Hitting Rock Bottom: 5 Under $125,000

pit-by-cmpt.jpgIn my last post I listed some bargain basement properties in Oakland. While those ranged from $129,000 to $360,000 today I’m highlighting some of the lowest-priced Oakland residences I could find on the MLS.  All of these homes are in East Oakland, with the exception of 921 Pine St. which is in West Oakland. Since both East and West Oakland have been hit hard with foreclosures, many of the properties are bank-owned. So I’ve listed each home’s zip code for reference. Foreclosure stats for 2007 by zip code are as follows:

Zip: 94607 Total Foreclosures: 48 (16 Per 1000 Homes)
Zip: 94603 Total Foreclosures: 149 (24 Per 1000 Homes)
Zip: 94621 Total Foreclosures: 149 (31 Per 1000 Homes)
Zip: 94605 Total Foreclosures: 225 (20 Per 1000 Homes)

Compare this with higher-income Oakland zips such as:

Zip: 94618 (Rockridge, Claremont) Foreclosures: 7 (1 Per 1000 Homes)
Zip: 94610 (Lake Merritt, Crocker Highlands) Foreclosures: 35 (5 Per 1000 Homes)

Here are 5 of the most rock-bottom-priced SFR’s in Oakland. 

921 Pine St. 
4bd/2ba 692 SF
List Price: $84,900
Previous High Sale: $300,000 August 2005
Neighborhood: West Oakland Zip: 94607

9225 B St. 
1bd/1ba 514 SF
Original Price: $129,900 Current Price: $99,900
Previous High Sale: $316,000 September 2005
Neighborhood: “Deep” East Oakland/Bordering San Leandro Zip: 94603

1038 83rd Ave. 
2bd/1ba 1054 SF
Original Price: $199,000 Current Price: $119,000
Previous High Sale: $420,000 July 2005
Neighborhood: East Oakland Zip: 94621

1425 79th Ave.
2bd/1ba 926 SF
Original Price: $194,900 Current Price: $118,900
Previous High Sale: $420,000 September 2005
Neighborhood: East Oakland Zip: 94621

5828 Kingsley Circle
2bd/1ba 726 SF
List Price: $125,000
Previous High Sale: $430,000 January 2006
Neighborhood: East Oakland, Seminary Area Zip: 94605

(Stats Source: Dataquick as cited by SFGate.com)

Photo Credit: “Pit” by cpmc on stock.xchng