Oakland, CA 94606,2417 Ivy Dr
Oakland, CA 94606,2417 Ivy Dr
Oakland, CA 94606,2417 Ivy Dr
60
$1,400,000
$1,400,000
Est.Price: ?

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6,407 Sqft Lot

2417 Ivy Dr Oakland, CA 94606

Est. payment /mo
SOLD DATE : 08/20/2024

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Key Details

Sold Price $1,400,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Ivy Hill

MLS Listing ID 41062486

Sold Date 08/20/24

HOA Y/N No

Year Built 1941

Lot Size 6,407 Sqft

Property Description

Welcome to 2417 Ivy Drive, a classic 1940s five-unit building with a ton of charm and period details located in Oakland’s Ivy Hill close to Lake Merritt. This three-story well-maintained building consists of five large residential units (830 average SF per unit) over a laundry room and basement area approved (but expired) for a sixth unit expansion. All five units feature hardwood floors and are tenant-occupied, and in addition to the approved sixth unit within the building’s envelope a feasibility study states that two ADUs can potentially be built in the large backyard to extend this property to eight units total. All units are 2BD/1BA with living rooms and separate dining areas. Gross monthly rent is $10,611. LOW price per unit ($280,000/unit) and square foot ($337/SF) with accompanying 18% upside in rents (current cap rate 5.14%). Units are separately metered for PG&E. The location can't be beat - no car is necessary here with a walk score of 86. 1.5 miles to Lake Merritt BART; a little over a half mile to Lucky supermarket and beautiful Lake Merritt; and easy access to all the popular bars, restaurants and venues of Downtown, Uptown and the Grand Lake Ave/Lakeshore Ave district. Views: Downtown

Location

State CA

County Alameda

Zoning RU-2

Interior

Heating Electric, Floor Furnace, Natural Gas

Cooling See Remarks

Fireplace No

Appliance Gas Water Heater, Dryer, Washer

Exterior

Roof Type Tar/Gravel

Total Parking Spaces 4

Building

Lot Description Sloped Down

Others

Tax ID 223387

Financing Conventional

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California Regional MLS (CRMLS)
Listed by Joshua Silverman • Real Brokerage Technologies
Bought with Yulanda Ong • Yulanda Ong Broker

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Kimber Wuerfel

Team Leader | License ID: 01314386

+1(714) 812-9155

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