Mixed-use For Sale

2764 73rd Ave Oakland, CA 94605

2764 73rd Ave, Oakland, CA, 94605
2764 73rd Ave, Oakland, CA, 94605
FOR SALE
Property Type:
Mixed Use
Amount:
$2,600,000
Cap Rate:
7.14%
Last Verified:
Dec 01, 2020

This Eastmont Building is a two-story mixed-use building in one of Oakland’s most rapidly developing districts.? The building is approximately 9,496 square feet and is currently demised into a mix of five ground-floor retail units and eight second-floor residential units.? The residential units range in size from 425 square feet to 575 square feet, while the retail units range in size from 800 square feet to 1,300 square feet.? The building is at the intersection of the Southwest corner of 73rd Avenue and MacArthur Boulevard, which is heavily traveled, and on the MacArthur Blvd and Foothill Blvd junction.? A coin-operated laundry room may be added between the units on the 2nd floor for added income.? 24-hour video surveillance is placed on the second floor in the hallway.? Major capital improvements to the building have been completed with the help of Oakland’s Revitalization Façade Improvement Grant program.? New storefront windows and doors were installed in 2006, along with partial plumbing and electrical upgrades, newly stuccoed exterior walls, and new mailboxes.? Between 2018-2020 a new roof was replaced, exterior and interior walls were repainted, and new appliances installed.? The bathrooms were remodeled in most residential units with new or refinished hardwood floors.?


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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.