551 Merritt Avenue 1, Oakland, California 94610, Oakland, 94610 - 2 bed, 2 bath
551 Merritt Avenue 1
Oakland, California 94610
Property Price
SUMMARY
Analysis of 551 Merritt Avenue 1, Oakland, California 94610 is currently available with a list price of $698,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Oakland Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is move-in ready and features an updated kitchen with stainless steel appliances and stone countertops. While built in 1997, the unit has been well-maintained with modern hard-surface flooring, refreshed bathrooms, and contemporary recessed lighting, showing minimal wear and tear and no immediate need for renovation.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Walkable Location
Situated just one block from Lake Merritt in the desirable Ivy Hill neighborhood, this property offers exceptional access to top-tier dining, Trader Joe's, and the Grand Lake Farmers Market.
- Expansive Living Space
With 1,584 square feet of living area, this corner unit is significantly larger than the average two-bedroom condo, providing a spacious open floor plan and a private primary suite.
- Low Association Fees
The monthly HOA fee of $300 is remarkably competitive for a unit of this size in Oakland, offering better long-term affordability compared to similar luxury developments.
CONSRISKS & DEFICIENCIES
- Pricing Volatility
The listing history shows multiple price adjustments and fluctuations, which may indicate initial overpricing or difficulty in securing a stable buyer in the current market.
- Aging Infrastructure
Built in 1997, the building is approaching a 30-year milestone where major systems and common area components may soon require more frequent maintenance or capital improvements.
About 551 Merritt Avenue 1
Discover this spacious 2BD/2BA condo offering 1,584 sq ft (per public record) of light-filled living in Oaklands' sought-after Ivy Hill neighborhood. Enjoy gorgeous views, abundant natural light on the balcony. This desirable corner unit boasts a modern open floor plan with expansive living and dining areas, an updated kitchen, in-unit laundry, ample storage, and a dedicated parking space. The primary suite features a walk-in closet and private en-suite bath, while the second bedroom offers flexibility for guests or a home office. Located just one block from Lake Merritt, you'll enjoy easy access to favorite neighborhood destinations, including Grand Lake Kitchen, Arizmendi, Lake Chalet, and Shakewell. Conveniently close to Trader Joe's, Whole Foods, and the Grand Lake Farmers Market. For commuters, the home offers quick access to I-580, I-880, Hwy 24, and Lake Merritt/19th St BART. Live in the heart of Oakland with the perfect blend of space, style, and walkable convenience!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1997
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $300.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,584 | 964.5 | 91% |
| Lot Size | - | 17,192 | 11% |
| Price | $698.0K | $460.0K | 86% |
| Price per sq ft | $441 | $487 | 36% |
| Built year | 1997 | 1971 | 93% |
| HOA | $300.0 | $616 | 2% |
| Days on market | 201 | 194 | 59% |
Pricing History
Listed for Sale
Jan 9, 2026
$698,000
$688,000
+1% Price Increase
Initial Listing
Price Change
Jan 7, 2026
$688,000
$698,000
-1% Price Drop
Initial Listing
Price Change
Nov 7, 2025
$698,000
$725,000
-4% Price Drop
Initial Listing
Price Change
Aug 18, 2025
$725,000
Initial Listing