There's a little tucked away neighborhood in Oakland that remains a good buy and a great investment opportunity. The bungalow style homes tend to hover around 1,000 square feet with two bedrooms and one bathroom, but if you are looking for an investment, Allendale is where you should look. It will be a few more years (think 5 or so at the rate Oakland is growing) for it to realize its potential, but depending on your holding strategy it could be worth it -- especially if you're an adventurous first time buyer aching to become a homeowner who will live in your first home for the typical 5-7 years. Located adjacent to the thriving Laurel District just on the other side of 580, Allendale sits above Brookdale between High Street and 35th Avenue. This relatively quiet neighborhood of bungalows reaps the benefits of it's flourishing Laurel neighbor while holding lower property values due to elevated crime rates (predominately theft, but you should do your own research if you're curious). This is typical of what we've seen in other areas where people who can't afford to buy in established neighborhoods buy there and begin to plant roots, more deeply investing in their neighborhood; crime is less tolerated and in time it's reduced (think: Temescal, NOBE, and the one-the-brink neighborhood, Bella Vista). It's not for the faint of heart at the early stages, but in a county with an average sales price exceeding $800,000, a charming home for under $350,000 can be a worthy entry point (see 3307 Over Street on the list below).
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