Investment Opportunity near Fruitvale District - Oakland CA

920 52nd Ave Oakland, CA 94601

920 52nd Ave, Oakland, CA, 94601
920 52nd Ave, Oakland, CA, 94601
FOR SALE Off Market Listing
Property Type:
Free Standing Building
Amount:
$575,000
Last Verified:
Nov 21, 2020

Highlights

  • Corner Lot
  • Zoned HBX-1
  • Located in Oakland's Cannabis Green Zone (buyer to verify with the city)
  • Located in Opportunity Zone
  • Commercial and Single Family Residential Use allowed

Description

Price Improvement to $575,000!

920 52nd Ave is a retail/residential property approximately +/-1,050sf situated on a +/-4850sf corner lot. The property is zoned HBX-1 which permits many commercial uses and is located in Oakland's Green Zone which makes it a unique investment for the right cannabis buyer. The property has a large back lot, 3 rooms, 1 1/2 bathrooms, and a basement. This is an ideal owner-user or investment opportunity for any buyer in the East Bay Market.

This property is located near the Fruitvale district of Oakland, California. The property sits just 1.1 miles to the Fruitvale Bart Station, 5.2 miles to Oakland International Airport, and 3.3 miles to Harbor Bay Island in Alameda. The zoning for this location is Housing and Business Mix - 1 (HBX-1) Commercial Zone. The HBX-1 Commercial Zone is intended to provide development standards that provide for the compatible coexistence of industrial and heavy commercial activities and medium density residential development. This zone recognizes the equal importance of housing and business. The property also sits in Oaklands "Green Zone" which allows for multiple cannabis uses (Buyer to verify with the city).


Year Built: 1900
Building Size: 1050.0sq ft
Lot Size: 0.11 acres

Map of 920 52nd Ave, Oakland, CA, 94601

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.