2247 Ivy Drive

Oakland, CA 94606

$1,225,000
Price
Beds
5,568 Sq. Ft.
$220 / Sq. Ft.
5,568
Sq. Ft.
$220
per Sq. Ft.

Description

This 5-unit multifamily investment opportunity located in the Ivy Hill neighborhood in Oakland California, offers a promising financial future. The 5,568 square foot property consists of three large 2 bedroom/1 bathroom units and two spacious 1 bedroom/1 bathroom units in a three-story building of wood frame and stucco construction. The property features private entries, central heating, new kitchens with stainless steel appliances, new bathrooms, and a low-maintenance landscape. Tenants are separately...This 5-unit multifamily investment opportunity located in the Ivy Hill neighborhood in Oakland California, offers a promising financial future. The 5,568 square foot property consists of three large 2 bedroom/1 bathroom units and two spacious 1 bedroom/1 bathroom units in a three-story building of wood frame and stucco construction. The property features private entries, central heating, new kitchens with stainless steel appliances, new bathrooms, and a low-maintenance landscape. Tenants are separately metered for PG&E, ensuring remarkably low operating expenses for new ownership. In addition, the building was recently seismically retrofitted, saving any investor the headache and cost of completing this big ticket item themselves. 2247 Ivy Dr is located in the desirable Ivy Hill neighborhood, just 3 minutes away from Oakland’s Lake Merritt. Tenants can enjoy all the lake activities, as well as nearby restaurants, cafes, parks, and shopping, making this property a sound investment with promising financial benefits.

Listing Agent

  1. Willem Bos

    Willem Bos

    Listing Agent

    Compass

    DRE #02013980

    willem.m.bos@compass.com

    P: (916)-698-9954

Property Details for 2247 Ivy Drive

City
OAKLAND
Building Type
5 or More Units
Property Sub Type
5 or More Units
Total # Parking Spaces
4
LISTING UPDATED: 12/12/2024 02:53 PM

Property Details for 2247 Ivy Drive

StatusPending
MLS #41073115
Days on Compass90
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1941
Lot Size0.11 AC / 5,000 SF
CountyAlameda County

Building Information for 2247 Ivy Drive

Stories-Residences5Year Built1941Building Size-Lot Size0.11 AC / 5,000 SF

Property Information for 2247 Ivy Drive

Features
Feature Details
  • Flooring: Wood
  • Laundry: Common Room
  • Disability Features: Other
Utility Details
  • Cooling: Ceiling Fan(s), None, Other
  • Heating: Other Heat
  • Water/Sewer: Other
Lot / Property Details
Home Owners Association
  • HOA Amenities: Other
Property Details
  • Additional Equipment: Dryer, Washer
  • City Transfer Tax: Yes
  • Exterior: Stucco
  • Lot Description: Other
  • Lot Sq Ft Apx: 5000
  • Lot Size Square Feet: 5000.0
  • Roof: Other
  • Sq Ft Apx: 5568
  • Year Built: 1941
Location Details
  • Directions to Property: Corner of Ivy Dr & E 23rd stree
  • FIPS Code: 06001
  • Census Tract: yes
  • Printed Neighborhood Rpt: Yes
  • Board ID: Bridge AOR
Multi Family Information
General Details
  • All Units Have: Other
  • Units Total: 5
  • Basement: Separate Entry
  • Separate Meters: Electric, Gas
  • Tenant Pays: Electric, Gas
  • Financial Data Source: Owner
Multi Family 5+ Information
Unit 1
  • Unit 1 # Units This Type?: 1
  • Unit # 1 # of Bedrooms: 1
  • Unit # 1 # of Bathrooms: 1
  • Unit # 1 Parking Spaces: 1
  • Unit # 1 Approx SqFt: 980
Unit 2
  • Unit 2 # Units This Type?: 1
  • Unit # 2 Occupied By: Tenant
  • Unit # 2 # of Bedrooms: 2
  • Unit # 2 # of Bathrooms: 1
  • Unit # 2 Parking Spaces: 1
  • Unit # 2 Approx SqFt: 1250
Unit 3
  • Unit 3 # Units This Type?: 1
  • Unit # 3 Occupied By: Tenant
  • Unit # 3 # of Bedrooms: 1
  • Unit # 3 # of Bathrooms: 1
  • Unit # 3 Parking Spaces: 1
  • Unit # 3 Approx SqFt: 980
Unit 4
  • Unit 4 # Units This Type?: 1
  • Unit # 4 Occupied By: Tenant
  • Unit # 4 # of Bedrooms: 2
  • Unit # 4 # of Bathrooms: 1
  • Unit # 4 Parking Spaces: 1
  • Unit # 4 Approx SqFt: 1250
Unit 5
  • Unit 5 # Units This Type?: 1
  • Unit # 5 Occupied By: Tenant
  • Unit # 5 # of Bedrooms: 2
  • Unit # 5 # of Bathrooms: 1
  • Unit # 5 Parking Spaces: 1
  • Unit # 5 Approx SqFt: 1250
Building Details
  • Additional Features-Misc: Extra Storage, Other
  • Apx Lot Acres: 0
  • Inspection Reports Available: Pest
  • On Site Parking Description: Garage Parking
Income / Expense Details
  • Gross Income: $117,804
  • Gross Rent Multiplier: 10.4
  • Net Operating Income: $74,092
Other Financial Information
  • Cap Rate: 6.1
  • Existing Loan: ARM
  • Ocpnt Req 24 Hr: Yes
Additional Information
Additional Information
  • Fireplace: No

Property History for 2247 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 2247 Ivy Drive

Taxable ValueLand$656,178Additions$1,062,680Total$1,718,858
Tax Record2024$43,338 ($3,612 / month)
Home Facts
Total Finished SqFt5,568 SqFtAbove Grade Finished SqFt5,568 SqFtStories2Lot Size5,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1941CountyALAMEDAAPN22-338-15

Schools near 2247 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 - 9 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

AIMS College Prep High
Charter9 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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of COMPASS, Willem Bos, DRE #02013980

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.