For Sale
$3,090,000

2712-2726 Park BlvdOakland, CA 94606

High-yield Oakland property, 75% vacant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional mixed-use investment opportunity in Oakland, CA, presents a compelling case for immediate action. Located at 2712-2726 Park Blvd, this property boasts a total lot size of approximately 10,000 square feet, encompassing a two-story, 10,943 square foot building and an adjacent 3,000 square foot vacant lot. The building, constructed in 1950, features 11 units: six one-bedroom, one-bathroom residential apartments (three currently vacant) and five vacant commercial units totaling approximately 9,700 square feet of net rentable space. Currently operating at 30% occupancy, the property generates a net operating income (NOI) of $18,000, yielding a 6.25% cap rate at an asking price of $3,090,000 ($282.37 per square foot). The RU-5 zoning allows for flexible development options, including increased building height, making this a highly versatile investment. The property's prime location in the vibrant Ivy Hill neighborhood offers excellent frontage and significant potential for increased rental income through lease-up of vacant units and strategic redevelopment of the existing building and adjacent vacant lot, previously used as parking. This multi-faceted property offers a unique blend of residential and commercial potential, making it an ideal investment for both seasoned and emerging investors seeking substantial returns.

Highlights

  • Mixed-use building with 5 vacant commercial units (approx. 9,700 SF) and 6 residential units (3 vacant, 1 bed/1 bath each) in Oakland, CA. High rental income potential.
  • Adjacent 3,000 SF vacant lot, previously used for parking, ideal for expansion or development.
  • RU-5 zoning allows for flexible development options, including increased building height.
  • 10,000 SF lot with a 10,943 SF building; currently generating $18,000 NOI, 6.25% cap rate at $3,090,000 asking price ($282.37/SF).

Property Details for 2712-2726 Park Blvd

Property type
Retail properties, Mixed-use properties
Square Feet
10,943 SF
Class
C
Year Built
1950
Buildings
1
Stories
2
Units
11

Location Insight

City
Oakland
County
Alameda
State
California
Latitude
37.8021461
Longitude
-122.2411467
2712-2726 Park Blvd, Oakland, California

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2712-2726 Park Blvd
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