875 56th Street, Oakland, California 94608, Oakland, - bed, bath
ACTIVE$749,000
875 56th Street, Oakland, California 94608
4Beds
2Baths
2,212Sqft
5,200Lot
Year Built
1910
Close
-
List price
$749K
Original List price
$749K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41067204
Home ConditionPoor
Features
Patio
View-
About this home
Calling all visionaries and Investors! Once a charming 4 bedroom, 2 bathroom home, this property now requires significant work to restore its former glory in North Oakland. With a generous 2212 sq ft of living space and a sprawling 5200 sq ft lot, this property offers the perfect canvas for your investment dreams.While the home itself requires a complete overhaul, its prime location and expansive lot size make it an incredible investment, this is your chance to breathe new life into the existing structure. Explore ADU or Multifamily Possibilities: This property is close to everything you need, Easy access to transportation, convenient proximity to shops, restaurants, and entertainment. Serious investors only. Sellers wanted the rendering photo to show what the home could look like (potentially)
Nearby schools
1/10
Sankofa Academy
Public,•PK-5•0.7mi
6/10
Malcolm X Elementary School
Public,•K-5•0.9mi
2/10
Emerson Elementary School
Public,•K-5•0.9mi
8/10
Peralta Elementary School
Public,•K-5•1.0mi
2/10
Hoover Elementary School
Public,•K-5•1.2mi
6/10
Leconte Elementary School
Public,•K-5•1.3mi
7/10
Washington Elementary School
Public,•K-5•1.9mi
6/10
John Muir Elementary School
Public,•K-5•1.9mi
7/10
Emerson Elementary School
Public,•K-5•1.9mi
5/10
Oxford Elementary School
Public,•K-5•3.3mi
7/10
Cragmont Elementary School
Public,•K-5•3.7mi
4/10
Anna Yates Elementary School
Public,•K-8•0.6mi
6/10
Claremont Middle School
Public,•6-8•1.2mi
8/10
Willard Middle School
Public,•6-8•1.6mi
2/10
Westlake Middle School
Public,•6-8•1.9mi
3/10
West Oakland Middle School
Public,•6-8•2.2mi
5/10
Emery Secondary School
Public,•9-12•0.5mi
2/10
Oakland International High School
Public,•9-12•0.8mi
7/10
Oakland Technical High School
Public,•9-12•1.2mi
3/10
Mcclymonds High School
Public,•9-12•1.6mi
8/10
Berkeley High School
Public,•9-12•2.0mi
2/10
Fremont High
Public,•9-12•5.7mi
Price History
Date
Event
Price
07/19/24
Listing
$749,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (52 Listings) | |
|---|---|---|---|
| Beds | 4 | 3 | 72% |
| Baths | 2 | 2 | 50% |
| Square foot | 2,212 | 1,320 | 85% |
| Lot Size | 5,200 | 3,600 | 81% |
| Price | $749K | $800K | 45% |
| Price per square foot | $339 | $553 | 15% |
| Built year | 1910 | 1911 | 49% |
| HOA | |||
| Days on market | 474 | 161 | 98% |
Condition Rating
Poor
Built in 1910, this property is in an unlivable condition, requiring a 'complete overhaul' as explicitly stated in the listing. Images reveal a severely deteriorated exterior with peeling paint and a completely gutted interior, lacking functional kitchen and bathroom fixtures, with crumbling walls and exposed elements. This indicates significant defects, extensive system replacements, and substantial rehabilitation are necessary, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Prime North Oakland Location: Situated in a desirable North Oakland neighborhood, offering excellent access to transportation, shops, restaurants, and entertainment, enhancing its long-term appeal.
Significant Investment/Value-Add Opportunity: Positioned as a 'canvas for investment dreams,' this property offers substantial potential for value appreciation through extensive renovation and modernization.
Expansive Lot Size: The generous 5200 sq ft lot provides ample space for potential expansion, outdoor amenities, or additional development.
ADU/Multifamily Development Potential: The property explicitly highlights possibilities for adding an Accessory Dwelling Unit (ADU) or converting to a multifamily residence, significantly increasing its income-generating potential.
Substantial Existing Footprint: With 2212 sq ft of living space, the existing structure offers a large foundation for a spacious home or multiple units once renovated.
Cons
Extensive Renovation Required: The property is described as needing 'significant work' and a 'complete overhaul,' indicating a substantial financial and time commitment for restoration.
Limited Buyer Pool: Marketed explicitly for 'serious investors only,' this property's condition narrows the potential buyer demographic, potentially affecting market time.
Age-Related Challenges: Built in 1910, the property likely presents age-related challenges such as outdated systems, potential structural issues, and the need for lead paint/asbestos abatement, adding to renovation complexity and cost.