515 28th St, Oakland, California 94609, Oakland, 94609 - 0 bed, 0 bath
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Oakland, California 94609
This High-Potential Investment Opportunity is a Residential Income Triplex listed at $789,000, positioned well below the $707,339 Fair Market Value by 11%. Featuring a Condition Rating of 5, this asset requires significant renovation to unlock its full potential. The property offers a large 9,280 sqft lot with a deck and patio, providing excellent space for value-add improvements. Located in the high-demand Pill Hill medical district, this is an ideal acquisition for Buy-and-Hold Investors or Contractors seeking a strategic, long-term income-generating asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 515 28th St Subject | $789,000* List Price | 0 | 0 | 3,131 | $271 | - |
A 717 717 Brockhurst St Sold | $725,000 | 0 | 0 | 2,218 | $327 | 0.4 mi |
B 675 Brockhurst St Sold | $687,782 | 0 | 0 | 2,684 | $256 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1904, this triplex is explicitly marketed as a 'value-add' and 'renovation-minded' opportunity requiring a contractor. While several listing photos are AI-enhanced illustrative concepts, the actual condition photos show a dated bathroom with a clawfoot tub and old fixtures. The description's focus on 'repositioning' and 'upside potential' confirms the need for a significant rehab of systems and interiors.
The property can be delivered vacant, providing a rare opportunity for investors to immediately begin renovations and implement a market-rate leasing strategy without tenant-related restrictions.
Situated in the Pill Hill neighborhood near Kaiser and Alta Bates/Summit medical facilities, the location ensures high rental demand from healthcare professionals and easy access to BART and Uptown Oakland.
With over 3,100 square feet of living space on an oversized 9,280 square foot lot, there is substantial room for reconfiguration, modernization, or potential expansion to maximize the asset's yield.
The property is positioned as a major renovation project requiring a contractor and significant investment to address its current condition and realize the 'illustrative' potential shown in marketing.
Most assigned public schools, including the local elementary and middle schools, have low ratings (2/10), which may limit the property's appeal to long-term family tenants.
Rare value-add TRIPLEX OPPORTUNITY in Oakland's Pill Hill neighborhood. 515 28th Street offers investors, owner-users, and renovation-minded buyers the chance to reposition a multi-unit property with classic East Bay character and clear upside potential. The property can be delivered vacant, creating flexibility for renovations, and future leasing strategy. With thoughtful improvements, this triplex could become a strong long-term income asset, a compelling house-hack opportunity, or a generational hold in a central Oakland location.Pill Hill is known for its convenient access to Uptown, Downtown Oakland, Temescal, Lake Merritt, BART, Kaiser, Alta Bates/Summit medical facilities, shopping, dining, and major commuter routes. This location supports strong rental demand and offers proximity to many of the amenities tenants and owners value most. Bring your contractor, your vision, and your investment strategy. NOTE: Some AI-Enhanced Images Depicting Possible Renovation Potential Illustrative Concept Only - Buyer to Verify Existing Condition.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades 2-5 • 1.0 mi
Grades K-5 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 3,131 | 2,547 |
| Lot Size | 9,280 | 4,475 |
| Price | $789.0K | $860.2K |
| Price per sq ft | $252 | $344 |
| Built year | 1904 | 1920 |
| HOA | $0 | $0 |
| Days on market | 41 | 56 |
Jun 11, 2026
$789,000
Initial Listing