Neighborhood Watch: Oakland’s Piedmont Pines
In my quest to find great deals in great neighorhoods, 2343 Mastlands Dr. (photos here)has come up on my radar several times. It sold last summer for $680,000 and recently sold again last month for $550,000. Its highest sale was $950,000 in April of 2006. While its description stated “BANK-OWNED, SOLD AS-IS. Well maintained home in Oakland Hills with great views. Minor TLC required…” I’m still surprised that it sold for so low given that it’s in the Piedmont Pines neighborhood of Oakland. Often called “exclusive” and “desirable” by realtors, San Francisco Magazine has called Piedmont Pines “nature for folks with serious cash” and “one of the prime locations in the Bay Area” (October 2007 edition). While not necessarily a “gorgeous” house glancing at the photos, this seems to follow the mantra of “location, location,location”: being in one of Oakland’s best areas makes $550,000 sound like a steal, even in this market.
2343 Mastlands Dr.
4bd/3ba
Sold for $550,000 on September 3, 2008.
Square Footage: 2150
Built in: 1958
Lot size: 11,761 SF
Sales History
| May 23, 2001 | $240,000 | – |
| Sep 26, 2002 | $10,000 | -90.6%/yr |
| Apr 04, 2006 | $950,000 | 264.5%/yr |
| Aug 27, 2007 | $680,000 | -21.3%/yr |
| Sep 03, 2008 | $550,000 | -18.8%/yr |
