🔨✨ Prime Fix and Flip Opportunity in Oakland, CA 🏡💰 - Ideal Investment Property! 3 Bed 1 Bath with Livable Downstairs Basement! 😱

Alameda County, Oakland, CA, 94621
Sold
Listed at: July 23rd, 2024
Price
$389,000
ARV
$730,000
Gross Margin
$341,000
Sq. Footage
1176
Type
Single-Family
Parking
Driveway
Year build
1908
Lot size
0.12 acres
Bedrooms
3
Bathrooms
2
Half Bathrooms
0
Summary

This off-market property is a hidden gem, offering incredible potential for savvy investors. Currently classified as a single-family home, it has been cleverly utilized as a duplex, with each floor providing a separate living space. This layout is perfect for maximizing rental income or accommodating multi-generational living.

Why This Property is a Great Deal:

- Dual Rental Potential: With separate entrances and kitchens on each floor, you can generate rental income from two tenants, doubling your revenue stream.
- $37k Holdback Guarantee: This financial safety net provides security and peace of mind as you make improvements.

Value-Adding Opportunities:

- Interior and Exterior Updates: Modernize the interior spaces and improve the landscaping to significantly boost the property’s market value.
- Increase Living Space: The property’s actual living area is believed to be double the square footage listed in public records, as it features two stories instead of one, offering an excellent opportunity to capitalize on additional space.
- Customizable Features: With an unpermitted additional bathroom, you have the option to enhance the layout to suit your vision.

Additional Advantages:

- Convenient Parking: Includes a 1-car garage and driveway for hassle-free parking.
- No HOA Fees: Enjoy ownership without the burden of extra costs or restrictions.
- Permitted Basement Updates:** The first floor, considered a basement, has been updated with permits, providing a comfortable and legal living area.

This property presents a unique chance to invest in a versatile home with significant upside potential. Whether you're looking to flip for profit or generate steady rental income, this property is the perfect canvas for your investment goals. Don't miss out on this rare opportunity.

Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Teza Amiri

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Disposition manager