2417 Ivy Dr, Oakland, CA 94606
- $1,400,000
Listed by Joshua Silverman, (510) 292-8160 from Real Brokerage Technologies
(If provided) CoList: from
Sold listing courtesy of Yulanda Ong from CCONG
- Sold Price
- $1,400,000
- List Price
- $1,400,000
- Closing Date
- Aug 20, 2024
- MLS#
- EB41062486
- Status
- SOLD
- Lot Size
- 6,406
- Listing Area
- Oakland Zip Code 94606
- Year Built
- 1941
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.
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Additional Information
- Acres
- 0.15
- Age
- 83
- Cooling System
- Other
- Days On Market
- Unknown
- Exterior Features
- Stucco
- Floor Covering
- Tile, Vinyl, Hardwood
- Garage Parking
- Attached Garage, Enclosed, Parking Area
- Heating System
- Gas, Electric
- Laundry Facilities
- In Basement, In Laundry Room, Washer/Dryer - Leased, Community Facility, Dryer
- Lot Description
- Grade - Sloped Down
- Lot Size
- 6,406
- Neighborhood
- Oakland Zip Code 94606
- Numberof Units
- 5
- Other Rooms
- Basement - Unfinished
- Roof
- Tar and Gravel
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- View
- Downtown
- Zoning
- RU-2
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