Oakland’s Bushrod neighborhood, roughly bounded by Telegraph Ave, Ashby Ave, Adeline St, and Highway 24, has long awaited it’s turn as a hot real estate location. Historically overshadowed by Lower Rockridge just on the other side of Telegraph, Bushrod was designated last year as the nation’s hottest housing market by the East Bay Times. Also last year, the property at 661 62nd Street became a marker for the way real estate trends catch hold and then catch fire in the East Bay.
In 2006, this circa 1910 property, described at the time as “Colonial” style, went on the market for $525,000. It was listed as having 2 bedrooms, one bathroom, and 1,288 square feet. It sold for $480,000, which as 91% of the list price.
In 2017, the “hottest housing market” year, the property went on the market again, this time as a “Craftsman” style, at $850,000. It was still listed as two bedrooms, but now with two bathrooms, still at the original 1,288 square feet. It sold for $900,000, which was 106% of the list price.
Now, the house is on the market again, as a “Rustic Modern” style, at $1,379,000. It is now listed as completely renovated with 4 bedrooms, two bathroom, and 2,294 square feet. This type of home expansion is commonly seen in areas where investors can be confident that the market will race ahead of the cost of improvements — in this case, the newly enlarged home has been turned around in just 6 months. How much will it sell for this time? Cast your votes — offers are due in 2 weeks.