West Oakland Infill Home Easily Breaks the Million Dollar MarkAugust 5, 2016
As we wrote in June:
“The nearly identical sister home to 862 Wood Street in the Lower Bottoms neighborhood of West Oakland, which was listed for $824,500 in April and sold for $1,025,000 last month, has just been listed as well.
While the best comp for 864 Wood Street would seem to be 862 Wood, which sold for $457 per square foot, 864 Wood, which measures an identical 2,245 square feet, has been listed at “$849,000” or $378 per foot.
And as such, expect 864 Wood to sell for well “over asking!” (or for a massive wave of buyer’s remorse next door).”
And indeed, the sale of 864 Wood Street closed escrow yesterday with a contract price of $1,125,000 or just over $500 per square foot, an engineered “33 percent over asking!” but a noteworthy 10 percent over the price at which its closest comp sold two months ago.
Comments from Plugged-In Readers
Now that architect fit the canvas.
West Oakland is really improving, but million dollar homes are crazy. I call top.
West Oakland is roughly 2.25 square miles… some parts are taking off and others are not. 8th and Wood is smack between job centers in Oakland, Emeryville and SF with excellent transit connections. Why on Earth can’t it command Balboa Park prices?
Air quality, for the most part.
Also, dangerous levels of lead and other heavy metals. West Oakland is not a place you would choose to raise children if there are other available options. There’s a ton of pollution from the port, and 100 years of legacy pollutants from industrial uses.
yep. And while a lot of that historic toxic waste is getting cleaned up in a slow and piecemeal fashion – everyday a lot of air pollution blows in from the Bay Bridge toll plaza…
and crime, although it’s getting better, and I don’t really mean to jump on that over-stressed bandwagon. But things have gone from “the worst” to being simply “bad” but improving.
Ketch – not really, keep reading: Air Pollution Down Thanks to California’s Regulation of Diesel Trucks. At this very moment the air in WO is cleaner than at the PoHi adjacent CCA campus.
curmudgeon – crime in WO is hardly uniform, much like the Mission or Bay View or East San Jose or Richmond or Vallejo or East Palo Alto or only seems uniform if you don’t know the place and read too much Chronic(le).
I agree Matt, which is why I didn’t go all Chronicle comments. Just that crime still remains a reality to consider in many places in Oakland, and certainly in parts of West Oakland. I have friends who live in West Oakland who will still not walk to the BART station from Wood Street at night. But things are definitely on the upswing.
Yep. It is still pretty bad. It can take half an hour for OPD to show up to a violent crime with shots fired “in progress” on a busy Friday night. Of course – San Francisco has literally 200 people writing parking tickets at any given time. Our regional priorities on public safety suck.
I think San Francisco is at a plateau….but it wouldn’t be surprising if prices in Oakland still keep rising for a bit
Baran Studio should get to develop the whole neighborhood. Nice Job Baran!
Screw that. Those things are damned eyesores. Everything else around there is beautiful, century-old Victorians. These charmless boxes stick out like a sore thumb.
Ugly as sin. No, uglier.
Some sins are quite attractive. That’s why sinning is so popular.
Not as badly as an attempt to build neo-Victorian faux junk would be. Or a massive McMansion.
I like them. Crisp, colorful houses in basic form and size compatible with the neighborhood.
Not everything has to be frilly Victorian.
Walkable to Bart, but I wouldn’t want to walk it.
Walk score: -10
Walk score is 82. Looks like the new owners are renting the 3rd bedroom for $1950/month.
what’s the walk fast score
LA has lower rates of violent and property crime than SF. I guess all you one trick ponies are packing up for LA tomorrow?
No, I was going to move to Modesto because somebody else on the internet told me that I was complaining about something in San Francisco and that that is where I should move in order to achieve personal fulfillment. Now you are suggesting I should move to Los Angeles due to its lower violent and property crime rates. Hmmmm. Decisions decisions.
Walk score would be better if there were more retail. The algorithm calculates for distance to a variety of stores and services and West Oakland is still pretty barren, unfortunately. Very walkable to BART, however.
UPDATE: West Oakland Déjà Vu
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