The property features two separate Craftsman homes plus two additional guest apartments, offering exceptional flexibility for rental income, multigenerational living, or a live-work compound.
Situated in a highly walkable neighborhood, the home is just moments from BART, the Temescal Farmers’ Market, and the vibrant Telegraph and College Avenue corridors.
The oversized 7,000 sqft lot includes a producing fruit orchard, mature coastal redwood, and multiple garden spaces, providing a rare level of outdoor privacy and tranquility for the area.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2452, other record living area = 1725. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 6.
The rear cottage includes a non-conforming one-bedroom apartment, which may present challenges regarding legal occupancy, future permitting, or specific financing requirements.
While the property is zoned for the well-regarded Oakland Technical High School, the assigned elementary and middle schools currently have low ratings, which may deter education-focused buyers.
Two Craftsman homes, one oversized lot, and a rare opportunity to create the kind of flexible East Bay lifestyle that’s becoming harder and harder to find. Tucked into the heart of Temescal, this soulful compound unfolds through gardens, orchard paths, and outdoor gathering spaces. A producing orchard of orange, plum, quince, and fig trees threads through the property, leading toward a magical rear courtyard strung with lights beneath a towering coastal redwood that has likely stood here longer than much of the neighborhood around it. The grounds invite long dinners outdoors and afternoons in the garden. Both homes are currently configured with attached private guest apartments, creating exceptional flexibility for multigenerational living, income, guests, creative workspaces, or future reimagining across the 2452 square feet. The front home (2BD/1BA + Studio/1BA Apartment) welcomes you with a gracious porch before opening into a bright living room with crown molding and hardwood floors that extend throughout the home. Two airy bedrooms share an updated bath, each with its own private access. The eat-in kitchen balances charm and personality with original built-ins, a walk-in pantry, and bold patterned floors. A separate entrance leads to the self-contained studio apartment, filled with natural light and connected to a full-height basement bonus space offering additional flexibility and storage. Toward the rear of the property, the second home (1BD/1BA + 1BD/1BA) is a classic redwood-shingled cottage with a distinctly romantic feel. Mullioned picture windows fill the living room with soft light, hardwood floors flow beneath an arched opening into the dining room, and the upstairs bedroom opens to a private balcony overlooking the gardens below. A vintage range anchors the kitchen with just the right amount of nostalgia. Downstairs, a non-conforming 1-bedroom apartment creates even more opportunity. A pergola draped in cascading bougainvillea, patios, raised garden beds, and multiple outdoor seating areas complete the property, along with off-street parking for several vehicles and expansion potential still to explore. Just moments from BART, the Temescal Farmers’ Market, and the vibrant Telegraph and College Avenue corridors, this is a property that offers not only flexibility and income potential, but a deeply rooted sense of place.
No exterior & parking available.
Grades K-5 • 0.1 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 | 4.0 | 3.0 | 75% |
| Baths | 4.0 | 2.0 | 91% |
| Square foot | 2,452 | 1,453 | 88% |
| Lot Size | 7,000 | 4,080 | 91% |
| Price | $1.09M | $1.24M | 34% |
| Price per sq ft | $447 | $798 | 16% |
| Built year | 1918 | 1912 | 69% |
| HOA | $0 | $0 | 50% |
| Days on market | 24 | 115 | 3% |
May 13, 2026
$1,095,000
Initial Listing