8117 Ney Ave, Oakland, California 94605, Oakland, - bed, bath
ACTIVE$1,288,000
8117 Ney Ave, Oakland, California 94605
0Bed
0Bath
Sqft
9,750Lot
Year Built
1947
Close
-
List price
$1.29M
Original List price
$1.29M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41101874
Home ConditionGood
Features
Good View:
View-
About this home
Rare High-Income Producing four-unit complex with an additional 5th unit the main house on top of the parcel is vacant, making this great for Homeowners and Investors alike. Two Unit has been remodeled & Updated * Great Views from Some of the Units * Deep-Long Lot with off Street Parking * Seller might be interested in selling a few other properties in a bulk sale. All other Showings Through Appointment Only, contact listing agent for disclosures & financials. CAP Rate of {6.7%}, Proforma Cap {7.94%}
Nearby schools
4/10
Howard Elementary School
Public,•K-5•0.7mi
3/10
Burckhalter Elementary School
Public,•K-5•0.8mi
3/10
Parker Elementary School
Public,•K-8•0.2mi
2/10
Frick Middle School
Public,•6-8•1.2mi
1/10
Castlemont High
Public,•9-12•0.3mi
2/10
Fremont High
Public,•9-12•2.6mi
2/10
Oakland International High School
Public,•9-12•7.1mi
Price History
Date
Event
Price
06/18/25
Listing
$1,288,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (13 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 0 | 0 | |
| Lot Size | 9,750 | 5,298 | 86% |
| Price | $1.29M | $829K | 86% |
| Price per square foot | $0 | $0 | |
| Built year | 1947 | 9735975 | 50% |
| HOA | |||
| Days on market | 140 | 123 | 50% |
Condition Rating
Good
The property, built in 1947, has undergone significant recent renovations in at least two units, as stated in the description and evidenced by the images. The updated units feature modern kitchens with white shaker cabinets, butcher block countertops, subway tile backsplashes, and stainless steel appliances (in one unit), along with contemporary bathrooms showcasing new vanities, toilets, and large format marble-look shower tiles. Flooring in these units is modern LVP or hardwood-look laminate, and light fixtures are updated flush-mount styles. These renovations make the updated units move-in ready with no immediate repairs required, aligning with the 'Good' condition criteria, despite the overall age of the building.
Pros & Cons
Pros
High-Income Potential: The property is explicitly described as a 'Rare High-Income Producing' asset, supported by attractive CAP rates of 6.7% (current) and 7.94% (proforma), indicating strong return on investment potential.
Multi-Unit Configuration: Comprising a four-unit complex with an additional 5th main house, this property offers diversified rental income streams and significant scale for investors.
Vacant Main House: The main house is vacant, providing immediate flexibility for an owner-occupant to live rent-free while collecting income from other units, or for an investor to place a new tenant at current market rates.
Partial Modernization: Two of the units have been remodeled and updated, which can attract higher-quality tenants and command better rental prices for those specific units.
Valuable Lot Features: The property boasts a deep, long lot with off-street parking, a highly desirable amenity in urban areas like Oakland, enhancing tenant convenience and property value.
Cons
Property Age & Condition: Built in 1947, the property is an older asset, suggesting potential for deferred maintenance, outdated systems (plumbing, electrical), and higher capital expenditure requirements for the un-remodeled units.
Incomplete Remodeling: Only two units have been remodeled, implying that the remaining three units may require significant investment for updates to maximize their rental potential and tenant appeal.
Unit Count Discrepancy: Listed as a 'Quadruplex' but described as having a 'four-unit complex with an additional 5th unit', this discrepancy could indicate a non-conforming or unpermitted unit, potentially leading to legal or financial complications.