473 Crescent St, Oakland, CA 94610

Description

Exceptional opportunity in Oakland's desirable Lakeshore neighborhood! Built in 1925, this distinctive two-story residence offers 3 bedrooms, 1.5 bathrooms, and approximately 2,580 sq. ft. of living space (per assessor) on a generous 6,624 sq. ft. lot. Conveniently located near Lake Merritt, the Grand Lake district, shopping, dining, and neighborhood amenities, this property presents an exciting opportunity for homeowners, renovation investors, and developers alike. The residence requires significant renovation, offering the chance to restore and reimagine a classic Oakland home. Beyond its residential appeal, the property's RU-3/S-13 zoning presents intriguing development possibilities. Preliminary zoning analysis suggests a theoretical base density of approximately 14 residential units, with potential additional incentives for qualifying affordable housing developments. Alternatively, buyers may explore retaining and renovating the existing residence while adding accessory dwelling units (ADUs), potentially creating a multi-unit residential investment. The property's size, location, and zoning flexibility offer a compelling opportunity to explore multiple investment strategies. All development possibilities are conceptual and subject to zoning regulations, historic preservation considerations, City of Oakland review, permitting, and buyer verification. Offered at $799,000. Bring your vision and explore the possibilities!