Christopher Danesi at RE/MAX Accord - 925.998.7426
East Bay Condo ManiaSOLD! MLS: 41018132 $3,500,000
Bedrooms with Baths501 W MACARTHUR
OAKLAND CA 94609MLS: 41018132
Status: SOLD
Closed On: 2023-06-13
Sold Price: $3,500,000
Sold Price per SqFt: $187
Square Footage: 18682Bedrooms
Baths
Year Built: 1935
Zip Code: 94609
Listing Remarks
4.81% CAP RATE | 11.61 GRM -Walk Score 98 (Walker's Paradise) -Bike Score 92 (Biker's Paradise) -Transit Score 99 (Great Transit) Built in the 1930’s, 501 and 521 W Macarthur Blvd are two adjacent parcels located in the Temescal neighborhood, on one of Oakland’s most iconic corners – Telegraph and MacArthur. The property is home to 1 large commercial space occupied by “Lucky Florist”, which has been in business for almost 90 years on this notable corner. The parcels also consist of 26 apartments, 1 commercial unit + billboard. The apartments featuring (25) large studios, (1) one bedroom / one-bath unit and a sizable parking lot. 12 of these apartments will be delivered vacant, giving new owners a clear path to boosting rents and fulfilling a vision for the property. The asset is also located in a high impact zone and allows 1 unit per 275 SF of land – totaling 49 potential units – making it a prime. The location is undeniable, and the potential for creating a timeless landmark is clear
Address: 501 W MACARTHUR OAKLAND CA 94609
Listing Courtesy of ROBERT DAU of TRANSWESTERN PROPERTY CO.
Condo Mania Agent
Chris Danesi
RE/MAX Accord
DRE #01777489
Phone: 925.998.7426
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Listing Details
STATUS: Closed SPECIAL LISTING CONDITIONS: Standard LISTING CONTRACT DATE: 2023-01-30 CLOSE DATE: 2023-06-13 LIVING AREA SQ FT: 18682 BUILDING AREA TOTAL: 18682 YEAR BUILT: 1935 COMMUNITY FEATURES: None FLOORING: None HEATING: None COOLING: None LOT FEATURES: No Lot PARKING FEATURES: No Garage PROPERTY TYPE: Commercial Sale PROPERTY SUB TYPE: Lowrise (1-3 Flrs) ROOF: None LISTING AGENT: ROBERT DAU LISTING OFFICE: TRANSWESTERN PROPERTY CO.
Property Location: 501 W MACARTHUR OAKLAND CA 94609
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Last Updated: 2024-12-21