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Commercial/Multifamily Land | West Oakland 2116 Brush St 0.44 Acres of Residential Land Online Auction Sale Oakland, CA 94612
INVESTMENT HIGHLIGHTS
- Previously approved for 105 units with $4,850,000 land price in 2020
- Immediate proximity to Downton Oakland jobs, shopping, dining, entertainment, recreation, and services
- Within 0.5 miles of 19th Street Oakland BART Station; convenient walking distance to multiple AC Transit bus lines: 72, 72M, 72R, and 802, NL
- 2025 newly constructed projects steps away: 2201 Brush (59 units) by EBALDC and 1925 Brush (22 units) by Riaz Capital
- Excellent long-term investment opportunity in West Oakland with access to the freeways and Uptown Oakland
EXECUTIVE SUMMARY
As the exclusive advisor, Colliers is pleased to offer the 0.44-acre commercial parcel with previously approved plans for 105 multifamily units to the West Oakland, California market. Comprising seven land parcels with over 200 feet of direct frontage along Brush Street and off Interstate 980, the site has prime visibility and accessibility. It was previously approved for 105 multifamily units, as well as 22 parking spaces, 105 bicycle parking spaces, and 1,620 square feet of commercial space. The recently anticipated unit mix is 45 studio units, 25 one-bedroom units, 20 two-bedroom units, and 15 three-bedroom units, ranging from 350 to 934 square feet.
This development opportunity in West Oakland is close to Downtown and Uptown Oakland, providing easy access to surrounding restaurants, bars, shopping, entertainment, and more. Being off Interstate 980, more than 140,000 passing cars are exposed to the site daily. Future residents of the site will be just a half-mile from the 19th Street Oakland BART Station and a seven-minute bike ride from Lake Merritt. 2116 Brush Street is nestled in West Oakland/ Alameda County’s designated Opportunity Zone, where county tax benefits may be eligible.
There are approximately 254,522 residents with an average household income shy of $130,000 within a 3-mile radius. The stabilized realm generates more than $3.8 billion in consumer spending annually, and the median home value is more than $1 million. Roughly 86% of the 3-mile radius’s households are one-, two-, and three-person occupied, aligning with the site’s multifamily capabilities. Furthermore, 71% of households are renter-occupied, signifying strong rental demand in the area.
Multifamily development is easily feasible with updated plans and approvals, or the site also caters to mixed-use development.
Property tours are available by appointment only. Please contact the broker to schedule.
This development opportunity in West Oakland is close to Downtown and Uptown Oakland, providing easy access to surrounding restaurants, bars, shopping, entertainment, and more. Being off Interstate 980, more than 140,000 passing cars are exposed to the site daily. Future residents of the site will be just a half-mile from the 19th Street Oakland BART Station and a seven-minute bike ride from Lake Merritt. 2116 Brush Street is nestled in West Oakland/ Alameda County’s designated Opportunity Zone, where county tax benefits may be eligible.
There are approximately 254,522 residents with an average household income shy of $130,000 within a 3-mile radius. The stabilized realm generates more than $3.8 billion in consumer spending annually, and the median home value is more than $1 million. Roughly 86% of the 3-mile radius’s households are one-, two-, and three-person occupied, aligning with the site’s multifamily capabilities. Furthermore, 71% of households are renter-occupied, signifying strong rental demand in the area.
Multifamily development is easily feasible with updated plans and approvals, or the site also caters to mixed-use development.
Property tours are available by appointment only. Please contact the broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Civil Topographic Survey
- Parcel Map
- Plans
- Natural Hazards Disclosure Report
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
PROPERTY FACTS
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Residential | Sale Condition | Auction Sale |
| Sale Type | Investment | Type of Ownership | Fee Simple |
| Total Lot Size | 0.44 AC | ||
| Zoning | CC-2 - Community Commercial | ||
| Property Type | Land |
| Property Subtype | Residential |
| Sale Type | Investment |
| Total Lot Size | 0.44 AC |
| Opportunity Zone |
Yes |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Zoning | CC-2 - Community Commercial |
1 LOT AVAILABLE
Lot
| Lot Size | 0.44 AC | Parcel Numbers | 003-0023-006-01, 003-0023-011-02 |
| Lot Size | 0.44 AC |
| Parcel Numbers | 003-0023-006-01, 003-0023-011-02 |
0.44-acre commercial parcel previously approved for multifamily units ranging from studio to three-bedroom layouts in West Oakland's Opportunity Zone.
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (78)
Bike Score®
Biker's Paradise (97)
SALE ADVISORS
SALE ADVISORS
Tom Rafton, Vice President
Tom specializes in land development and investment sales with a focus on residential developments including; market rate multifamily, affordable housing, home builders and hotel conversions. Tom has successfully closed over $200M of land transactions which will be developed into over 1,500 units of residential housing. Prior to joining Colliers, he worked as an investment associate at his family partnership where he was responsible for the asset management and financial analysis of real estate investments and developments including office, multifamily, and assisted living. Outside of work Tom enjoys the outdoors including skiing, surfing, golfing, fly fishing and rock climbing.
Tony Park, Senior Vice President
Tony specializes in land and development transactions. His career encompasses 20+ years in commercial and residential real estate investment, development and consulting in the Western U.S. Past notable employers include Prudential, a global real estate investment company, RREEF/Deutsche Bank, a global pension fund advisor, and Fairfield Residential, a national multifamily developer. Past entrepreneurial experience in other industries include energy efficiency, automotive, healthcare and technology.
ABOUT THE AUCTION TECHNOLOGY
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AUCTION CONTACT
Pace Zambito
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Commercial/Multifamily Land | West Oakland | 2116 Brush St
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Commercial/Multifamily Land | West Oakland | 2116 Brush St
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