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551 Merritt Avenue 1, Oakland, California 94610, Oakland, 94610 - 2 bed, 2 bath

551 Merritt Avenue 1, Oakland, California 94610 home-pic-0
ACTIVE$698,000
551 Merritt Avenue 1, Oakland, California 94610
2Beds
2Baths
1,584Sqft
Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Location & Walkability: Situated just one block from Lake Merritt in the sought-after Ivy Hill neighborhood, offering exceptional walkability to popular dining spots, grocery stores (Trader Joe's, Whole Foods), and the Grand Lake Farmers Market.
Top Cons:
Monthly Association Fee: A monthly association fee of $300 adds to the ongoing cost of ownership, which may be a consideration for some buyers.

Compared to the nearby listings

Price:$698.0K vs avg $440.0K (+$258,000)87%
Size:1,584 sqft vs avg 937 sqft91%
Price/sqft:$441 vs avg $49526%

More Insights

Built in 1997 (28 years old).
Condition: Built in 1997, this property is 27 years old. While the description mentions an 'updated kitchen,' the images reveal white appliances, tile countertops, and dated tile flooring, suggesting an update that is likely 15-20+ years old rather than recent. The second bathroom also features a dated vanity and tile. The primary bathroom is in better condition but not fully modern. The property appears well-maintained overall, but many key components, especially in the kitchen and secondary bath, show signs of being outdated and would require minor to moderate updates to meet current aesthetic standards.
Year Built
1997
Close
-
List price
$698K
Original List price
$725K
Price/Sqft
$441
HOA
$300
Days on market
-
Sold On
-
MLS number
ML82018488
Home ConditionFair
Features
Good View:
Deck
View-

About this home

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!

Condition Rating
Fair
Built in 1997, this property is 27 years old. While the description mentions an 'updated kitchen,' the images reveal white appliances, tile countertops, and dated tile flooring, suggesting an update that is likely 15-20+ years old rather than recent. The second bathroom also features a dated vanity and tile. The primary bathroom is in better condition but not fully modern. The property appears well-maintained overall, but many key components, especially in the kitchen and secondary bath, show signs of being outdated and would require minor to moderate updates to meet current aesthetic standards.
Pros & Cons

Pros

Prime Location & Walkability: Situated just one block from Lake Merritt in the sought-after Ivy Hill neighborhood, offering exceptional walkability to popular dining spots, grocery stores (Trader Joe's, Whole Foods), and the Grand Lake Farmers Market.
Excellent Commuter Access: Provides quick and convenient access to major freeways (I-580, I-880, Hwy 24) and BART stations (Lake Merritt/19th St), ideal for Bay Area commuters.
Spacious & Modern Living: A generous 1,584 sq ft corner unit featuring a modern open floor plan, expansive living/dining areas, an updated kitchen, and abundant natural light, enhancing comfort and appeal.
Desirable In-Unit Amenities: Includes practical features such as in-unit laundry, ample storage, a dedicated parking space, and a primary suite with a walk-in closet and private en-suite bath.
Views & Natural Light: The condo boasts gorgeous views and abundant natural light, particularly from the balcony, creating a bright and inviting living environment.

Cons

Monthly Association Fee: A monthly association fee of $300 adds to the ongoing cost of ownership, which may be a consideration for some buyers.
Recent Price Reduction: The property has undergone a recent price reduction from $725,000 to $698,000, which could indicate a need for quicker sale or that the initial pricing was above market expectations.
No Mention of Cooling System: The description does not specify the presence of a cooling system (e.g., air conditioning), which could be a drawback during warmer months in Oakland.

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