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748 Clara Street, Oakland, California 94603, Oakland, 94603 - bed, bath

748 Clara Street, Oakland, California 94603 home-pic-0
ACTIVE UNDER CONTRACT$749,000
748 Clara Street, Oakland, California 94603
0Bed
0Bath
3,442Sqft
6,250Lot
Year Built
1964
Close
-
List price
$749K
Original List price
$749K
Price/Sqft
$218
HOA
-
Days on market
78 Days
Sold On
2025-12-30
MLS number
ML82024689
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $749.0K(57th), sqft - 3442(86th), beds - undefined(50th), baths - undefined(50th).

CASH COW WITH $7875.00/MONTH GROSS INCOME, Tenants are long term residents in the Building. Stabilized income is a haul mark feature of the Property. Located in a GOOD neighborhood and CLOSE to FREEWAYS. New exterior Paint. Additional 5th Unit is Built by previous owner and permits are unknown with income of $875.00. So its a Fifer- five unit property. Any outstanding issues will be the responsibility of the owner with tenants and will be dealt before COE. Property Manager lives in one of the units and is a Licensed Contractor, takes care of the Maintenance of the Property too. Very matured and hard working Families who pays in time and well behaved too. At a fraction of the per square feet price with the Stabilized Income, this property has inbuilt value with an average commute times of 35-45 minutes from Bay Area/ Silicon Valley. Send offers- subject to inspection , Seller is motivated, offers as they come in. Please DO NOT Disturb Tenants.

Nearby schools

3/10
Brookfield Elementary School
Public,•K-5•0.4mi
3/10
Madison Park Academy 6-12
Public,•6-12•0.9mi
1/10
Castlemont High
Public,•9-12•1.8mi
2/10
Fremont High
Public,•9-12•2.8mi
2/10
Oakland International High School
Public,•9-12•7.7mi

Price History

Date
Event
Price
10/13/25
Listing
$749,000
Condition Rating
Poor
The property was built in 1964, making it 60 years old. While the exterior has new paint, the interior images reveal significantly outdated kitchens and bathrooms with original or very old cabinetry, laminate countertops, older appliances (some mismatched), and basic, worn tile or laminate flooring. The popcorn ceilings, wall-mounted heaters, and general wear and tear throughout indicate a lack of major renovations in the last 30-50 years. The overall condition suggests substantial repairs and rehabilitation are needed to meet modern living standards, aligning with a 'poor' rating.
Pros & Cons

Pros

Strong Cash Flow: The property generates a significant gross monthly income of $7,875, explicitly described as a 'cash cow,' indicating strong investment potential and attractive returns.
Stable Tenancy: Benefits from long-term, reliable tenants described as 'matured and hard working families who pay in time,' ensuring consistent income and reduced vacancy risk.
On-site Management & Maintenance: An on-site property manager, who is also a licensed contractor, handles maintenance, providing efficient and potentially cost-effective property oversight.
Strategic Location: Located in a 'good neighborhood' with excellent freeway access, offering convenient commute times to the Bay Area/Silicon Valley, which enhances tenant desirability.
Recent Exterior Upgrade: Features new exterior paint, indicating recent investment in curb appeal and basic property maintenance.

Cons

Unpermitted Unit Risk: The property includes an additional 5th unit with unknown permits, posing significant legal, financial, and compliance risks for a new owner.
Property Type Discrepancy: Listed as a 'Quadruplex' but operating as a five-unit property due to the unpermitted unit, creating a legal and classification inconsistency that could impact financing or insurance.
Implied Outstanding Issues: The seller's commitment to deal with 'any outstanding issues' before COE suggests potential undisclosed problems that require thorough due diligence and could complicate the transaction.

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