2712-2726 Park BlvdOakland, CA 94606

Property Details for 2712-2726 Park Blvd

Year built

1950

Property size (Sq ft)

10,943 SF

Property type

Land

Property subtype

Other retail properties

Description

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.

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.8021

Longitude

-122.241

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