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2535 Wallace St, Oakland, CA 94606

List Price: $1,250,000On Market FlagOn market
Mar 17, 20252,400 sqft3 beds0 baths
Listed by: Nolan Jones
License #: 01509417
Phone #: 510-867-4806
KELLER WILLIAMS TRI VALLEY REALTY
Source:
CRMLS Logo
MLS #: 41089731

Property Description

Unlock the full potential of this three-unit property with a separate buildable lot—a rare value-add opportunity for investors and contractors. The existing building features one two-bedroom, two-bathroom unit, one two-bedroom, one-bathroom unit, and a studio, offering a versatile unit mix for strong rental income. The adjacent lot provides a blank canvas for expansion, allowing for the development of an additional structure to maximize returns. The current units are in excellent condition and with the ability to capitalize on the development potential, this property presents endless possibilities. Situated in a prime location, close to transit, retail, and major employment hubs, this is a must-see opportunity for investors looking to create significant value.
Assignment
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Kevin Kretzmer
Kevin Kretzmer

Role: TurboHome Head Agent

Experience: 10 years

No. of Transactions: 227

“I specialize in helping clients find their dream home or next investment in California, focusing on residential and multi-family properties. My client-first approach, clear communication, and attention to detail ensure that everyone I work with receives exceptional service.”

TurboHome Fair Market Estimate

TurboHome

TurboHome Savings

$21,312

TurboHome Estimated Value

$1,335,400

$556 sqft

High Valuation
$1,402,170
$584/sqft
Normal Valuation
$1,335,400
$556/sqft
Low Valuation
$1,268,630
$529/sqft

3rd Party Estimates

Source$/sqftValuation
HouseCanary$556/sqft$1,335,400

Neighborhood: Tuxedo

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Comparative Value

$925K

$980K

$1.05M

$1.25M

$1.35M

2733 19th Ave, Oakland, CA 94606

Sale Price: $925,000

Selected Comparable

1715 9th Ave, Oakland, CA 94606

Sale Price: $980,000

Selected Comparable

219 Foothill Blvd, Oakland, CA 94606

Sale Price: $1,050,000

Selected Comparable

2568 Scenic Ave, Oakland, CA 94602

Sale Price: $1,060,000

Selected Comparable

2535 Wallace St, Oakland, CA 94606

List Price: $1,250,000

Subject Property

465 Elwood Ave, Oakland, CA 94610

Sale Price: $1,355,000

Selected Comparable

Neighborhood Comps

Subject Property

SUBJECT
2535 Wallace St, Oakland, CA 94606

2535 Wallace St, Oakland, CA 94606

List: $1,250,000

Listed: 3/17/2025

Area:2,400 sqft
Price/sqft:$521
Beds:3
Baths:
Year Built:
Lot Size:5,798

Comparable Properties

COMPARABLE
Choose comps
465 Elwood Ave, Oakland, CA 94610

465 Elwood Ave, Oakland, CA 94610

Sale: $1,355,000

8/12/20241.44 mi

Area:2,824 sqft
Price/sqft:$480
Beds:3
Baths:
Year Built:
Weight:22.1%
1715 9th Ave, Oakland, CA 94606

1715 9th Ave, Oakland, CA 94606

Sale: $980,000

8/16/20240.73 mi

Area:2,603 sqft
Price/sqft:$376
Beds:4
Baths:
Year Built:
Weight:20.0%
2568 Scenic Ave, Oakland, CA 94602

2568 Scenic Ave, Oakland, CA 94602

Sale: $1,060,000

12/23/20241.43 mi

Area:2,225 sqft
Price/sqft:$476
Beds:4
Baths:
Year Built:
Weight:19.9%
2733 19th Ave, Oakland, CA 94606

2733 19th Ave, Oakland, CA 94606

Sale: $925,000

10/31/20240.18 mi

Area:1,930 sqft
Price/sqft:$479
Beds:4
Baths:
Year Built:
Weight:19.8%
219 Foothill Blvd, Oakland, CA 94606

219 Foothill Blvd, Oakland, CA 94606

Sale: $1,050,000

6/26/20251.11 mi

Area:3,112 sqft
Price/sqft:$337
Beds:4
Baths:
Year Built:
Weight:18.1%

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