Wednesday, August 13, 2008
Still Investing in South Berkeley-North Oakland
Green Condo Development on 65th Street, Oakland.
Listed in the low $700,000 and all sold very quickly.
This regionally recognized development replaced a
dilapidated single family dwelling with three condo units.
While this blog focuses on eliminating blight in South Berkeley-North Oakland, we don't want to give people the idea that all is bad in our community. Far from it. Despite the poor economy and real estate slowdown, there is still significant investments occurring in South Berkeley-North Oakland. I credit this largely to our location. We are close to two Bart Stations, Ashby and MacArther, have easy access to Highways 24 and 80 leading into major employment centers and are close to some of the best shopping and entertainment districts the East Bay has to offer--Temescal, Rockridge, Piedmont, Elmwood, Downtown Berkeley and the Gourmet Ghetto. To the east, we have easy access to acres of hiking trails in the East Bay Regional Park District and to the west, the shores of the Bay and the Eastshore State Park. Not unlike Rockridge or Temescal, our historic neighborhoods, which grew around the streetcar trolleys at the turn of the century, are filled with beautiful California and Craftsman Bungalows and Colonial Revival Cottages. Given the reasonably priced housing stock and the proximity to highly desirable areas, our community is on the verge of a major transition, much the way Temescal experienced. For the savvy investor or those looking to purchase a home with upside potential in a down market, South Berkeley-North Oakland is certainly an option to consider. Do you ever wonder what used be located at the current site of the neighborhood defining NOMAD Cafe?
Here are but a few examples of positive investments in our community. Most of these are clustered around the Ashby BART Station. Not only are we seeing condo conversions in Oakland, but homeowners expanding their single family dwellings in Berkeley and Oakland to get more square footage. That is an important sign that residents like their community and are willing to invest in it.
Colonial Revival Cottage on Woolsey completely remodeled.
with an addition. The property was an eyesore with significant
Colonial Revival Cottage on Tremont Street, Oakland.
This home has been completely remodeled and updated
with a first floor expansion.
Remodel of deteriorated home on Wheeler Street,
Berkeley, with new fenestration.
Condo conversion on Alcatraz Avenue, Oakland.
Beautifully remodeled and listing in the $500,000's
for each very large unit.