501 W Macarthur, Oakland, CA 94609

About this property

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

Listing description from the June 2023 sale, as reported to CRMLS.

Sale history

$3,500,000

Sold June 2023 · listed $4,995,000, orig. $6,000,000, on market January 2023 · MLS #41018132 · Source: CRMLS

Listing Agent: Robert Dau · Listing Office: Transwestern Property Co. · Contact: 415-489-1839 · Bought with: OUT OF AREA NON MEMBER · Bay East AOR

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