2417 Ivy Drive

Oakland, CA 94606

$1,400,000
Price
Beds
4,152 Sq. Ft.
$337 / Sq. Ft.
4,152
Sq. Ft.
$337
per Sq. Ft.

Description

Transparent pricing! 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...Transparent pricing! 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.
  1. Listed by Joshua Silverman • DRE #01882355 • Real Brokerage Technologies

Property Details for 2417 Ivy Drive

City
OAKLAND
Dist Neighborhood Subdiv
IVY HILL
Building Type
5 or More Units
Property Sub Type
5 or More Units
Garage/Parking
Attached Garage, Enclosed, Parking Area
View
Downtown
Total # Parking Spaces
4
LISTING UPDATED: 06/27/2024 12:16 PM

Property Details for 2417 Ivy Drive

StatusActive - Contingent
MLS #41062486
Days on Compass15
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1941
Lot Size0.15 AC / 6,406 SF
CountyAlameda County

Building Information for 2417 Ivy Drive

Stories-Residences5Year Built1941Building Size-Lot Size0.15 AC / 6,406 SF

Property Information for 2417 Ivy Drive

Features
Feature Details
  • Flooring: Hardwood Flrs Throughout, Tile, Vinyl
  • Laundry: Common Room, In Basement, In Laundry Room, Laundry Equip - Leased, Washer/Dryer Stacked Incl
Room Details
  • Additional Rooms: Basement - Unfinished
Utility Details
  • Cooling: Other
  • Heating: Electric, Floor Furnace, Gas, See Remarks
  • Water/Sewer: Sewer System - Public, Water - Public
Lot / Property Details
Home Owners Association
  • HOA: No
Property Details
  • Additional Equipment: Dryer, Intercom, Washer, Water Heater Gas, Window Coverings, Carbon Mon Detector, Double Strapped Water Htr, Smoke Detector, All Public Utilities, Internet Available, Natural Gas Connected, Individual Electric Meter, Individual Gas Meter
  • City Transfer Tax: Yes
  • Exterior: Stucco
  • Lot Description: Down Slope
  • Lot Sq Ft Apx: 6406
  • Lot Size Square Feet: 6406.0
  • Roof: Tar and Gravel
  • Sq Ft Apx: 4152
  • Year Built: 1941
  • Zoning: RU-2
Location Details
  • Directions to Property: Near Park Blvd and 7th Ave
  • FIPS Code: 06001
  • New Subdivision: No
  • Census Tract: No
  • Parcel Number: 22-338-7
  • Printed Neighborhood Rpt: No
  • Board ID: Bridge AOR
Multi Family Information
General Details
  • All Units Have: Oven Range Free Standing, Refrigerator
  • Some Units Have: Dishwasher, Oven Range Free Standing, Refrigerator, Updated Baths, Updated Kitchen
  • Units Total: 5
  • Basement: Separate Entry, Unfinished
  • Separate Meters: Electric, Gas
  • Tenant Pays: Cable TV, Electric, Gas
  • Financial Data Source: Property Manager
Income / Expense Details
  • Operating Expenses: Electric, Gas, Insurance, Maintenance/Repair, Property Tax/Assessments, Trash Removal, Utilities, Water
Multi Family 5+ Information
Unit 1
  • Unit 1 # Units This Type?: 4
  • Unit # 1 Occupied By: Tenant
  • Unit # 1 Dining Room: Yes
  • Unit # 1 Air Cond: No
  • Unit # 1 Fireplace: No
  • Unit # 1 Refrigerator: Yes
  • Unit # 1 Range Oven: Yes
  • Unit # 1 # of Bedrooms: 2
  • Unit # 1 # of Bathrooms: 1
  • Unit # 1 Parking Spaces: 1
  • Unit # 1 Approx SqFt: 863
  • Unit # 1 Rent: 1420.21
Unit 2
  • Unit 2 # Units This Type?: 4
  • Unit # 2 Occupied By: Tenant
  • Unit # 2 Dining Room: Yes
  • Unit # 2 Air Cond: No
  • Unit # 2 Fireplace: No
  • Unit # 2 Refrigerator: Yes
  • Unit # 2 Range Oven: Yes
  • Unit # 2 # of Bedrooms: 2
  • Unit # 2 # of Bathrooms: 1
  • Unit # 2 Parking Spaces: 1
  • Unit # 2 Approx SqFt: 863
  • Unit # 2 Rent: 2500.00
Unit 3
  • Unit 3 # Units This Type?: 4
  • Unit # 3 Occupied By: Tenant
  • Unit # 3 Dining Room: Yes
  • Unit # 3 Air Cond: No
  • Unit # 3 Fireplace: No
  • Unit # 3 Refrigerator: Yes
  • Unit # 3 Range Oven: Yes
  • Unit # 3 # of Bedrooms: 2
  • Unit # 3 # of Bathrooms: 1
  • Unit # 3 Parking Spaces: 1
  • Unit # 3 Approx SqFt: 863
  • Unit # 3 Rent: 2500.00
Unit 4
  • Unit 4 # Units This Type?: 4
  • Unit # 4 Occupied By: Tenant
  • Unit # 4 Dining Room: Yes
  • Unit # 4 Air Cond: No
  • Unit # 4 Fireplace: No
  • Unit # 4 Refrigerator: Yes
  • Unit # 4 Range Oven: Yes
  • Unit # 4 # of Bedrooms: 2
  • Unit # 4 # of Bathrooms: 1
  • Unit # 4 Parking Spaces: 4
  • Unit # 4 Approx SqFt: 863
  • Unit # 4 Rent: 1641.00
Unit 5
  • Unit 5 # Units This Type?: 1
  • Unit # 5 Occupied By: Tenant
  • Unit # 5 Dining Room: Yes
  • Unit # 5 Air Cond: Yes
  • Unit # 5 Fireplace: No
  • Unit # 5 Refrigerator: Yes
  • Unit # 5 Range Oven: Yes
  • Unit # 5 # of Bedrooms: 2
  • Unit # 5 # of Bathrooms: 1
  • Unit # 5 Parking Spaces: 0
  • Unit # 5 Approx SqFt: 700
  • Unit # 5 Rent: 2550.00
Building Details
  • Additional Features-Misc: Garden
  • Apx Lot Acres: 0
  • Inspection Reports Available: Home, Pest, Roof, Preliminary Title Report, Property Inspection, Rental/Lease Agreement, Subject to Lease
  • On Site Parking Description: Attached Garage, Enclosed Garage, Garage Parking, Parking Area
  • Total Deposits: 13175
Income / Expense Details
  • Annual Maint Expense: $52,079
  • Annual Rent Income: $127,896
  • Gross Rent Multiplier: 11
  • Net Operating Income: $71,997
Other Financial Information
  • Cap Rate: 5.02
  • Existing Loan: None
  • Ocpnt Req 24 Hr: Yes
Additional Information
Additional Information
  • Fireplace: No

Property History for 2417 Ivy Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2417 Ivy Drive

Taxable ValueLand$254,133Additions$771,062Total$1,025,195
Tax Record2023$18,670 ($1,556 / month)
Home Facts
Total Finished SqFt7,074 SqFtAbove Grade Finished SqFt7,074 SqFtStories3Lot Size6,406 SqFtStyleMulti-Family Res (5+ Units)Year Built1941CountyALAMEDAAPN22-338-7

Schools near 2417 Ivy Drive

This home is within Oakland Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 12
Rating
School
Distance
Bella Vista Elementary School
PublicK to 5

Edna Brewer Middle School
Public6 to 8

Oakland High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Real Brokerage Technologies, Joshua Silverman, DRE #01882355

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.