$1,070,000 ($329/SF)
The Ivy Group is pleased to offer FOR SALE a free standing commercial building located a federal designated Opportunity Zone in Oakland, CA.
The property has been granted full entitlements for 15 units redevelopment.
The property is in the RU5 Zone, which permits one unit for every 450 square feet of site area. The project includes a 35% density bonus, which would allow for a maximum of three story with 12 residential condominium units, as well as the conversion of the existing warehouse space into 3 work/live spaces on the ground floor. Please refer to City of Oakland Tentative Map (TPM 10928).
The project will provide 11% affordable housing units and qualifies for a density bonus due to occupancy by low income households.
The property is warehouse and is currently vacant. It is served by existing utilities and roads in the urban area of Oakland. The site is physically suitable for density of development, with frontage on two public streets (Foothill Blvd and Bridge Avenue).
This is a unique opportunity for a developer, and/or owner user to occupy the property for a variety of uses including retail and warehousing.
3651 Foothill Blvd, Oakland, CA, USA
