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$ 2,400,000
Est. payment /mo
New
2784 E 8Th St Oakland, CA 94601
2,696 Sqft Lot
UPDATED:
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. Owner Occupied. Please feel free to call if interested.
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
Listed by John Kirkish Flat Rate Realty #02070987