2044 Franklin StOakland, CA 94612

Property Details for 2044 Franklin St

Year built

1966

Construction

TILT-UP CONCRETE

Lot size

0.59 AC

Property size (Sq ft)

21,220 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

8-651-18-1

APU

8651181

Description

This exceptional redevelopment opportunity presents a 25,500 square foot, 0.59-acre site located at 2044 Franklin Street in Oakland, California's highly desirable Uptown District. Zoned Central Business District Commercial (CBD-C), this vacant property offers significant potential for a mixed-use development. Previously occupied by Bank of America as a single-tenant office space, the site is entitled for a 357-unit multifamily project. The proposed development includes a mix of studio, one-bedroom, and two-bedroom units, along with approximately 5,385 square feet of amenity space. Amenities will include a leasing center, mail center, rooftop deck, outdoor cafe, and fitness studio. The 22-story building was constructed in 1966 and sits on a parcel identified by APN 8-651-18-1 in Alameda County, zip code 94612. This prime location within the vibrant Uptown District offers unparalleled access to Oakland's thriving downtown area. The property's size and zoning provide a unique opportunity for a high-density, mixed-use development catering to the growing demand for urban living. This is a for-sale-by-owner opportunity for investors seeking a significant redevelopment project in a dynamic and rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $9,658,278

  6.5%

  $8,915,334

  7%

  $8,278,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,016,577

  Geo Method

  $9,173,629

• Alternative Use

  Use

  Valuation

  Residential

  $8,915,334

  Hospitality

  $8,166,398

  Educational

  $6,794,348

  Medical

  $7,028,016

  Retail

  $10,568,985

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.8096

Longitude

-122.266

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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