MASSIVE flip/development opportunity in Oakland (Lakeshore Neighborhood). Straightforward opportunity to increase the liveable square footage by 800sqft. Plenty of room in the backyard for an ADU as well. Great bones, recent comps, and OVER 700K IN SPREAD make this a great flip. Contract ready to be assigned to cash and hard-money buyers only!

ARV: 2M

Asking Price: 1.295M

COE: 9/1/23

PROPERTY DETAILS

3/2 | 1629 Sqft | 5610 lot sqft | 1924 build | Detached Garage

Downstairs legal non-conforming 1/1 ~800sqft

Can be turned into a 4/3 ~ 2400 sqft SFH

SEE "DOCUMENTS" FOR ASSESSOR RECORDS

Rehab Level: The first two floors are relatively nice but the bottom unit needs to be framed. Main house- Medium, Downstairs area- Heavy

Foundation: It is two slabs. One on the top level and then the middle level that holds up the lobby and most of the middle of the house is on cement footings. Then there is another slab towards the back yard. 

Roof: Asphalt. Looks like it's in decent shape. No easily visible signs of deterioration

Electrical:  Main house- Replace as needed. Downstairs area- needs electrical

Plumbing: Some of the plumbing below was galvanized piping and may need to be replaced. Some was updated

HVAC: New

Water Heater: New

Other: Garage needs to be torn down. Falling apart and has violations.

See "documents" for zoning and permit history

There is plenty of room in the backyard for an ADU

Occupancy: Currently tenant occupied, will be delivered vacant

COE: 9/1/23

COMPS

864 Sunnyhills Rd Oakland, CA 94610 (6/30/23) $1.72M

• 4/3 | 2100 sqft | 12181 lot, fully remodeled, 1925 build
• Was UC in 21 days, sold in 28 days

759 Santa Ray Ave Oakland, CA 94610 (5/26/23) $2M

• 4/3 | 2300 sqft | 3300 sqft lot, 1925 build
• SAME STREET 1 BLOCK AWAY
• Was UC in 13 days, sold in 28 days

AVAILABLE FIRST COME FIRST SERVE. Non-refundable EMD of $40,000 required to lock it up

Showing by appointment

For all inquiries, please contact

Das Karciauskas

Das@pikehomebuyers.com

(916) 461-8541