Property Details
About this Property
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, Trader's Joes 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.
MLS Listing Information
MLS #
EB41062808
MLS Source
Bridge MLS
Interior Features
Appliances
Dryer, Washer
Flooring
Hardwood, Tile, Vinyl
Laundry
Community Facility
Cooling
Air Conditioning - None
Heating
Floor Furnace, Gas, Heat Pump, Individual Room Controls
Exterior Features
Roof
Tar/Gravel
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Attached Garage, Enclosed, Garage, Off-Street Parking, Parking Area, Spaces per Unit - 1, Garage: Car(s)
Sewer
Public Sewer
Water
Public
Zoning
RU-2
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| – | – | 5 |
| Unit # | Sq Ft | Beds | Baths | Rent |
|---|---|---|---|---|
| 1 | 863 | 2 | 0/0 | – |
| 2 | 863 | 2 | 0/0 | – |
| 3 | 863 | 2 | 0/0 | – |
| 4 | 863 | 2 | 0/0 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
2417 Ivy Dr is a Residential Income in Oakland, CA 94606. This 4,152 square foot property sits on a 6,406 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,400,000 and was built in 1941. This address can also be written as 2417 Ivy Dr, Oakland, CA 94606.
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This listing information is up-to-date as of August 26, 2024. For the most current information, please contact Joshua Silverman, (510) 292-8160
