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    Property profile & analytics

    2247 Ivy Dr Oakland, CA 94606-5403

    • Apartment buildings
    • 5,568 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimation
    $1,055,000
    Last Sale
    Dec 27, 2024
    $1,050,000
    Location Intelligence
    Property ID
    US09-9228065
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2247 Ivy Dr

    Year built
    1941
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    5,568 SF
    Property type
    Apartment buildings
    APN
    22-338-15
    APU
    2233815

    Description

    This exceptional 5-unit apartment building presents a compelling investment opportunity in Oakland, California's desirable Ivy Hill neighborhood. Situated at 2247 Ivy Dr, this three-story, 5,568 square foot building boasts a mix of spacious units: three 2-bedroom/1-bathroom and two 1-bedroom/1-bathroom apartments. Each unit features private entry, updated kitchens with stainless steel appliances, and renovated bathrooms. The property benefits from a low-maintenance landscape and individually metered PG&E utilities, minimizing operating expenses. Recent upgrades include a complete seismic retrofit, eliminating a significant future expense for the new owner. The building sits on a 5,000 square foot lot and was constructed in 1941. The current Net Operating Income (NOI) is $74,092, yielding a 5.81% cap rate. Pro-forma NOI is projected at $97,737, resulting in a 7.67% pro-forma cap rate. The asking price is $1,275,000, or $255,000 per unit. Its prime location, just three minutes from Lake Merritt, provides tenants with easy access to a vibrant array of amenities including restaurants, cafes, parks, and shopping, ensuring strong tenant demand and long-term value appreciation. This property offers a blend of immediate income and significant upside potential.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,050,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,065,000
      6.5%
      $945,000
      7%
      $1,050,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,010,000
      Geo Method
      $970,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,205,000
      Retail
      $1,195,000
      Mixed-Use
      $1,230,000
      Hospitality
      $955,000
      Educational
      $1,225,000
      Residential Income
      $1,110,000
      Energy
      $1,220,000
      Income-Based Land
      $1,135,000
      Food Service
      $1,135,000

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.245
    Latitude
    37.8012
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $44,644
    $656,178
    $1,062,680
    $1,718,858
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation by Request
      13,585 SF

      224 15th St

      APARTMENT HOUSE (5+ UNITS) • 13,585 SF
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      View Details

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    2247 Ivy Dr
    Oakland, CA 94606-5403
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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