
2840 Martin Luther King jr Way Oakland, CA 94609
Hoover-Foster NeighborhoodEstimated payment $6,586/month
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
Map
Home Details
Home Type
Single Family
Est. Annual Taxes
$13,899
Year Built
1910
Lot Details
0
Listing Details
- Property Sub Type: Duplex
- Property Type: Residential Income
- Co List Office Mls Id: OBOKWT
- Directions: Right off of 28th Street
- Special Features: None
- Year Built: 1910
Interior Features
- Total Bedrooms: 8
Exterior Features
- Construction Type: Wood Siding
Garage/Parking
- Parking Features: Detached
Utilities
- Cooling: No Air Conditioning
- Heating Yn: Yes
Condo/Co-op/Association
- Association Name: Bridge AOR
Lot Info
- Lot Size Sq Ft: 3320
Home Values in the Area
Average Home Value in this Area
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 |
---|---|---|---|---|
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 |
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 |
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 |
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 |
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Source: bridgeMLS
MLS Number: 41089769

APN: 009-0697-027-00
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