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1901 Park Blvd Local commercial 151 m² À vendre Oakland, CA 94606 1 306 275 € (8 647,37 €/m²)

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Certaines informations ont été traduites automatiquement.

INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT

The highly visible site offers flexible development potential, with plans for either a 12-condominium or 23-condominium building.
Approved for an underground parking garage (5,346 sqft)

Currently occupied on a month-to-month basis by an auto repair shop and car detailing business, which pays a below-market rent of of $3,800/month.
Seller offers to cover the demolition, excavation, disposal, and shoring costs.

RÉSUMÉ ANALYTIQUE

This is a prime covered land development opportunity located at 1901 Park Blvd in Oakland, CA 94606. The highly visible site offers flexible development potential, with plans for either a 12-condominium or 23-condominium building, featuring 3,664 square feet of flexible retail space, over 3,000 square feet of rooftop lounge, and 5,346 square feet of parking garage space. The 23-condominium plan will be entitled by June 30, 2025, with AH impact fees exempted due to the inclusion of two affordable units. The seller has also paid over $400,000 on engineering designs, which are ready to be submitted for building permits. The property is currently occupied on a month-to-month basis by an auto repair shop and car wash/detailing business, which pays a below-market rent of $3,800 per month.
The seller offers additional flexibility, including the option to build the project for the buyer at a cost of under $300 per square foot, under agreed-upon terms. If the buyer prefers to utilize the land for other business purposes and wants to add an underground garage (currently approved at 5,346 square feet), the seller offers to cover the demolition, excavation, disposal costs, which are quoted at over $1,000,000 in value (the buyer will be responsible for pouring the concrete). In any case, the seller offers to clean up the site and complete the agency-approved remediation before handing the land over to the buyer. These flexible offerings present a rare opportunity to secure a centrally located, entitlement-advantaged property with substantial cost savings and development upside.