533 31st Street, Oakland, California 94609, Oakland, 94609 - 5 bed, 3 bath
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Oakland, California 94609
This Multi-Unit Residential Asset is a High-Potential Investment Opportunity, listed at $899,000—positioned well below the $1,100,434 Fair Market Value by 18%. This valuation gap offers $201,434 in Instant Equity. Featuring a 3-bedroom main house and a 2019-built 2-bedroom ADU, the property provides significant rental income potential. While the main house holds a Condition Rating of 4, the finished basement and prime Pill Hill location offer immense value-add potential. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs.
Property is moderate renovation needed.
The property presents a split condition: a primary residence built in 1903 and a detached ADU built in 2019. While the ADU is in excellent condition, the main house shows significant dating with interiors, flooring, and fixtures appearing to be over 20 years old. The main living areas require modernization and likely system updates to match the quality of the newer secondary unit.
The property features a main 3-bedroom residence plus a detached, modern 2-bedroom ADU built in 2019, offering excellent opportunities for rental income, house hacking, or multi-generational living.
A finished basement provides significant additional space for a home office, gym, or creative studio, maximizing the utility of the 2,701 square foot floor plan.
Situated in the heart of Pill Hill, the property boasts exceptional connectivity to BART, major freeways, and the urban amenities of Downtown Oakland and Emeryville.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
Most of the assigned public schools for this address have low performance ratings, which may be a significant drawback for families prioritizing educational district quality.
With the main house dating back to 1903, buyers should anticipate the ongoing maintenance and potential system upgrades typically required for a historic property of this age.
Welcome to 533 31st Street — a rare North Oakland opportunity in the heart of the vibrant Pill Hill district! This versatile property delivers the perfect blend of classic charm, modern flexibility, and income-producing potential. The front residence features a spacious 3-bedroom, 2-bath layout with timeless character and functional living space, while the detached rear ADU, newly built in 2019, offers a stylish 2-bedroom, 1-bath setup ideal for extended family, guests, rental income, or multi-generational living. Need extra space? The finished basement adds valuable bonus space perfect for a home office, gym, media room, creative studio, or potential guest quarters. Endless possibilities await! Located in one of Oakland’s most connected neighborhoods, you’re just minutes from Downtown Oakland, Emeryville, BART, major freeways, shopping, restaurants, cafes, and everyday conveniences. A commuter’s dream with urban energy right outside your door. Whether you're an owner-occupant looking to offset your mortgage, an investor searching for strong rental potential, or a buyer seeking flexible living options — this property checks all the boxes. Live Smart. Earn More. Build Wealth in Oakland. Don’t miss your chance to own this unique multi-space property in one of Oakland’s hottest neighborhoods. Opportunities like this don’t come around often!
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades 2-5 • 1.1 mi
Grades K-5 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 88% |
| Baths | 3.0 | 2.0 | 69% |
| Square foot | 2,701 | 1,453 | 94% |
| Lot Size | 4,900 | 4,080 | 72% |
| Price | $899.0K | $1.24M | 25% |
| Price per sq ft | $333 | $798 | 6% |
| Built year | 1903 | 1912 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 23 | 115 | 3% |
May 14, 2026
$899,000
Initial Listing
Mar 22, 2019
$661,000
Public Record