East Oakland Neighborhoods

[Don Souza]

Appreciate any input on which East Oakland neighborhoods are best for buy/hold investing? Thanks.

[Robert Marston]

In my opinion, anything in East Oakland currently is going to be purchased with Appreciation in mind. Cash flowing is possible in East Oakland but as a whole rents are high, property conditions are less than high dollar surrounding area and the towns in East Oakland do not have the large draws that those in West Oakland and Lake Merrit have (Hecka good Food, theaters, shopping centers with more than a KFC, Mattress store, LIQ and Cash for Titles--This is shifting, though!). 

East Oakland Multi-Family(Zip: 94601, 94603, 94605, 94621) homes are currently staying on the market for an average of 29 days and are selling for 103-105% of their listed price. Towards the end of last year we were looking at 5 months of inventory, Jan and Feb have wiped most of that clean, we are at 1.5-1.6 months now. 

Single Family is 38 days on market currently and selling 102% of list, ~ 1.3 months of Inventory.

At present my past clients are sharing with me their issues of petty property crime being committed in East Oakland, this is something you would want to factor into your hold costs for a few years while the neighborhoods continue to "Gentrify". 

Fruitvale is a neighborhood that is close to BART and has enough personality to be a large East Oakland draw as it grows. The growing process is tough for all cities and everyone has to grow with them, this doesn't always happen fast! West Oakland took off in less than three years, I think Fruitvale will take a tad longer as affordability takes its squeeze but this is one area I would suggest you doing some research regarding holding for long term wealth!

Feel free to ask any questions you have! =)