Have lived in the area for 15 years and can honestly say it is one of the safest neighborhoods in Oakland and the crime stats support that – but part of that is that living in a condo your chances of being burglarized are virtually zero. However mark my words this is a city neighborhood, not the Oakland Hills. The streets can be noisy on the weekends because people come to this neighborhood to party – not as much as they used to but it still happens. There is still petty crime and occasional street robbery and yes we have way more homeless than you’ll ever see up in the hills, mostly because of the proximity of a recycling center (4th and Madison), shelter (7th and Oak) and various hide outs and encampments under the freeways and by the estuary. I’ve never personally experienced a crime but my girlfriends business was burglarized and she got robbed at gun point – both crimes that could happen any place in a big city be it Oakland, Berkeley, SF or even Alameda (the person who held up her store went on to car-jack someone in Alameda and was eventually shot and killed uring the pursuit).
All this would lead me to say this is not, and may never be, a great place to raise your kids – we do see a few strollers around but my experience is people eventually move out as soon as their kids start needing somewhere to play (there are almost no properties with any kind of a garden or safe outdoor space here, and the streets are not kid friendly). The nearest schools are in Chinatown and the nearest park is a non-kid friendly Estuary park (mostly home to ducks and occasional homeless people chilling during the day). Many buildings have train noise and freeway noise to contend with. I would definitely look at Alameda if you like the area, it is way more kid friendly and family oriented, although it is much less connected via public transit and doesn’t have any of the hip up-and-coming urban neighborhood feel.
All that said, as a middle-aged non-kid rearing couple me and my girlfriend love living here as do many others. Maybe if you consider it a short term move before your kids grow up you will have some fun – all the new stuff at Jack London Square should be opening up by next summer and I think you can probably get a good deal on a condo here. As some people mentioned each building has its issues and advantages, plus a big variety in amenities and HOA fees, if you contact me personally I will do my best to advise. Good luck in your search!