2712-2726 Park Blvd Oakland, CA 94606
- Retail properties
- 10,943 SF
Current Use by Public Records
- Retail properties
Property Details for 2712-2726 Park Blvd
- Year built
- 1950
- Property size
- 10,943 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use 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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oakland
- County
- Alameda
- State
- California
- Longitude
- -122.241
- Latitude
- 37.8021
