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Updated over 3 years ago on . Most recent reply

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David Lam
20
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19
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House hacking in deep East Oakland

David Lam
Posted

Hello BP! I'm considering investing deep East Oakland, specifically the areas between the Coliseum and San Leandro. I was thinking of house hacking in the short future then possibly short-term rentals or Section 8 later down the line. However, I have heard horror stories about the homeless that can park out there and the police not coming to assist, gunshots, disrespect for your property, human waste lying around, and drug houses, and more. The quality of tenants may suffer as a result.

Is it worth it? To hope that gentrification would eventually kick in and create a safer neighborhood? Back then, West Oakland was a no-go zone. Now it's experiencing a renaissance. Does anyone have any personal anecdotes to share? 

Most Popular Reply

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26
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Keri Carpenter
  • San Francisco, CA
38
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26
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Keri Carpenter
  • San Francisco, CA
Replied

I have been investing in that area since 2008. I own 3 properties from 82nd to 96th ave. I own a 4 plex at 96th and olive, 2 SFR on 82nd and 79th ave, respectively. I bought them in the downturn so they have appreciated alot over the years. If you're young like I was when I started, I would definitely have been fine with househacking in the area. I was used to crappy areas of Oakland and was hungry to own something and build some wealth so I would have lived anywhere necessary. If you've got kids and a family, I would skip it. In terms of it gentrifying, I definitely assumed that it would have gentrified and I'm 13 years in and counting. I don't think it will happen. Whenever I hear bad stuff about the area, I just go "Sigh. Oakland." However, they've performed handsomely as investments for me over the years. I have 13 units -- in all different types of neighborhoods. 3 in downtown SF, 6 in East Oakland, 3 out of state, 1 in Sacramento. East Oakland probably has its problems, but I've had crappy tenants in better areas too. Bad neighborhoods or good, most people are cool, but some are a real hassle. I've done 6 evictions, come to think of it only from my East Oakland units, so there's that, but somehow it doesn't really phase me. I also have tenants in the area who I just adore and would do almost anything for. If you want a second opinion, if you send me the address I can give you some likely more detailed reactions to that particular area. I've had experience in almost every corner of East Oakland over the years. Good luck!

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