Alameda County is gearing up for a massive real estate fire sale, putting 256 tax-defaulted properties on the auction block later this month.
For the bargain hunters and the brave, the bidding starts as low as $455. This NorCal blowout features everything from condos and townhouses to single-family houses and even whole apartment buildings.
The auction, hosted by online platform Bid4Assets from March 20-23, is a “no reserve” free-for-all, meaning it will sell to the highest bidder regardless of how low the final price is. If you’re the top bidder, the keys are yours.
The bounty of items is varied.
Take 1425 Myrtle Street in Oakland’s Oak Center neighborhood, which is a multi-family home with four bedrooms, two bathrooms, and a starting bid of $142,944. The Zillow estimate for the property is listed at $836,900–making it an appealing deal for those trying to flip their way to fortunes.
On the other hand, a multi-family Victorian house in West Oakland’s Dogtown Art District, located at 1173 32nd Street, has a starting bid of $859,815. With four units and a basement, Zillow estimates the property’s market value to be at $661,600.
As for the Oakland townhouse with a starting bid of $455, it last sold in 2017 for $600,000, according to Realtor.com.
Alameda County officials aren’t playing realtor, though. Every single property is sold “as is,” meaning no promises about the condition of the roof, and zero help if the place is zoned for a lemonade stand instead of a luxury condo.
Since all sales are final, Bid4Assets encourages all interested bidders to “examine the title, location and desirability of all properties available in this sale to their own satisfaction prior to bidding.”
If Uncle Sam wants his cut, the IRS has 120 days to swoop in and redeem any property with a federal tax lien on it, according to the terms of the sale.
To get in on the County of Alameda Tax Sale, bidders have to pay a $5,000 refundable deposit and a $35 non-refundable processing fee by 1 p.m. PST March 17.
