$980,000

2840 Martin Luther King jr Way Oakland, CA 94609

Hoover-Foster Neighborhood

Estimated payment $6,379/month

Total Views 3,776
8 Beds
1 Bath
2,751 Sq Ft
$356 Price per Sq Ft

Highlights

  • Wood Flooring
  • No HOA
  • Floor Furnace
  • Oakland Technical High School Rated A
  • Cooling Available
  • 2-minute walk to Durant Mini Park

About This Home

Exceptional Investment Opportunity – 5-Unit Upside with Plans Approved! Don’t miss this rare chance to acquire a multi-unit property with built-in value-add potential! Currently improved with two legal units and two legal non-conforming units, this asset includes approved building plans to legalize the existing non-conforming units and construct a brand-new fifth unit. Once fully developed, the property is projected to generate pro forma rental income of nearly $11,000/month—a strong return in a high-demand rental market. Ideal for owner-users, investors, or 1031 buyers looking for stable income with room to grow. Highlights: 2 legal units + 2 legal non-conforming units Plans approved to legalize all 4 existing units and add a 5th Projected monthly income: ~$11,000 Strong rental demand and upside potential Convenient location near transit, shops, and amenities This is a turn-key opportunity for the right investor to unlock significant cash flow and long-term value.

Listing Agent

Nolan Jones

KELLER WILLIAMS TRI VALLEY REALTY License #01509417 Listed on: 03/17/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,899

Year Built

  • Built in 1910

Lot Details

  • 3,320 Sq Ft Lot

Parking

  • Garage

Home Design

  • Duplex
  • Composition Shingle Roof
  • Wood Siding

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 1 Bathroom

Utilities

  • Cooling Available
  • Floor Furnace

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 969727

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,899

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Year Built: 1910
  • Property Sub Type: Duplex
  • Prop. Type: Residential Income
  • Directions: Right off of 28th Street
  • Garage Yn: Yes
  • Special Features: None

Interior Features

  • Flooring: Carpet, Wood
  • Total Bedrooms: 8

Exterior Features

  • Roof: Composition Shingles
  • Construction Type: Wood Siding

Utilities

  • Heating: Floor Furnace
  • Cooling Y N: Yes
  • Heating Yn: Yes

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size Sq Ft: 3320
  • Parcel Number: 969727

Map

Range of Values:

Collateral Analytics

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Average Value
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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $13,899 $934,250 $280,275 $653,975
2024 $13,899 $915,936 $274,781 $641,155
2023 $14,608 $897,977 $269,393 $628,584
2022 $14,190 $880,371 $264,111 $616,260
2021 $13,584 $863,112 $258,933 $604,179
2020 $13,435 $854,265 $256,279 $597,986
2019 $12,939 $837,521 $251,256 $586,265
2018 $12,670 $821,100 $246,330 $574,770
2017 $12,187 $805,000 $241,500 $563,500
2016 $4,121 $217,557 $65,267 $152,290
2015 $5,395 $214,291 $64,287 $150,004
2014 $5,450 $210,095 $63,028 $147,067
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/16/2025 06/16/25 Off Market $980,000 -- --
05/03/2025 05/03/25 For Sale $980,000 0.0% $356 / Sq Ft
03/17/2025 03/17/25 For Sale $980,000 -- $356 / Sq Ft
Source: bridgeMLS

Purchase History

Date Type Sale Price Title Company
Grant Deed $805,000 Chicago Title Company
Grant Deed $200,000 Lsi Title
Trustee Deed $491,517 Accommodation
Grant Deed $475,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $620,000 New Conventional
Closed $644,000 New Conventional
Closed $644,000 Purchase Money Mortgage
Previous Owner $149,900 Purchase Money Mortgage
Previous Owner $513,000 Unknown
Previous Owner $160,000 Credit Line Revolving
Previous Owner $380,000 Fannie Mae Freddie Mac
Closed $95,000 No Value Available
Source: Public Records

Source: bridgeMLS

MLS Number: 41089769

bridgeMLS

APN: 009-0697-027-00

California Alameda County Oakland 94609 Hoover-Foster

2840 Martin Luther King jr Way, Oakland, CA

This home is located at 2840 Martin Luther King jr Way, Oakland, CA 94609 and is currently priced at $980,000, approximately $356 per square foot. This property was built in 1910. 2840 Martin Luther King jr Way is a home located in Alameda County with nearby schools including M. L. King Jr. Elementary School, Westlake Middle School, and Oakland Technical High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

bridgeMLS Bay East 2025. CCAR 2025. bridgeMLS 2025. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Nolan Jones
Listing Agent
Nolan Jones
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KELLER WILLIAMS TRI VALLEY REALTY
(510) 398-1626