7960 Macarthur Blvd, Oakland, California 94605, Oakland, 94605 - bed, bath
ACTIVE$549,000
7960 Macarthur Blvd, Oakland, California 94605
0Bed
0Bath
Sqft
6,250Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Mixed-Use Zoning: The property's mixed-use zoning offers exceptional versatility, allowing each of the four units to be used for either residential or commercial purposes, maximizing income potential and adaptability.
Top Cons:
Property Age: Built in 1936, the property is quite old, which may imply the need for significant updates to systems, infrastructure, and general maintenance to meet modern standards and tenant expectations.
Compared to the nearby listings
Price:$549.0K vs avg $720.0K ($-171,000)20%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1936 (89 years old).
Condition: Built in 1936, this property is very old and shows significant wear and tear. The kitchens feature outdated tiled floors, painted cabinets, and basic appliances, while bathrooms are extremely utilitarian with exposed plumbing, simple fixtures, and worn surfaces. The overall condition suggests a lack of significant renovation for many decades, requiring substantial repairs and rehabilitation to meet modern living standards. While functional, it appears uncomfortable and very dated.
Year Built
1936
Close
-
List price
$549K
Original List price
$698K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41097718
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!
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 is very old and shows significant wear and tear. The kitchens feature outdated tiled floors, painted cabinets, and basic appliances, while bathrooms are extremely utilitarian with exposed plumbing, simple fixtures, and worn surfaces. The overall condition suggests a lack of significant renovation for many decades, requiring substantial repairs and rehabilitation to meet modern living standards. While functional, it appears uncomfortable and very dated.
Pros & Cons
Pros
Mixed-Use Zoning: The property's mixed-use zoning offers exceptional versatility, allowing each of the four units to be used for either residential or commercial purposes, maximizing income potential and adaptability.
Significant Expansion Potential: With 3260 sq ft of currently unused space, there is substantial potential to create additional residential rental units or leasable commercial space, promising considerable future growth and increased revenue.
Income-Generating Quadruplex: As a fourplex, the property provides immediate rental income, making it an attractive opportunity for investors seeking cash flow from day one.
Substantial Price Reduction: The list price has been significantly reduced from $698,000 to $549,000, indicating a potentially undervalued asset and a more attractive entry point for buyers.
Oversized Garage/Workshop: The generously oversized 700 sqft garage/workshop adds valuable utility and flexibility, suitable for various uses from storage to additional business operations.
Cons
Property Age: Built in 1936, the property is quite old, which may imply the need for significant updates to systems, infrastructure, and general maintenance to meet modern standards and tenant expectations.
Current Underutilization: A large portion of the property (3260 sq ft) is currently unused, requiring substantial investment, planning, and effort to convert into income-generating residential or commercial space.
Low-Rated Nearby Schools: Several public schools in the immediate vicinity have low ratings (1-2 out of 5), which could be a deterrent for residential tenants with families and potentially impact long-term residential appeal.