515 42nd St, Oakland, California 94609, Oakland, 94609 - bed, bath
ACTIVE$1,380,000
515 42nd St, Oakland, California 94609
0Bed
0Bath
Sqft
6,900Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Quadruplex: As a 4-unit residential income property, it offers a robust investment opportunity with multiple revenue streams, appealing to investors seeking consistent cash flow.
Top Cons:
Advanced Age of Building: Constructed in 1946, the property is nearly 80 years old, suggesting potential for significant capital expenditures on major systems (plumbing, electrical, roof) and general modernization.
Compared to the nearby listings
Price:$1.38M vs avg $975.0K (+$405,000)80%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1946 (79 years old).
Condition: Built in 1946, the property's exterior appears maintained. However, the interior images, particularly of the kitchen and bathroom, reveal significantly outdated styles and features. The kitchen has older wooden cabinets, laminate countertops, and basic white appliances, while the bathroom features a dated vanity and standard tile. These elements suggest renovations or updates that are likely 15-30 years old, making the property functional but in need of minor updates to meet current aesthetic and quality standards. It is not in disrepair but shows clear signs of age in its finishes and fixtures.
Year Built
1946
Close
-
List price
$1.38M
Original List price
$1.6M
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41042676
Home ConditionFair
Features
View-
About this home
Owner of 4 unit residential income has decided to sell his beautiful building after 19 years. Each of the units is one bedroom and each unit has its own washer and dryer, each unit comes with a parking space.
Nearby schools
2/10
Emerson Elementary School
Public,•K-5•0.5mi
2/10
Piedmont Avenue Elementary School
Public,•K-5•0.9mi
2/10
Westlake Middle School
Public,•6-8•1.1mi
6/10
Claremont Middle School
Public,•6-8•1.3mi
2/10
Oakland International High School
Public,•9-12•0.3mi
7/10
Oakland Technical High School
Public,•9-12•0.6mi
2/10
Fremont High
Public,•9-12•4.9mi
Condition Rating
Fair
Built in 1946, the property's exterior appears maintained. However, the interior images, particularly of the kitchen and bathroom, reveal significantly outdated styles and features. The kitchen has older wooden cabinets, laminate countertops, and basic white appliances, while the bathroom features a dated vanity and standard tile. These elements suggest renovations or updates that are likely 15-30 years old, making the property functional but in need of minor updates to meet current aesthetic and quality standards. It is not in disrepair but shows clear signs of age in its finishes and fixtures.
Pros & Cons
Pros
Income-Generating Quadruplex: As a 4-unit residential income property, it offers a robust investment opportunity with multiple revenue streams, appealing to investors seeking consistent cash flow.
Individual Unit Amenities: Each unit is equipped with its own washer/dryer and a dedicated parking space, highly desirable features that enhance tenant appeal, retention, and potential rental income.
Attractive Price Reduction: The property has seen a significant price drop from its original list price of $1.6M to $1.38M, potentially offering a more competitive and attractive entry point for buyers.
Stable Ownership History: Owned by the same individual for 19 years, this often indicates a well-maintained asset and a stable investment history, which can be reassuring to prospective buyers.
Desirable 1-Bedroom Configuration: All units being 1-bedroom caters to a broad and consistently high-demand segment of the rental market in urban areas like Oakland, ensuring strong occupancy potential.
Cons
Advanced Age of Building: Constructed in 1946, the property is nearly 80 years old, suggesting potential for significant capital expenditures on major systems (plumbing, electrical, roof) and general modernization.
Market Price Adjustments: The history of multiple price reductions from $1.6M to $1.38M indicates a struggle to meet market expectations, potentially signaling overvaluation or a need for further price negotiation.
Undisclosed Condition/Renovations: The description lacks information regarding recent renovations or updates, which, combined with the building's age, implies units may be dated and require substantial investment to achieve market-rate rents and attract premium tenants.