OAKLAND – When a three-bedroom house went up for sale in Deep East Oakland, an area many home seekers traditionally steered clear of because of its bad crime reputation and a lack of basic amenities, the seller was bombarded with 18 offers.
The home is in Durant Manor, one of many neighborhoods clustered between Eastmont Mall on 73rd Avenue and the San Leandro border – a far cry from popular neighborhoods such as Temescal, West Oakland or Maxwell Park that typically draw homebuyers. Rob Zaborny, a 59-year-old chef who works in San Francisco, and his husband landed the winning $450,000 bid.
Deep East Oakland? Haven’t heard of that term before…
Thanks, Manch, that is music to my ears…
I was shocked that a SFH near my 4plex there sold for over 1M recently. It is a nice house but come on it aint Montclair or even Glenview.
The article mentions the area south of 98th Ave as hot. What about the east-west boundary? Is the area east of Bancroft (thus closer to 580) better than west?
How about this house?
Zillow says it can be rented for $2,700? Total cost of ownership is around $2,000. So potentially there can be $700 positive cash flow to be had?
Hot or not?
I am very happy for Oakland turning the corner. It has so much going for it. Weather is way better than SF for one.
Unfortunately, I don’t know Oakland east of Fruitvale very well at all. I was there in Oakland yesterday doing some landlording chores and saw my contractor. He said all of his friends are buying big time in Oakland and flipping.
This place looks decent but I am skeptical that one can get that much rent. If true, you’re right, cash flow positive from Day 1 and you get all of the tax benefits.