1501 First Ave., Oakland, California 94606, Oakland, - bed, bath

home-pic
ACTIVE$1,080,000
1501 First Ave., Oakland, California 94606
0Bed
0Bath
Sqft
2,806Lot
Year Built
1924
Close
-
List price
$1.08M
Original List price
$1.08M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41115716
Home ConditionGood
Features
Good View:
View-

About this home

Perfectly positioned across from iconic Lake Merritt, this classic fourplex blends timeless 1920s charm with thoughtful modern upgrades. Each light-filled unit enjoys lake views, hardwood floors, formal dining room with built-in china cabinets, and spacious walk-in closet. The property has been beautifully maintained with a new roof, new sewer lateral, and updated plumbing. Each junior one-bedroom offers its own appeal: 1501 – Updated, freshly painted, new wall heater 1503 – Updated, refinished hardwood floors, new fixtures 1505 – New stove (not updated) 1507 – Fully remodeled kitchen and bathroom, refinished floors, new paint Two units are currently vacant, both have been renovated—ideal for an owner-occupant or to capture immediate market rents. With its unbeatable Lake Merritt location, vintage character, and key system improvements, this property is a rare opportunity for investors seeking both charm and long-term value.

Price History

Date
Event
Price
10/24/25
Listing
$1,080,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (18 Listings)
Beds00
Baths00
Square foot00
Lot Size2,8063,780
16%
Price$1.08M$899K
79%
Price per square foot$0$0
Built year19241914
68%
HOA
Days on market13182
5%
Condition Rating
Good

Despite being built in 1924, this fourplex has undergone significant and recent updates. The description highlights a new roof, new sewer lateral, and updated plumbing, which are crucial system improvements. Interiors feature refinished hardwood floors and fresh paint, making them move-in ready. While one unit boasts a 'fully remodeled kitchen and bathroom,' the kitchen shown in the images, though clean and functional with updated white shaker cabinets, white countertops, and white appliances, is not high-end and features dated terracotta-colored tile flooring. However, the overall property condition, with major system updates and renovated units, meets the criteria for 'Good' as it is move-in ready with no immediate major renovations required.
Pros & Cons

Pros

Prime Location & Views: Perfectly positioned across from iconic Lake Merritt, each unit offers desirable lake views, enhancing tenant appeal and property value.
Significant System Upgrades: The property boasts a new roof, new sewer lateral, and updated plumbing, reducing immediate capital expenditure for a new owner.
Income Potential & Flexibility: As a quadruplex with two vacant, renovated units, it offers immediate income generation or an ideal owner-occupancy opportunity with rental income.
Vintage Charm with Modern Touches: The classic 1920s architecture is complemented by thoughtful modern upgrades, hardwood floors, and built-in features, appealing to a broad market.
Desirable Unit Features: Each light-filled unit includes hardwood floors, a formal dining room with built-in china cabinets, and spacious walk-in closets, adding to tenant desirability.

Cons

Inconsistent Unit Modernization: While some units are updated or fully remodeled, at least one unit (1505) is noted as 'not updated' beyond a new stove, suggesting potential for further investment to standardize and maximize rents across all units.
Age-Related Maintenance Considerations: Built in 1924, despite significant system upgrades, the property's age may still entail ongoing maintenance and potential for unforeseen issues typical of older construction.
Limited Unit Size/Configuration: All units are described as 'junior one-bedroom,' which may limit the target tenant demographic and potentially the maximum achievable rental income compared to properties with larger or more diverse unit types.

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