In 1887 real estate developer, Edwin Alsip subdivided 230 acres southeast
of the City of Sacramento. The main street into the
subdivision, providing access for horse drawn streetcars from downtown, was Sacramento
Avenue now known as Broadway. The
subdivision, which has the distinction of being the City’s first suburb, was named
after an 8-acre grove of oak trees that later became a neighborhood park. While the park is now known as McClatchy Park,
the neighborhood retained the original park’s name, OAK PARK. For a more detailed history of the area, I
suggest reading William Burgs 2010 article “A Brief
History of Oak Park” in the Midtown Monthly magazine. The current Oak Park boundaries are not well defined and are marked
loosely or informally by US Hwy 50 to the north, Stockton Blvd to the east, US
Hwy 99 to the west and Fruitridge Road to the south.
This mostly working class neighborhood has seen many economic difficulties
and for various reasons has been on a steady decline for decades but thanks to
some dedicated, community-minded developers and government support, there is a
strong ongoing effort to revitalize the area.
With the movement back to the urban core by many homebuyers, the area’s
proximity to downtown as well as its comparative affordability has made it an
option for many. The nearness to the UCD
Med Center with its endless supply of resident interns has also been a plus in
its recovery providing renters for investment properties.
The average sales price in the area over the 12-month period ending
8/31/14 was $131,687 and the median price $120,000. During the same period prices ranged from
$30,000 to $335,000 with highest sale taking place in the area north of 12th
Avenue where much of the property renovation and new development seems to be taking place. The breakdown of sales by bedroom units is as follows:
2-bedrooms – 151 sold – average price $113,534 –
average sq ft 925 3-bedrooms – 135 sold – average price $143,950 –
average sq ft 1,212 4-bedrooms – 26 sold – average price 169,404 –
average sq ft 1,533 5-bedrooms – 4 sold – average price $157,875 –
average sq ft 2,212
The Sacramento County median price for the month of August 2014 was
$270,000 or over 100% more than the Oak Park median at $127,000. The area is definitely one of the most
Author:Sean Safholm BRE#01270334 Phone: 916-920-7000 Dated: September 12th 2014 Views: 335 About Sean: Sean Safholm started his career in real estate in 1999 when he was going to college to study real es...
Sean Safholm is a licensed Real Estate Broker in California. He is a real estate investor, broker, and seasoned mortgage pro. Sean has closed over 2000 transactions on the mortgage side of the business and a few dozen house deals for his own account. He has extensive knowledge on all sides of the real estate transaction and is here to assist first time buyers, move up buyers and investors with all their real estate needs.
The news came out a while back that Freddie Mac was suspending its new
"My husband and I were looking to buy a home and needed direction. We needed help finding the best area that was going to fit our family needs as well as finding a great loan that would fit our needs. We contacted Sean Safholm who was wonderful in taking care of us and helped us find the area that worked best for my family. He directed us to a new home subdivision that had the perfect house and met all the needs of my family.
He always answered all of our questions and picked up his phone every time we called. Even though he was not our real estate broker, Sean helped us with our financing to purchase our home. We feel we got the best deal in town with our mortgage. I priced/shopped rates with a few lenders and by far Sean Safholm beat them not only in price and payment, but also in customer service! I continue to recommend Sean Safholm to all of my family and friends.