$980,000

2840 Martin Luther King jr Way Oakland, CA 94609

Hoover-Foster Neighborhood

Estimated payment $6,586/month

Total Views 3,135
8 Beds
1 Bath
2,751 Sq Ft
$356 Price per Sq Ft

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

Range of Values:

Collateral Analytics

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ICE

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Average Value
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List Price
Sold 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
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

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Source: bridgeMLS

MLS Number: 41089769

bridgeMLS

APN: 009-0697-027-00