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…
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?
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.