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1524 7Th Ave Oakland, CA 94606

$968,888 Sold Price as of 07/14/2022

-- Beds
-- Baths
-- Sq.Ft.

Sold

$968,888 Sold Price as of 07/14/2022 Refinance Your Mortgage

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Map preview of 1524 7Th Ave, Oakland, CA 94606

Property Overview: 1524 7Th Ave Oakland, CA has -- bedrooms, -- bathrooms, -- living square feet and 8,315 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 7 units near Lake Merritt and Downtown Oakland that can be bought for only $1.2MM using residential financing?—No, it’s NOT too good to be true. Introducing 1518 and 1524 7th avenue, a pair of multifamily properties owned by the same family since 1946 that share a common gated entry and walkway. The first (1518) is a 1,364 sq. ft. duplex, which consists of 2, 1BR/1BA units. The second (1524) is a 3,876 fourplex that includes 2, 1BR/1BA units, 1, 3BR/1BA unit, 1, 4BD/1BA unit and a non-conforming 1BR/1BA cottage. Best of all?—Additional space in the rear of the two lots presents a clear ADU development opportunity. Located in Oakland’s Clinton neighborhood, these properties offer prospective investors much in the way of long-term value. Not only are the current rents below market rate, but the area is seeing a resurgence of renter interest due to its exceptional restaurants, abundant green spaces, and proximity to key commuter thoroughfares such as Interstate 880.

Listed by Joey Wang | BRE #01890931 | Keller Williams Realty

Last checked: 13 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 30

Home details

Lot Sq. Ft: 8,315
HOA Dues: $0/mo
Year built: 1895
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 40988149
City: Oakland
County: Alameda
Time on Site: 748 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 7
Total # of Buildings: --

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 0%
Gross Rent Multiplier: --
Gross Scheduled Income: $80,040
Net Operating Income: $0
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: --
Professional Management: $0
Other Expenses: $0

Property Details for 1524 7Th Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

Has Heating
Natural Gas, Wall Furnace

Laundry Information

Has Laundry

Kitchen Information

Has Appliances
Gas Water Heater

Exterior Features

Exterior Information

Roof: Shingle

Lot Details / Garage and Parking

Property Information

Total # of Units: 7
Parcel Number: 2017519

Location / Neighborhood

Location Information

Directions: International Blvd, left on 7th Cross Street: E 15th St.

View more facts & features

Local Oakland Agent

Sale History for 1524 7Th Ave

Last sold for $968,888 on July 14th, 2022

July, 2022
Jul 14, 2022

Date

Sold

CRMLS: 40988149

$968,888

Price
Apr 8, 2022

Date

Active

CRMLS: 40988149

$1,200,000

Price
July, 2022
Jul 14, 2022

Date

Sold

CRMLS: 40988141

$618,888

Price
Apr 8, 2022

Date

Active

CRMLS: 40988141

$800,000

Price
Listing provided courtesy of CRMLS

1524 7th Avenue is offered together with 1518 7th Avenue. Seller prefers to combine the sale of 1524 with 1518. As a fourplex, 1524 7th avenue is unique amongst its peers—not only does it feature ADU potential, but it also includes a non-conforming fifth unit (1BR/1BA back cottage) to go with the other four units (2 - 1BR/1BA, 1 - 3BR/1BA, 1 - 4BR/1BA). Offered at $800K, this property is a proverbial “steal” by Bay Area standards, and will give any investor a strong foothold in the gentrifying part of Oakland (Clinton). Known for its fantastic ethnic cuisine and ample green space, the Clinton neighborhood offers prospective renters much in the way of convenience (access Downtown Oakland, Alameda, or Lake Merritt in less than 10 minutes) and quality of life. This property shares a gated entry and common walkway with another multifamily property—1518 7th avenue—which is also for sale (both properties have been owned by the same family since 1946).

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November, 2002
Nov 19, 2002

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1524 7Th Ave

Assessed Value (2020): $73,302

Year	Land Value	Improved Value	Assessed Value
2020	$53,446	$19,856	$73,302

Home Value Compared to the Market

This property vs the competition

1524 7Th Ave sold on July 14, 2022 for 33.33% higher than the current median sold price for the city of Oakland which is $900,000.

About 1524 7Th Ave

Detailed summary of property

1524 7Th Ave is a multi family that recently sold in Oakland, CA 94606. This multi family property offered -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 8,315 square foot lot. 1524 7Th Ave was first listed on ArdentRealEstateGroup.com on April 8, 2022. The homeowner sold the property for $968,888. Home in Oakland are selling for a median price of $900,000 and a median price per square foot of $607. Based on Ardent Real Estate Group's Oakland Market Data, this home is sold 33.33% higher than the current median priced home. Local homes that are currently for sale include 1430 S Orange Dr, 5435 Smiley Dr and 1211 N Normandie Ave. While the average home in Oakland, CA is selling in 83 days, 1524 7Th Ave has a days on market of 30 days. There are currently 877 homes for sale in the Oakland real estate market and 615 of them are single family homes while 239 of them are condos and 21 are townhomes. For more information on this home for sale at 1524 7Th Ave Oakland, CA 94606 contact Ardent Real Estate Group and we will put you in touch with one of our Oakland agents.

Public Facts for 1524 7Th Ave

Public county record property details

Beds: 7
Baths: 4
Year built: 1890
Sq. Ft.: 3,876
Lot Size: 4,500
Stories: 2

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Alameda
Lot#: --
APN: 20-175-19

The source for these homes facts are from public records.

94606 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$688,888

Median List Price/Sq.Ft.

$551

Median Sold Price

$810,500

Median Sold Price/Sq.Ft.

$545

Total Inventory

Median Sale to List Price %

101.44%

Avg Days on Market

Loan Type

Conventional (75%), FHA (0%), VA (0%), Cash (0%), Other (25%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.