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7960 Macarthur Blvd, Oakland, California 94605, Oakland, 94605 - 2 bed, 4 bath

7960 Macarthur Blvd, Oakland, California 94605 home-pic-0
ACTIVE$549,000
7960 Macarthur Blvd, Oakland, California 94605
2Beds
4Baths
2,560Sqft
6,250Lot

Price Vs. Estimate

The estimated value ($549,000) is $0 (0%) lower than the list price ($549,000). This property may be overpriced.

Key pros and cons

Top Pros:
Mixed-Use Zoning & Versatility: The property boasts unique mixed-use zoning, allowing each of its four units to be utilized for either residential or commercial purposes (retail/office), offering exceptional flexibility and diverse income potential.
Top Cons:
As-Is Sale Condition: The property is being sold in 'as-is' condition, which implies the buyer will be responsible for any necessary repairs, renovations, or upgrades, potentially requiring substantial upfront capital investment.

Compared to the nearby listings

Price:$549.0K vs avg $730.0K ($-181,000)23%
Size:2,560 sqft vs avg 1,419 sqft93%
Price/sqft:$214 vs avg $5113%

More Insights

Built in 1936 (89 years old).
Condition: Built in 1936, this property shows significant signs of age and deferred maintenance. The kitchens are extremely outdated, featuring worn laminate countertops, old appliances, damaged and dated cabinetry, and old linoleum flooring. One kitchen appears to be a makeshift, utilitarian setup with exposed plumbing and minimal features. Bathrooms are very basic and utilitarian, lacking modern fixtures or finishes. Throughout the property, flooring is a mix of worn hardwood and old carpet/linoleum. Lighting consists of basic ceiling fixtures and fluorescent tubes, and cooling is provided by window AC units. The 'As-Is' sale and requirement for cash or commercial loan strongly indicate that the property requires substantial repairs and rehabilitation to meet current living standards and functionality.
Year Built
1936
Close
-
List price
$549K
Original List price
$698K
Price/Sqft
$214
HOA
-
Days on market
-
Sold On
-
MLS number
41097556
Home ConditionPoor
Features
View-

About this home

A unique investment opportunity in the vibrant city of Oakland. This spacious 6250 sqft property offers incredible versatility due to its mixed-use zoning, allowing each of the four units to be used for either residential or commercial purposes such as retail or office space. In addition to the fourplex, the property includes a generously oversized 700 sqft garage/workshop, providing further flexibility. This property also holds significant potential for expansion. Currently, 2560 sqft is partially used as tenant and owner-occupied living space, with the remaining area offering the possibility of creating additional residential rental units or a substantial 3260 sq ft of leasable commercial space. Imagine the possibilities, the flexibility, and the profit potential this unique zoning can provide. This is a fantastic opportunity for both owner-occupiers and investors looking for immediate rental income and considerable future growth! Long Term Tenants to convey with sale. Three commercial spaces will be delivered vacant. Total actual rent: $1525/month ($1225 for the 2bd 1 bath.. $300 for the garage). As-Is sale. CASH or COMMERCIAL LOAN ONLY because of the mixed use zoning. Proforma for other units are $1000, $1000, and $1200 with potential CAP RATE of 6%

Nearby schools

3/10
Burckhalter Elementary School
Public,•K-5•0.8mi
4/10
Howard Elementary School
Public,•K-5•0.8mi
3/10
Parker Elementary School
Public,•K-8•0.1mi
2/10
Frick Middle School
Public,•6-8•1.1mi
1/10
Castlemont High
Public,•9-12•0.4mi
2/10
Fremont High
Public,•9-12•2.5mi
2/10
Oakland International High School
Public,•9-12•7.0mi
Condition Rating
Poor
Built in 1936, this property shows significant signs of age and deferred maintenance. The kitchens are extremely outdated, featuring worn laminate countertops, old appliances, damaged and dated cabinetry, and old linoleum flooring. One kitchen appears to be a makeshift, utilitarian setup with exposed plumbing and minimal features. Bathrooms are very basic and utilitarian, lacking modern fixtures or finishes. Throughout the property, flooring is a mix of worn hardwood and old carpet/linoleum. Lighting consists of basic ceiling fixtures and fluorescent tubes, and cooling is provided by window AC units. The 'As-Is' sale and requirement for cash or commercial loan strongly indicate that the property requires substantial repairs and rehabilitation to meet current living standards and functionality.
Pros & Cons

Pros

Mixed-Use Zoning & Versatility: The property boasts unique mixed-use zoning, allowing each of its four units to be utilized for either residential or commercial purposes (retail/office), offering exceptional flexibility and diverse income potential.
Significant Expansion Potential: There is considerable potential to expand the property by creating additional residential rental units or a substantial 3260 sq ft of leasable commercial space, promising future value appreciation and increased revenue.
Immediate Income & Vacant Units: The property offers immediate rental income from existing tenants, with three commercial spaces delivered vacant, providing the new owner with the opportunity to secure market-rate leases promptly.
Oversized Garage/Workshop: A generously sized 700 sqft garage/workshop provides additional functional space, which can be used for storage, personal projects, or potentially leased out for extra income.
Attractive Price Reduction: The property has seen a significant price reduction from its original list price of $698,000 to $549,000, making it a more competitive and potentially lucrative investment opportunity.

Cons

As-Is Sale Condition: The property is being sold in 'as-is' condition, which implies the buyer will be responsible for any necessary repairs, renovations, or upgrades, potentially requiring substantial upfront capital investment.
Limited Financing Options: Due to its mixed-use zoning, financing is restricted to cash or commercial loans only, significantly narrowing the pool of potential buyers and potentially complicating the acquisition process.
Below Market Current Rents: The current actual rental income of $1525/month is considerably low for a fourplex in Oakland, indicating that existing units are underperforming and will require active management to reach the projected proforma income.

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