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Jessamine Walker

jessamine@walkerpropertygroupca.com +1(949) 241-2927

$ 2,400,000

Est. payment | -/mo

2,696 Sqft Lot

Save

$ 2,400,000

Est. payment | -/mo

Save

2,696 Sqft Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 41149510

HOA Y/N No

Lot Size 2,696 Sqft

Property Description

DEVELOPMENT OPPORTUNITY -- THREE CONTIGUOUS OAKLAND PARCELS totaling approximately 0.32 acres, currently zoned RM-3/S-13, with significant redevelopment potential and potentially much greater residential density under Oakland's affordable/senior-housing programs and applicable California housing laws. These continuous properties create a Large Footprint big enough to potentially build a substantial high-density affordable/senior housing development. Oakland is currently behind in construction of State-Mandated housing, so there may be additional benefits. These Adjoining Properties Cover All of 8th Street between Lisbon Ave and Portwood Ave. WHAT'S INTERESTING: What makes these parcels interesting is the 14,118-square-foot development assemblage - not the existing buildings. All three parcels are RM-3 with Oakland's S-13 Affordable Housing Combining Zone. S-13 is significant because qualifying affordable-housing projects have No Maximum Residential Density, and the program provides additional development flexibility and Streamlined Ministerial Review for qualifying projects. Preliminary analysis suggests this could support a substantial multifamily project. So I'd look at the property primarily as a development opportunity, with the existing buildings providing additional value in the interim. WHY S-13 ZONING IS IMPORTANT: Oakland describes it as an optional affordable-housing program that Eliminates Maximum Residential Density and Allows Additional Height and Other Development Flexibility. A 100% affordable project that complies with S-13 can receive By Right Residential Approval -- plus Oakland specifically identifies S-13 projects as Eligible for its Streamlined Review Process. The S-13 zoning Removes the Density Cap, so the site warrants a serious multifamily test fit. Preliminary analysis suggests that 100–125-plus units should be investigated, but I wouldn't put a hard unit count on it until an architect tests the envelope. Although more valuable together, the owner will consider selling them individually. The properties are: 815 Portwood Ave, Oakland - 7,206 SF Warehouse on a 7,408 SF Lot. 2784 E. 8th St, Oakland - 678 SF House on a 2,698 Lot. 812 Lisbon Ave, Oakland - Duplex and Warehouse on a 4,012 SF Lot.

Location

State CA

County Alameda

Zoning RM-3, S-13

Interior

Fireplace No

Building

Lot Description Street Level

Others

Tax ID 1984201

Acceptable Financing Cash, Conventional, Owner May Carry

Listing Terms Cash, Conventional, Owner May Carry

CRMLS Full IDX Feed (MAIN Website Search)

Listed by John Kirkish Flat Rate Realty #02070987

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 241-2927

jessamine@walkerpropertygroupca.com

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2784 E 8Th St Oakland, CA 94601